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Updated over 3 years ago on . Most recent reply
![Elisa Sacchetti's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2160841/1661464581-avatar-elisas12.jpg?twic=v1/output=image/crop=1170x1170@0x680/cover=128x128&v=2)
No money, but want to start investing in RE in 1 year
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.
Most Popular Reply
![Matthew Brill's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/359018/1621446504-avatar-matthewb27.jpg?twic=v1/output=image/cover=128x128&v=2)
While it is possible to buy a property with little or no money down, the risk will be in not have reserves should something come up. So you are either looking at finding a partner with money and ability to get a loan, or saving up money.
Real estate is great. But the first thing would be to think about what you see yourself doing in 10, 15, 20 years and then working towards that. What do you want your career to be in? That is where you will get a lot of fulfillment in life. And don't be hesitant to take out debt for school. You just have to be smart about it and make sure you are pursuing something that you will enjoy and will be able compensate you to cover your debt. I came out of school with $250k+ in loans but have a job that I can easily pay it back how I want and still have a lifestyle. Having $100k in debt and then getting a job where you can make $75k isn't a bad trade off.