February 2023 Update

Its time again for another monthly update. I want to be as transparent as possible with this blog and share my journey as I begin to invest.

This month has been pretty positive. As I have shared before, I will be investing with my dad on my first investment property. He was generous enough to apply for a loan that will be in his name because I will not qualify for a loan as a college student with no job. This month we have officially been preapproved for a loan! This was a big sigh of relief knowing that the financials are taken care of. At this point I can continue searching for properties and now know that if I find the right one, we can take action and purchase the property.

That being said, this month’s real estate search has not been the best. I will be house hacking this property and this has brought some unique challenges. One of the major criteria I have for the property is that it is close to the college I am attending. Unfortunately, the properties within walking distance to my school are pretty expensive and will be very challenging to cash flow. This has caused me to look further away to a distance within a 5-7 minute drive to campus.

Because I am looking in such as small radius, there are not that many deals popping up on Zillow. There have been some properties that could work for what I am looking to do but are just on the far side of where I want to live. Looking ahead, I need to sit down with my dad and really create a plan for the type of property we want and the distance away it will be. We already have an idea but as I am searching, I find that I want to have a more solid criteria for a property to purchase. This way when one does come my way, I will be ready to view the property in person and begin the purchase process if necessary.

This month I have also had the opportunity to work with a local investor. I will right more about this experience in an upcoming post but wanted to share a little bit here in this month’s update. I am building a great relationship with this investor and am excited to learn more from him in the future.

Overall this has been a good month with some positive things that are moving me in the right direction. I encourage anyone reading this to keep taking action towards their goals. Stay consistent!