College Student Looking to Invest

[Rachel House]

Hello everyone!

My name is Rachel House and I’m a 20 year old UMass Amherst student going into my junior year. I’ve always been extremely interested in real estate and this summer I finally obtained my salesperson license here in MA and landed an internship with Coldwell Banker, which I just completed. I currently am paying a pretty high amount of rent to share a room in an off campus house, while making a decent income from waitressing.

Over the past few months I have been consistently researching the benefits and logistics of investing in real estate and realized that this is something I could potentially do for my senior year. The idea of making an income from renting out a multi-family in the Amherst area rather than paying someone else rent is something that I want to take advantage of. I have a good credit score and a decent amount of money saved up (should have around 18,000 by the end of this school year), but am still intimated about the concept of not qualifying for an FHA loan and not having another route to go down.

Now that I have my salesperson license and will soon sign with a brokerage, I would like to start marketing myself and hopefully getting a few sales in, which could aid towards the investment property. However, being a full time student and not fully knowing where to get started, I am unsure if closing on any sales is possible for me during the school year.

I am reaching out to all of you to get your advice on whether or not it could be possible, and a good choice, to work and save towards getting a property for my senior year. I also would highly appreciate any advice on getting the ball rolling as an agent and what the best ways to utilize my license would be during the school year. Thank you!