All Forum Posts by: Zachary Kersh
Zachary Kersh has started 2 posts and replied 5 times.
Post: Should I Choose a First Job Based on How Good the Location's Rental Market Is?
- Posts 5
- Votes 2
Thanks Brandon. Any cities you highly recommend?
Post: Should I Choose a First Job Based on How Good the Location's Rental Market Is?
- Posts 5
- Votes 2
Hi BP! I'm a University of Maryland student studying business and about to go into my senior year. In a few years I'll be a rental property tycoon, but should probably get a job first to fund my RE business. And so, knowing that RE investing is my ticket to financial freedom as well as how important a location/market is for investing, how much do you believe I value the RE market while looking for my first job? For some context I'm hoping to invest immediately when I begin working (1 year from now), and am alright with moving whenever there is a better opportunity for my job/RE investing.
Can always count on the BP community to give great advice, so I'm looking forward to everyone's perspectives on a slightly large life decision of mine!
Quote from @Shawn Parsh:
Zachary,
I agree with Wale on steps you could take, but I would also like to ask where you live now? Do you own or rent? Why must you wait another 1.5 years to start investing? If you know you want to invest then I would continue to educate yourself on the business to include financing options. There are many on this site that go to school fulltime, or have fulltime jobs, or multiple jobs and yet still invest. I say if at all possible get started now.
Hi Shawn,
Thank you for taking the time to respond.
I’m waiting 1.5 years mainly because my plan is to locally house hack my first or few properties, and I’m unsure exactly where a job will locate me post-college. In addition, I don’t yet have 2 years proof of income to obtain more traditional financing. I’ll undoubtedly be further looking into different financing options though!
I noticed you invest in Tennessee, where my summer internship will actually locate me, Franklin specifically. I’m also interested in the same style of investing that you partake in—cosmetically distressed properties to renovate, then rent/sell. I’d love to potentially meet up for coffee or even lunch (on me) over the summer and chat a bit!
Quote from @Wale Lawal:
It's wonderful that you're considering investing in real estate and preparing ahead. Real estate may be an investment that is lucrative, and having a clear plan is essential for success. Here are some tips that may be useful.
1. Maintain or improve your credit score, as it plays an important part in obtaining favourable financing.
2. Develop contacts with real estate specialists, such as realtors, property managers, and investors.
3. Explore several financing choices, including FHA loans, conventional mortgages, and private money lending. Understand the benefits and drawbacks of each choice and select the one that best fits your goals.
Remember, success in real estate often involves a combination of knowledge, strategy, and adaptability. It's crucial to remain patient and make informed decisions based on your unique circumstances and goals.
All the best!
Thanks for the great advice Wale. Any advice on how to best connect with real estate specialists so as to further educate myself? I don’t know the exact market I want to invest in as my plan is to house hack local to a job post-college.
I'm currently at the halfway point of my 3rd year in college. I'd love to form a rough plan to invest in a rental property as soon as possible after I graduate in 1.5 years. I'm exploring financing options such as FHA loans and jumping homes to house hack, conventional financing through a mortgage, and hard/private money lending.
Upon graduation I should have about $110K in cash to invest. I'm ultimately looking for models to follow based on your success stories. Thanks!