I am going into college and want to buy my own property next year - advice?

[Jeffrey Lester]

Hello, fellow BiggerPocketers!

I recently graduated high school, and next year I'm attending the university (located about 3 hours from my hometown). I desperately want to get started in real estate, and I thought, why not start in college?

My plan would be to buy either a) a single family home and have a couple of college roommates to pay the mortgage and other fees or b) buy a duplex and have the tenant pay the mortgage and fees.

I'm not cash flow hungry at the moment - I simply would like to have my living costs covered, learn how to landlord, and build equity on my first property. I feel like the experience gained from owning a college would be tremendous and would effectively propel me forward to a successful future in real estate.

There seems to be a big problem, though - how do I get the money to do this? I could have $10,000 saved up a year from now, which would be a 10-20% down payment! but as far as I can tell! I can't get a loan. My income is about $6,000/year since I will be in college, and my credit score will not be well established since I have only had a credit card for a few months.

I do not want to bring family into the equation (i.e. asking my parents to consign). Is there any options available that you guys know of? I would rather not ask friends for money, I simply do not want to get caught up in that method of financing. I'm thinking a loan, most likely. I'm pretty sure I can't get a bank loan, so where do I go?

All input and advice is greatly appreciated. Thanks so much!