Young Student and Seeking Advice

[Brisa Marie]

My name is Brisa Marie, I attend The Pennsylvania State University with a sophomore class standing. I have a little money saved up and want to begin Real Estate Investments to help offset costs for graduate school. I am not necessarily seeking to use Real Estate Investments as an income (not currently anyway...). I am not sure which avenue is most appropriate for my needs, I am most interested in rentals, but I also have limited knowledge in any other avenue. I considered wholesale and flipping foreclosed homes,but I am not sure if that is secure/consistent enough for my needs. I am not trying to get rich, in fact just a few thousand dollars a month can be useful. I am not sure if this is realistic or not but it is a goal. After I graduate I do want to get more involved in Real Estate, but now I want focus on my education as much as possible.

[Jake Kellerhals]

Sounds like you need to get with a real estate agent and tell them what you are looking for.... right after you speak with a mortgage broker so you can find out how much you can borrow. From there it will get much easier as you narrow down your options.

I agree that buying a duplex or triplex sounds like a good option for you. You should buy something that you can live in while the other units rent covers your mortgage payment. You get to live for free while also building equity. When you get out of school you can either sell it, refinance it or keep it until you get your own place, then rent out the unit you lived in and put extra money in your pocket each month.

As for getting a few thousand per month, that will probably take you a while with rentals. To get the kind of money you are going to need more than one property and get pretty good deals on the buy. Your safest bet would be to find GREAT deals and wholesale them to experienced investors for a few thousand (3-5) per deal. Do one of those per month and you have met your goals, and you'll learn a lot along the way!