Hey I’m just really new! Atlanta, GA

3 Replies

Hey everyone! My name is Tori and I moved to Atlanta about a year and a half ago. I’m just finally getting in a job that’s stable and looks like it will be picking up financially from here out. I’ve known  that I wanted to invest in real estate for a long time. I’ve been listening to BPP like crazy!!

I’m so hungry, but am unsure if I can do anything right now which I hate even saying because I feel like there’s so much I can’t see yet. 

I have some credit card debt I know that will get in my way when it comes to lenders. We have 2 cars that need to be refinanced, then life and bills will be more simple and I’d have more money to save for real estate. I will do this ^ in the next year. I’ve committed myself. 

What I’d like to know is, what do you guys think? I’m ready to jump, I’m so excited to get things going, but I know there will be bumps and so I’ve told myself I have to conquer the credit cards and cars before any options would even be possible.

Tell me I’m wrong. I want to do something now. Show me the options I can’t see right now. 

Thanks!

@Victoria Applegate

Welcome to Georgia! First off, (in my opinion) I would say your priority would be paying down your debt. Then again, I know some people that are absolutely terrible with money that have succeeded in real estate carrying a large amount of debt.

It sounds like you are referring to you and your significant other when you say "we." Have you ever thought about house hacking? I wish somebody had told me about this process when I was younger, but I can guarantee you my wife will not fly for it now. You may have the opportunity to get some very attractive financing options from conventional methods by using the house packing method. Even if your debt to income may be a little outside the range for an investor, you may still be credible to a bank.

Originally posted by @Tyler Hardy:

@Victoria Applegate

Welcome to Georgia! First off, (in my opinion) I would say your priority would be paying down your debt. Then again, I know some people that are absolutely terrible with money that have succeeded in real estate carrying a large amount of debt.

It sounds like you are referring to you and your significant other when you say "we." Have you ever thought about house hacking? I wish somebody had told me about this process when I was younger, but I can guarantee you my wife will not fly for it now. You may have the opportunity to get some very attractive financing options from conventional methods by using the house packing method. Even if your debt to income may be a little outside the range for an investor, you may still be credible to a bank.

 Yes I have! I may be able to do that in the middle of trying to pay my debts down. I have been keeping my eye out. That may very possibly be the first step for me.

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@Victoria Applegate Who knows, you may be able to find a 4 unit that generates enough cash flow to pay off your debt and generate income at the same time. This forum can be one of your best tools in this process so reaching out was a great idea. I wish you all the best of luck!