All Forum Posts by: Daniel Philpot

Thank you @Natalie Schanne for the insight. I do have some money in savings accounts and currently work a good-paying part time job while going to school. I also run a lawn business in the summer. I thought since I will be in Springfield for the next 2.5 to 3 years it could be worth investing in property here. Thanks so much for the thoughts.

Hello Bigger Pockets Community. I am a sophomore in college at Evangel University in Springfield Missouri. I am a finance major and I have a passion to get into real estate. Recently, I have become inspired to purchase a single-family residence and utilize the house hacking method. Here is my why; Instead of throwing money down a hole in the form of renting an apartment over the next couple of years, I want to put that money towards paying a mortgage. Also, I can rent out rooms to friends for a cost below what they might pay in an apartment but offer home amenities. Now that you know my plan, here are my questions. Is this feasible? I am 20 years old with very limited (but good) credit built up. How do I go about getting a 30 year $80,000 ish home mortgage? I could reasonably put down 10% possibly 15%, but would have trouble getting up to 20%. Obviously, I would want to avoid PMI costs. Any and every feedback would be awesome. I have been listening to Bigger Pockets podcasts, reading books, and currently taking a real estate investment class. I want to make this work, thank you for the advice. -Daniel