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Updated 12 days ago,
Future Real Estate Plans Help!
Hello everyone, this is my first time making a post on here! I have been listening to BiggerPockets for a couple of months now and have been doing my own research over the past several months as well. I am a 20 year old college student at Purdue University, currently completing my 2nd semester of my Junior year. I will be starting an internship/co-op with 60k salary at the beginning of June after finishing my Junior year and will continue on for 15 months until August of 2026, in which I will then finish my senior year of classes back at Purdue 2026-2027. I will not have a full time job until this comes, so I wont be able to show much income other than part time money flowing in, until I start this position. My goal is to try and get a multifamily property a month or two after starting my job once I have the paychecks rolling in, to show my financial advisor. I also plan on starting to have my realtor send me MLS properties that popup in the Indianapolis area and start looking through numbers and pricing to see what I can afford and be beneficial. I feel like starting this now and being able to live in it for a year while I work, and then being able to rent out my side of the unit after I leave to go back for my last year of college. If I wasnt going to be doing this I would just be saving more money and staying for free with my parents. While that would be nice to build up a lot of money and save, however that would just push me back even further from starting my real estate future plans, careers, family, etc. I feel like getting my foot in the door now with this one property would allow me to learn without being too overwhelmed. However it is worth it to pay a little bit more money for a mortgage now, so I can start building equity, assets, and future cash flow.