May '21 College Graduate from Chicago Suburbs

[Sam Nayyer]

Hey BP family, my name is Sam Nayyer and I'm a newbie investor that will be graduating from the University of Iowa this May! Post-graduation I am looking to jump right into the industry and get started in property management (open to commercial, or residential opportunities). 

I am still in the process of narrowing down a market, but currently am honing in on Austin, TX, Phoenix/Scottsdale/Mesa, Denver, and South Florida (Miami Dade). I understand narrowing down the market is the next step in the process, but also is contingent on where I can get a job. 

I am initially looking to get started with house hacking wherever I do end up and then transition into the vacation rental game as I am very passionate about traveling. Long-term I think I would also like to dabble in long-term rentals as well, but don't want to get too ahead of myself. 

Any insights/feedback/advice is greatly appreciated; I look forward to getting to know you all and beginning this journey to financial freedom!

Sam

[Chris Freeburg]

@Sam Nayyer I'm no lender, but I can tell you that they're going to want an offer of employment letter before pre-approving. Past 2 years of W-2's won't be a big issue as you were in school, but you'll need a job offer first, and then I'm sure underwriting will want to see paystubs as soon as you start.

As far as markets: If I were your age, I would look at where I want to live. I don't think you can go wrong with any of those markets as far as real estate goes, but they are very different places to live. Colorado = mountains. Texas = ppl who head to CO for the mountains. Denver & Austin are young and growing cities. You've got spring training, golf, and snow birds in Florida and Arizona.

Where every you end up, house hacking is for sure the best path to building wealth. It's what I do in Denver to build my real estate investment portfolio and what I help many of my young clients with as well.