New investor from MA/NH
Hello BP Community,
I am a 23 year old from the Boston area looking to learn more about buy and hold properties as a means of creating passive income. I work an office job that allows me to consume audio media for the majority of my day. It started with a few other financial podcasts and reading Rich Dad, Poor Dad, and now a few months later I've ended up here. I have an idea of the strategy I want to use for a specific niche of investing, specifically turning a single family home in an expanding college town into a rental property. My criteria is: walking distance from important facilities: AKA bars, academic buildings, and food (in that order), homes that are ready to rent because the little capital I have I want to save for unexpected expenses, and homes that have as many, if not more, bathrooms than bedrooms. I also want to buy a home from a family looking to sell to a family. The reasons for my last two criteria are: college students won't rent a house with anything worse than a 2 person : 1 bathroom ratio and bedrooms are easier to create than bathrooms. Also, I do not want to buy a house from a rental investor. I think i can find a home very undervalued if cash flow isn't a selling point that the homeowner can use. I also plan to self-manage my property and would be grateful for an opportunity to learn from those of you who manage your own college rental. Also, any book/ podcast recommendations on creative financing are greatly appreciated. Thank you for any guidance you can give!