Newbie from Boston Massachusetts north shore area

[Fernando Antonio Rijo]

I'm Fernando, 23 years old. How are you guys? Well I'm new to bigger pockets website, not only that but I'm new to everything in real estate. Trying to learn something new and better than what I do in my life. I'm trying to get into whole sales, short sales, and or fix and flips. I'm trying to figure out what my first steps should be. I have been doing a lot of research on these types of businesses but I still have little to no idea. I can't really get a good grasp on how to start off. Could anyone lead me in the right direction?? Thanks would love to hear from you guys.

[Keith Pentz]

Welcome Fernando!!  I was just in the middle of a draft of my blog and will have it out tomorrow regarding buying 2 Homes in 1 Year with 8.5% down. Fits you perfectly bro.

Buy your first house as an owner occupied FHA Multi Family (3.5% Down) collect rents, live there for a year, get used to being a landlord and the responsibilities involved...after 1 year go buy a nice single family home with a Fannie Mae Loan - 5% Down and rent out the unit you moved out of in the multi. So while you live in the multi the rents from the other units cover the mortgage plus a little gas/beer/savings! money. After you move out now you own 2 properties and are paying maybe a few hundred bucks for you single family mortgage? Priceless...If you buy a single family first for 5% down then you are looking at 25% down for the multi purchase!

Sorry this is all over the place and just blasted out there. It will make more sense manana when I map it all out but this is THE WAY TO GO to minimize your own money invested.

I'll ping you when I have the Blog finished. Let me know what towns you are looking to live in and I will let you know the loan limits and loan officers that can assist.

Welcome again and you are in the right spot!

KP