All Forum Posts by: Jacob Rogers

Thank you Spencer,

I will definitely have to look into the Des Moines REIA. I have never been to one so I am not exactly sure what to expect but I am looking forward to it.

Thank you Mr. Welch,

Would you say that a good way to find a successful investor in my market is to look on BiggerPockets for PRO members? It seems like there are many nearby investors who have not been active for years. I know being a PRO member doesn't inherently mean that they are successful or active as an investor but it seems more likely that an invested person would purchase membership. The majority of properties for rent in my area are owned by a few large companies. Is there a way to find a smaller investor that is doing what I hope to do in a year or two?

Thanks again for your time.

Hello BiggerPockets Community!

My name is Jacob Rogers and I am a Junior at Iowa State University in Ames, IA studying Chemical Engineering. I discovered Real Estate Investing through my father last January and since, I have listened to podcasts, read books and forum posts and even toured a couple multifamily properties for sale. I am hungry for knowledge and experience and I am reaching out to see how others learned when they started out.

Did you hit the books until you found your first property or did you have a mentor? How long did it take? Do you wish you had taken action sooner? I would absolutely love to hear from anyone willing to share!

I would love to try and find someone in my community that I could help with their business but I don't how to go about approaching a subject like that without making the conversation about me. I have a busy schedule and as a college student I don't have much money but I have a ton of hustle and a whole lot of passion. My question is, if you had a mentor when you started out, how did you find them and how did you help their business?

Thank you so much for your time,

     Jacob Rogers

I would definitely be looking at a 4-plex over a tri-plex if there were any available around me. There is one multifamily in my town, however, it is a five-plex so I wouldn't be able to qualify for the FHA loan. I appreciate the advice though and I will definitely be keeping my eyes peeled for one to pop up!

Thanks Ryan!

Thank you for your input Joan! I knew that it was probably a long shot. From what I can tell you can have a co-signer for the USDA loan, however, the co-signer must also live in the property. FHA loans don't require the co-signer to live in the property so I may take that approach.

Hello everybody!

My name is Jacob Rogers and I am currently a Sophomore at Iowa State University in Ames, IA. I just learned about real estate investing at the beginning of this year and have been trying to learn everything I can since then (in between studying and classes of course). My question is, as I am a college student, I have very little money but am excited to get into this wonderful world. The problem is that there are almost no multifamily properties that I could house hack in Ames. However, I found a relatively cheap tri-plex in Story City which is about 20 minutes North of Ames. Story City has a small population that would allow it to be eligible for the USDA Rural Development Direct Loan and would let me enter for almost no money down. I am wondering whether or not, as a college student, I would be able to qualify for such a loan? 

Any advice or input would be great. Thank you so much!