College Student/Future RE Investor from Wisconsin

[Drew Markert]

Hey BP! I just wanted to introduce myself.  I am currently a college student and will be graduating and moving to the Milwaukee area in a few months.  I am fortunate enough to have a job lined up, zero student loans, and will be moving back in with my parents for the first year or so to save money.  

My goal is to house hack a duplex to gain experience before building my portfolio and eventually moving into multi-family properties to become financially independent.  

I estimate I will have about $15-20K in savings after my first year in the workforce, and I would be grateful if anyone has any recommendations for me.  As I won't have any bills for my first year, I want to make sure I start on the right path for myself and my future family.  Thank you kindly for your time and advice!

[Cody Barrett]

Welcome Drew!

Boy you have the same opportunity as I did last year!! I moved back from Arizona to save my money and become an Investor.  I worked full time for Chase as a Banker and saved 80-90% of my income because of not having bills.  1 full year later, I had 25k to invest and I did so by closing on my first property last Friday! It is a 2 unit duplex here in Racine. (I don't hack it though, I rent both units) but the next one will be owner occupied financing which hopefully makes it easier on me to get approved.  Investor financing was not easy but I got it, luckily lol... 

Now I work part time for Chase because I hated the corporate world and want to focus on learning about creative financing and managing rentals more thoroughly.

@Frank Eimiller is right, there are tons of pigs but tons of solid deals too so keep those eyes open even if you don't plan on buying for a year. That will allow for you to notice what solid deals look like and what they do not look like.. If you can really get comfortable at analyzing deals by the time you are ready to buy, you will be ahead of the game and lessoning that chance of buying a bad deal. Keep doing what you are doing and become a professional in the industry by learning all you can in the category of REI that interests you most... BP built that platform so take advantage! Podcasts, webinars, forums, blogs, calculators, guides, books, BP youtube vids, and the like! It is endless lol...

Good luck and keep at it! 

Cody