All Forum Posts by: Luke Greely

@Matthew Medcalf

I agree with @Jack Medford again. Start talking to lenders and be open to all kinds of house hacks. I spent 2 years just south of Waukesha in Big Bend. I rented a room from my buddy in a 3 bed 1.5 bath SFH for 500/mo. Another friend rented the third bedroom for 500/mo. Our friend (the owner) paid his roughly $1000/mo mortgage with our cash! I think there is a lot of opportunity to do this sort of thing for a guy your age.

Figure out what your options are from a few lenders and how much you need to save up.  That should give you more solid numbers to plan around and develop the strategy that works best for you.  

I agree with Brian! Option 2 sounds good until you run out of cash. If you BRRRR you can just use that same 60k (your savings) over and over again.

The huge benefit of BRRRR from my point of view is that you won't hit a point where your cash runs out and you can't buy deals. If you can build a great team in the market, it sounds like you have a good opportunity! David Greene's Book Long-Distance Real Estate Investing would be a great one for you to check out, I finished it Sunday and highly recommend it! Another good one if you have an hour would be the BP Podcast show 301... https://www.youtube.com/watch?v=3OOl59e2WfI

Listen to Jack here, you WILL be far ahead of your peers in a few years if you play this one smart!  It might cost you 1000/mo for a decent rental in Milwaukee. 

House hacking seems like it could be a great option for you.  Since you're asking about renting I assume you do want to move out on your own?  A house hack could kill 2 birds with one stone by 1.) getting you into your first investment property 2.) getting you out of your parents house.  

@Matthew Medcalf

I would say it depends on what your goals are. Sounds like you have enough cash to make something happen right now. What is your biggest why for getting started in real estate investing?

Thank you all for the warm welcome!

Hello! 

I joined BiggerPockets a few months ago and I want to get more involved in the forums. I am currently a senior in college at the University of Wisconsin-Whitewater. My goal is to purchase my first property in Wisconsin before I graduate in May. I have been researching, reading, listening to podcasts, and learning everything I can about real estate the past few months and I want to take the next step and buy a property!

I wanted to introduce myself and start becoming more active in the forums!

Thanks, 

Luke