New Member, How to Start?

Question

Hi everybody,

I am a college student at THE University of Cincinnati and I want to start investing in real estate, most likely in Columbus, the second I get my degree.

Is this possible? and if so, how do I get started? I have thought about doing house hacking in a duplex or triplex.

Steven Foster Wilson · Answer

Hi Reed,

You should come check out our brokerage. REAFco has great mentorship and driven people that are enjoyable to be around.

When I got started investing my sophomore year of college, I had $500 to my name, My grandmother lent me $12k for the downpayment on a duplex on OSU campus in Columbus. Over the course of a year my wife and I fixed it up, rented to friends, ate peanut butter and jelly, did everything we could. We then refinanced the property and it has given us $140k in cash back and continually produces $1,800/month in cash flow.

Get started and it will be only good things for your future!

Reach out if you want to chat more. I am always willing to connect.

Wale Lawal · Answer

Hello @Reed Kellicker

Welcome to BiggerPockets, you are definitely in the right place.

If I were in your shoe, I would start with getting specialized knowledge of real estate investments.

Also I would get in touch with local investors and other real estate professionals to get local market knowledge.

Just make sure to consume contents here as much as possible and feel free to ask any questions you may have. We are here to help each other grow.

Good Luck!

James M Palovich · Answer

Hey Reed!

to begin I just want to say that it is definitely possible and you are most certainly in the right place. I am currently in college and got my first duplex in Covington, KY last year (one on my tenants goes to UC)  I have been working as a real estate agent since starting college and learning on BP long before that. I would recommend before you start to read all the books you can, read and talk to people in the BP forums and find people in your area, like myself, to connect with and learn from their experience. The best piece of advice that I can give you is that the best way to get start is to get started! learn how to analyze a property, find something that works for you and take the chance. Obviously don't rush it and don't get emotionally attached to a property but DEFINITELY don't be afraid to buy the property.

Remington Lyman · Answer

Anything is possible! I started cold calling for off market deals in Columbus, Ohio while I was working for JPMorgan. I was also repeatedly house hacking. By the time I got laid off I had 10 doors

Ben Gammon · Answer

Hey Reed,

House hack a duplex. The goal is to just break even.

Most people's biggest expense in life is housing. If you can have a rental that pays the mortgage for you while you keep up your 'payments' into a savings account you can use it as a down payment for a 2nd property. Like everyone else on here you WILL make mistakes on your first one and that is OK. It's better to have a $1,000 lesson on a duplex than a $20,000 mistake on a 20 unit. GOOD LUCK!

Andy Grizzell · Answer

Great idea! I wish I'd started during college. It's totally possible, I recommend what you're thinking to all my younger friends. It's possible to amass quite a few properties house-hacking and building your stack at a younger age.

Andrew Syrios · Answer

Welcome to BiggerPockets Reed and best of luck investing!

Simon Ashbaugh · Answer

Hi Reed!

I would definitely recommend networking with investors, lenders, and real estate agents! Talk to as many people as you can and meet as many as you can. You never know when an opportunity will pop up and you want to have connections ready! Other than that learning the neighborhoods and pricing can be very useful.

Reed Kellicker · Answer

This was a great response! really insightful, Thank you!

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