All Forum Posts by: Brandon F.

@Jonathan Hulen thanks for the advice! Can you please elaborate on what you mean by Co-Signing?

Is it possible to start real estate investing in college? Besides being able to afford the down payment of 3.5% with an FHA loan, can you even qualify? Will lenders qualify someone who is making less monthly than the mortgage costs even if the tenants will be paying the mortgage for you? I'm headed to college next year and want to start building my investment portfolio ASAP, especially if it will minimize the living costs if I can break even on rent and mortgage.

@Joe Nasr it also will depend on if you pay the utilities or the tenants, sometimes the description of the property will include that, but sometimes not. I’d definitely ask the real estate agent

@Joe Nasr here’s a disclaimer... I’m 17 and haven’t started investing yet cause I can’t until i have a steady income and I’m out of college, but I have been learning a lot and I may have some helpful info. When starting out, I wouldn’t look at investing in real estate as being a get rich quick thing but definitely more long term. Especially when you start out I would over estimate the amount you’ll need to put into repairs because they will be random and expensive (from what I’m told). So whatever money you’re planning on setting aside for repairs, I’d multiply it by 1.5X or so. Building steady cash flow takes a lot of time. You don’t have to listen to the info I’m giving you just bc I’m young and haven’t had experience, but from the stories i’ve heard on biggerpockets, it’s mostly gonna be about building experience and it may even cost some money out of your own pocket at first.

@Carlos Gonzalez hopefully things will change for the better in the next 5 years before I’m out of college and wanting to start everything

@Carlos Gonzalez right on! I hope to follow in your footsteps once I get out of college! I'm going to be looking at my investing as more of a business then a personal thing. Which means I'm fine with having to pay for repairs and/or anything that will make my business stronger in the long run. On top of that I'm going to get a full time job in the financial field since I am really interested in that. Gonna live at home for a year or so and save up the money for an FHA 4plex. Something I heard that was really useful was "live how others won't so you can live how others can't" and I thought that was super powerful to hear! My main goal is the long run, building equity, and one day being able to make anywhere from 15-20K a month in passive income! Can't wait to get on the grind!

@Kelsey Folger thank you!

@Joseph Cacciapaglia sorry, I made it unclear with my goals. While my main goal is passive income, I am all for living for free in a rental property and building equity over time. Even if I wouldn’t be making a lot passively, the equity builds and if I owned 10 properties could sell one after a while and use the money to get more down payments on other rentals. My main goal is the long run, i really appreciate it!

Is House hacking worth it? Getting an FHA loan on 3.5% down with an interest rate of 3.5%, usually shows a cash flow below $500. I did some calculations and with a $450,000 Fourplex, and a rent collection of $3,458, you can expect to pay $3,657 in mortgage, leaving you in the negatives. Once you move out of the property you could expect to earn $821 with the added rent from the unit you were living in. Is it worth it to do all the work for this little amount of profit? Or will it pay off in the long run?

@Stone Jin i totally get you! I’m not even allowed to invest for another 6 years so a lot can change in that time. Thanks for the help!