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Updated over 8 years ago on . Most recent reply
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New member from Cape Cod, MA. need advice
Hi everyone i'm Spencer Cleary, 20 years old sophomore currently a student at the University of Maine Orono. As of right now i've just been trying to read and soak up as much information on real estate as i can. Hope to start investing soon after graduating. But have also been looking at possibly buying a home here at school, there are a few i had in mind that seem feasible for me to take on and i would rent out the extra rooms to students/ friends. I have little knowledge but was trying to figure out if i would end up making a profit after i sell, for i wouldnt plan on keeping it for that many years. My current plan, would be to pay the mortgage with rent for two years until i graduate, then to keep the property, and offer free rent to a trusted responsible friend that is younger to be a sort of manager and to make sure the other tenants are not destroying the place as they are college kids and see if i could do that for another year or two. and then work to sell the property and have hopefully of made a profit. id say as of right now i'm just dreaming. but do see this as a good learning experience and chance to get my feet wet. although i do not wish to do it if it's is not worth the time. so would this be a possible investment for me or not realistic?