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Updated over 3 years ago, 06/03/2021

User Stats

15
Posts
7
Votes

No money, but want to start investing in RE in 1 year

Elisa Sacchetti
Posted

I am a senior in college in GA right now and I have been interested in real estate for many years now, but I wanted to get a degree first. I am using this summer to educate myself on real estate, so by the time I graduate in May 2022, I can get a full-time job and start investing. My resident assistant job right now during the school year gives me free housing and meals at the dining hall, but I get no income and by contract I am not allowed to obtain another job or else I get fired. That also means I have very little money right now and will have very little by the time I graduate. The good thing is I will have no debt by the time I graduate. 

I've been reading many books about real estate and investing, and I have been using this time to attend seminars to learn more about finding properties.  I think I am most interested in house hacking where I can (hopefully) find a duplex, or a house/apartment that I can rent out to tenants and pay little to no rent each month. My problem is that I have very little money (broke college student) and I am unsure how to obtain my first property with little to no money down. Should I obtain a full time job first, THEN get a property. OR does anyone understand the rules with obtaining a loan with little down payment? I am feeling so overwhelmed with also where I should be looking because I'm willing to transfer also to another state. Any advice?

Side note: My original plan was to graduate with my Chemistry major and go to Physician Assistant school, but now I am rethinking that ( or at least postponing that dream) because I really don't want to take out a $100k loan when I also want to start investing in real estate earlier rather than later. 

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