New Real Estate Investor Intro

New Real Estate Investor Intro

Cleveland, OH · Member since 2022 · 18 posts · 17 votes

Hello all! I've just begun my Real Estate Investing Journey and instead of lurking in the forums I've decided to take a more active approach in participating in the BiggerPockets network so that I can learn from all of your valuable experience and form relationships with other Real Estate Investors and like-minded individuals!

I am an Air Force veteran living in Ohio with my Wife in our single family home that we own in Cleveland. I work fulltime as a software engineer in a job that I absolutely LOVE -- but I want to make sure that I am putting my income stream to good use in growing my assets and securing a financially free future for myself and family (although I probably still want to work because I like what I do).

My goal is to be able to be financially free and be able for myself and my wife to retire in 20 years. My plan to try and reach that goal is to buy and hold Multifamily Homes that can cashflow while continuing to work my 9-5 for income. Currently, we are looking to upsize to a larger home using the VA loan as we are starting our family, and rent out the home we are in right now (which has appreciated by somewhere between 60k - 80k since we purchased it in 2019).

I'm grateful to be a part of this community and I'm looking forward to learning and growing with all of you!

13Reply
152 views

Most Popular Reply

Rental Property Investor · San Antonio, TX (Lender in TX and SC) · Member since 2020 · 196 posts · 253 votes
4y

@Jordan Naeem

Welcome to BP and thanks for your service.  I really like several aspects of your plan:

1.  You have a realistic timeline for achieving financial freedom.  A steady, methodical approach to growth often has more longevity.

2.  You have a really good W2 job that you intend to keep.  That will make finding financing for future deals much easier.

3.  Your plan to kick-start your buy-and-hold portfolio by converting your current home into a rental once you upsize allows you to retain your advantageous owner-occupied financing on the home.  You also understand the nuances of the home and the neighborhood since you've been living in that area for a while.

See this reply in the discussion

26 Replies

Jump to latestLatest
  • Cleveland, OH · Member since 2022 · 18 posts · 17 votes
    4y
    Quote from @Scott Lundgren:

    @Jordan Naeem 

    Welcome to BP, I think you will find there are many great connections you can create here.   Learning from those that have already been down the road you are headed is always a great decision.  I know I've avoided many pitfalls by networking with the right people. Cleveland is a great place to start, many great opportunities there. 


     Hey Scott! Thank you. I can already tell that this is a special community and I am happy to be joining it. I 100% agree -- learning from the experience of others is one of the most valuable things one can do. I'm excited to get started and to start building relationships with everyone here. Thanks again for the welcome!

Join the conversationCreate a free account to reply, vote on answers and follow this thread.