Real Estate Investing to pay off student Loan Debt

[Chasity Jones]

Hello, 

I am a middle school teacher and have always been interested in real estate. I have almost $100K in student loan debt. I WILL NOT be paying off student loans all my life! I have a plan to flip houses during my summers off to aid in paying off my student loans faster. Once 75% of my student loans are paid off, I want to build a Triplex and live in one with my family and rent the other two units out. I will do this under a FHA loan.

My question, WHERE do I start as far as getting financing for my first house and repair cost? If I have someone invest their money with me, what portion or how much profit should I offer them to interest them? Also, should I set up an LLC? I do have $5K liquid so far and can access about $2K in mutual funds if need be.

Please share you wisdom!

[Kyle Mccaw]

Start networking at local investor clubs. Your cash may not qualify you to borrow from a hard money or traditional lender so you will need a partner or private lender. Either way you need to find the deals. You may want to research wholesaling. This is how I got started. My first five deals I found through postcards. My buyer had lots of money but not the time or knowledge to rehab. So our agreement was I found the house. He provided 100% of the purchase and rehab expenses. He got an appraisal when he did a cash out refi. Our agreement was I got paid 1/2 of the difference between total cost and appraised value. We both did well with this arrangement.