New Investor in Atlanta, GA
Hello everyone! My name is David Elsea and I am 24 years old. I am still relatively new to the Atlanta area, and purchased my first duplex almost a year ago. (Thanks Mom & Dad for teaching me about savings and having a good credit score so this was possible so young!)
My partner and I are currently living in one side while renting out the other. This helps both to pay down the mortgage, and the money we're saving by not paying the full amount out-of-pocket, we're putting towards a down-payment for our next place.
Our immediate goals are to own/manage a number of smaller unit places (duplex, triplex, four-plex). After we have gathered what we deem to be a "comfortable" cushion of funds and have streamlined the management process, we will either buy a long-term single-family home for ourselves and rest on the properties we have, or make the jump to a 6- or 8-plex to increase our income exponentially, depending on our circumstances at the time.
We both work full-time (which makes renting/renovations interesting, to say the least). After our cashflow matches (at minimum) my current salary, I would quit and manage properties full-time. I do not plan/expect for real-estate to become our sole source of income at any point - only a hefty supplementation. I do not currently have any official real-estate agent licensing or property-management skills. I'm learning everything as I go.