Source: Ball State Daily —
Being a college student means multitasking between attending your classes and looking for ways to pay back your overflowing student loan. While these setbacks can seem like a challenge to figure out, getting an extra source of income will come in handy in setting you up for future financial success. One venture that will be worth your while is getting into real estate investment.
House Hacking
The first strategy that will help you get into real estate investment is house hacking. This may involve buying a property of your liking, with examples being multifamily homes or condos that speak to your style and income preference. You can live in one of the units and rent out the rest to other students or tenants. Airbnb also serves as another area in which you can invest your spare units. The rental income you get from this venture can help you pay your utilities, leaving you with enough savings to purchase other properties.
If you settle for a mortgage to purchase your property, you stand a chance to benefit from increased equity, helping you buy another investment down the line. In addition, numerous alternative lending programs are currently available in the market, helping you get quick access to funds. You can also choose to partner with family, allowing you to get the most of partners with solid credit scores for better investment opportunities.
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