All Forum Posts by: Tyler Sample

I am about to receive my undergrad here in Texas and will have about 30K in student loan debt. Is there a way I could buy a home, sell it, and use part of the equity to pay off school loans while using the rest of the equity towards another home? My income will be roughly 50K a year after I graduate.

Hello BP! 

I am currently in school working on my undergrad (22 yrs old) and plan to begin investing in land/property as soon as possible after I walk the stage. I live and go to school here in San Marcos, Tx and this area is growing very rapidly as a lot of you know. Austin/San Antonio is about to be the next Fort Worth/Dallas I just know it. With that being said, I have sold homes with Keller Williams this past year but am now currently apartment locating due to the amount of less stress and knowing so many people my age who need an apartment. I will have somewhere around $30K in student loans when I graduate also. I have heard through the grapevine plans of new housing developments before they are even hitting the press and have been researching a good location for building storage units near these developments. I know location is everything when it comes to self-storage and I know there will be a lot of competition too. 

With that also being said here is the advice I am seeking:

***HERE'S THE BIG ONE*** Should I wait to start any investments until after I pay off student loan debt?

1) Are storage units a good idea for a first time investor?

2) Would going into a partnership with someone make this easier since I have no experience and little finances? I do not want to spend more than what I can afford to lose. (Yes, I have read Dave Ramsey's 'Total Money Makeover')

3) What are the pros and cons of self-storage and are they even worth investing in?

4) If this is not a good investment for a first-timer then what is? 

All opinions are considered. There is no wrong answer for me.

I know this is a long post but for those of you who have time I would really appreciate some feedback! 

-Tyler Sample

@Jeff F. I love it. Thank you! 

@Jeff F. Thank you for responding so quickly! And good question... perhaps I am waiting on my degree because of income security i.e. getting a real job? Plus, I do not believe I would qualify to buy a home... Although I have great credit (731), and I'm sure there are other factors that would come into play, I am only 22. I have actually looked into an FHA "Kiddie Condo Loan" which requires a co-signer but simply do not have anyone to sign (can't get parents on board).

It would be a dream to own a home by next year and rent out the other rooms to friends, however, yes I am in San Marcos, Tx. There is a city ordinance stating no more than 2 non-related individuals may live in a home together. It basically helps to keep neighborhoods quiet and away from parties. Although this is the city law I am positive there are many students who get around it. I wonder how else I could do something similar in a college town?

My passion is to become a full-time real estate investor but will not start investing until after I earn my Bachelors degree. Because I am attending school, I am spending my free time researching investment ideas, strategies, etc. and have come across the idea of developing storage units. What are the pros and cons of investing in these? I do not have experience fabricating or constructing buildings so I would have to consider hiring a contractor, but I have been told storage units are a very fast way of building a cash flow (not sure how steady of a cash flow). Is there anyone that can give me their input? Please & thank you! 

Thanks for the response Will Grabert. Yes, San Marcos is probably more liberal than conservative. To be more specific on my goals, if I want to buy a home I want to buy a duplex or multifamily and rent out the other rooms. But if I keep renting an apartment like I am now and invest in pieces of land (whether it be rural or urban) would I see a faster and greater return than my tenants paying rent each month? For example: Buy a rural piece of land, invest a few thousand into it like a water well or something for livestock, turn around and sell it for 10-20% more than what I paid for. I work with an elderly gentleman right now whom I have been chatting with and he and his wife have been buying and selling property for 25 years and that was an example he gave me. It sounds good but I haven't been around as long as he has and quite frankly I don't know squat yet because I am so young in this business!

I will be ready to buy a home in the next five years, however, I am trying to decide whether I should buy a home or a piece of undeveloped land as my first big investment? I have done a little research in land investments but need advice. In my opinion land could be such a great investment as it does not change or move like a home. I just need a strategy of how to go about this... Any ideas for my first purchase? Thanks

Ok good to know... Thank you all for the responses it really helps. 

I am a 22 yr old realtor in San Marcos and am currently in the middle of switching realty groups... I am going back to school soon to finish my Bachelors and have a full time job. Should I even worry about real estate right now if I am so determined to finish my degree? Should I just shadow someone and gain knowledge in my spare time while I work and go to school? I do not want to put too much on my plate at once. (I will be taking 9-12 credit hours a semester for the next four semesters). I am also very interested in the idea of property management/real estate investing. Please let me know what you think!

Bring it on Kamal Elqutub!