NWA (UofA) College Student Looking To Get Started In Real Estate

[Ikenna Egbosimba]

Hello BP community! My name is Ikenna Egbosimba and I’m an aspiring new investor looking to learn more about and eventually get into the Buy & Hold strategy of rei. I’ve read through the entire BiggerPockets beginner’s guide and now feel confident that’s the area I want to get into.

I’m currently enrolled in the University of Arkansas-Fayetteville as a rising senior majoring in Electrical Engineering w/ a minor in Spanish (Although I’ll probably finish Dec. 2018 due to a co-op/internship I will be working this fall). I am currently receiving a full tuition + room & board scholarship through my university and I am working an engineering internship this summer through December as ^^stated above. This will allow me to have SOME (not a steady flow since they’re temporary rev streams) working capital to evaluate potential deals.

I have been listening to many BP podcasts, reading ALOT, and I really want to take the next steps towards purchasing my first property, preferably something smaller or in the duplex range by the end of August 2018. How difficult is it to qualify for an FHA loan, or any type of loan for that matter, for a student? Would the income earned on an internship or co-op be sufficient for banks to trust for a smaller loan? Is an FHA the best way to go, and if so do I absolutely need a co-sign? Also, what type market conditions in general, for anyone currently in or from the area, should I be looking for entry?

I realize that rei even as a part-time commitment can still be strenuous so I was also wondering if I am moving too fast and should just focus on school and continue to learn until I graduate. My scholarship requires a 3.0+ GPA to maintain the full ride but I have not had too much trouble (fingers crossed) thus far maintaining. I've heard about the REI-NWA group in our area just recently, but haven't gotten the chance to connect with them yet.

I hope to one day build a diverse buy-and-hold portfolio with teams in place that allow me to be hands-free from most of the daily tasks. I currently work a very small recruitment job on campus for the ENGR college. What kind of advice would you offer up on how to really get started? (sorry for the lengthy post!)

ANY advice, networking or tips you have are all welcomed. Thanks again BP community !