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Updated over 6 years ago, 04/27/2018
21yr-old College Grad Seller Financing
Hi BP!
I got into real estate after I got Rich Dad Poor Dad as a Christmas present my freshman year of college and I've been a longtime reader and listener of this site, but this is my first time posting. I love the support and discussions here!
Anyways, after graduating university in May I will be moving back home to southern Connecticut and want to begin investing as soon as possible. At this point I don't have much money to my name, so I have been looking into seller financing as a low-capital way to gain experience, credibility, and cashflow.
Grant Cardone said in one of the BP podcast episodes that when starting out you "should go as big as possible, as safely as possible, as soon as possible" (paraphrasing here haha), and I would like to follow that advice. My interest for a while has been in large C-class value-add MFP, and I recently began reaching out to property managers within a 2-hour radius of my town to see if any of their clients would be interested in owner financing a 15-30 unit building.
I would love to connect with you all and would appreciate any feedback or words of advice or caution! Do you think I should go bigger or smaller? Are there other avenues you would recommend I take to get started? What can I do in the meantime to increase my credibility?
Big thanks to all of you for creating such a great learning environment :)