All Forum Posts by: Steve Hyduchak

@James Wise I appreciate the encouragement. I agree with the above as it would be useful in many avenues of real estate. My concern is the debt that I will incur. At the end of 3 years I will have approximately 70k in graduate loans. I guess it is a balancing act with me, is that debt truly worth the benefit to my life?

Hey Guys and Gals,

This is not your typical post on BP but, since y'all are going to be similar to me and looking at things from a financial sense I would like to hear your opinions. And a lot of you have experience with what I would eventually like to get into also.

First off, I graduated from a state university with an undergrad in Finance then decided to make the plunge into law school. Moved down to North Carolina and am currently a 1L law student. Took out a 25k graduate loan that has a 6.9% interest rate that is accruing from the moment taken out, even while in school and now I am scared.

Law school is okay, I am top 30% in my class which is okay, but the debt concerns me. As you all know lawyers are a dime a dozen. The market is saturated and I am seeing that even for an "unpaid internship" the market is competitive! It disgusts me. I am questioning whether I made the right financial choice and have plans to finish my 1L year and move on with my life.

At the end of the day I do things as most of you that benefit me financially and will make my life more comfortable. Multiple people and attorneys told me to be weary of law school but I said, "no I will be the exception" and get those high paying jobs. Now I am thinking I may have made a mistake.

I guess I was hoping if any of you are attorneys or have experience with them in real estate what you thought or recommend? Just trying to learn from people's experience that have gone through what I am doing and what others can see.

Thanks in advance!

Steve Sal vatore I too am from the area and went to College at Iup. Do you have any advice for me? I am looking to starting rentals in Pittsburgh... Thanks in advance would love to hear from you

Andrew Fingado when I saw kids waiting to pay top dollar to rent apartments and wait In line nonetheless was appalling and hysterical. It's simple supply. You have a small town that has increased student enrollment of 5k undergrads in 5 years. The apartments are price fixed. The two large companies control the apartment market agreed to coerce together and not lower prices and undercut because they were making so much money. The "invisible hand" was not working in this instance. Kids also have to sign leases in fall semester in October for the following year! security deposit and all, I've nothing experienced such a thing but I promise you this real estate utopia does exist!

Andrew Fingado I concur with all of the above. The town that I am looking to start in is a small town with a state university that increased enrollment 5k undergrad in 4 years. Supply and demand for housing at it's finest. My senior year kids were waiting outside of rental companies at 4 am for the "nice" apartments like they were iPhones!! And they were charging 950+ per tenant a month with no utilities. The college student is perfect, they take loans to pay rent and for nicer than they can afford. It's not the parents coming out to help or say they can afford the nice rental. They simply take the loans to pay and no qualms about it. The summer is a concern but there is always summer classes and I believe "I can make hay when the sun shines" where it will more than balance out the 3 months without tenants if that does happen.

Great to hear back from you guys. I am experiencing and just experienced these college rentals and the top price they can fetch. I see many good factors and a win win for investing. First off you have inflated prices because as you gentleman said kids have "suite" style apartments so the rent off campus has reached 800-900 a month per student in very rural areas! We also have the federal government which the government gives loans to everyone now and kids pay their rent from loans so there is no worry in collecting. My undergrad even collected the whole semester when the refund check came in! And the trifecta which is kids are signing up for college in herds. The bubble will Burst but not for awhile I do not believe. All this considered have you all had good profits and experience renting in college towns??

Hello bp, I recently graduated undergrad and am currently in law school. I am a pawn to the system and have seen what I pay and my friends pay in college towns. Especially ones that are built around small towns. Big money $$$ Love to hear experiences! Thanks in advance

When you guys scoop out areas to find the highest rent-mortgage ratio where did you start? I want to know what avenues you looked at and best investing advice. I am looking in college towns but it all depends on price of property obviously. Any help is appreciated

@Account Closed Thank you! I read you are new here as well but any advice you have I'd appreciate and would love to hear!

Thank you all for the fast responses and warm welcome. I understand I have much to learn and any advice I can receive I would more than appreciate. All of your experience and stories is priceless to me so please do not hesitate to correct me or tell me I am completely wrong. Steven, that is going to be my first route is an FHA loan and possibly occupying - renting the same place I live in and keep levying credit and many from my job I will start once I drop out of law school to build up my rental company. Is there any limits on the FHA as to how much I can take out? And can I lump in multiple cheaper properties into the same mortgage? I want to hit the ground running and get this moving.