Investing as a new grad

[Liam McGoldrick]

I am graduating in May and have a job lined up in Madison Wisconsin. I am looking to get my feet wet in real estate as soon as possible as I have spent the last year listening to podcasts religiously and researching investment strategies. I would like to get a short term lease, save up over the summer and use a FHA loan to purchase a property (not sure if I will do single or multi family). I am looking for something where there is a possibility for value add, but nothing extreme because I am not experienced in renovation. Ultimately my short term goal is to eliminate rent payment from my expenses so it seems like multi family might be the way to go. I then hope after my year of owner occupancy is up to use HELOC and get a larger property and go from there.

Does this make sense? From what I understand, I can use my college years as work history for FHA loans so I would be able to qualify, assuming I have the down payment, this summer. Will it be possible to use HELOC after occupying this property for a year? Any input would be much appreciated!