Advice for college freshman

[Jesse Malhotra]

Hey guys,

I’m about to be a freshman at the university of Miami majoring in real estate. I’ve saved up a bit of capital during high school and my plan is to keep building it while I’m in college and start investing quickly.

For now though my dad and I were talking about him getting a property in Miami that I could manage with him and for a cut and for some first experience. I was also thinking about trying wholesale. Just trying to get experience while building up my capital.

What do you guys think, should I try wholesale or something else? Should i work with my dad on a property in Miami and if so what type, single family, multi family, short term vacation rentals, or commercial?

Thanks

[Tony Savage]

Hey Jesse,

So if you're going to be in Miami for four years or more. I would recommend you either purchase a single family residence (SFR) and rent it out. Better yet, if you can find a duplex or a fourplex in Miami. You can do a house hack, where you live in one of the units and rent out the others. Your tenants will pay your mortgage for you.

Stay away from wholesaling right now.  Unless your confident with that type of transaction, it's a whole different skill set.  

Good luck on your real estate journey Jesse!