All Forum Posts by: Zach Cohen

Thank you all for your input.

I forgot to mention that if I did decide to purchase a rental property, I would get a part-time job on the weekends beforehand so I am able to get a loan. 

Ideally, I was considering working for the next year during school so that I would be able to get a loan and put down about $20k on a single-family. Due to my low expenses because of my scholarship and living at home, I think a part-time job would help me cover my expenses throughout the next three years even if I decided to purchase a property.

I guess the question ultimately comes down to this:

If I work part time and still have $30k in the bank a year from now, would it be wise to purchase a rental property with about $20k down and $10k in reserve or should I just wait until I graduate and am working full time as an attorney?

Thanks in advance. 

Hey everyone! 

First post here on the Bigger Pockets forums after discovering the podcast a couple of weeks ago. 

I’m from Fort Lauderdale, Florida and start Law School in Miami in August. Luckily, due to my $35,000/year scholarship, I only owe $7k per year x 3 years. 

I graduated undergrad with no debt and have around $35,000 saved up from a business I ran throughout my senior year. My goal in the future is to work in law and invest my money into real estate. 

My question is, am I better off staying out of student debt and paying my tuition in cash over the next 3 years with the money that I have saved up or should I use that cash now as a down payment on a single-family and most likely have to take out loans?

I’m living at home so my only expenses are school. If I decided on purchasing a single family with $20-30k down, there’s a chance I wouldn’t need to take out any student loans over the next three years.

I don’t plan on having a job my first year of school but my 2nd and 3rd I’ll definitely be working part-time somewhere.

Let me know what you think. Any advice/input is greatly appreciated! 

-  Zach