New to REI and Jupiter Fl

1 Reply

Hello my name is Alex and I am new to bigger pockets and new to real estate. It's been something I have thought about for many years but just never had a mentor to help with fear of the unknown I guess. Anyway I am a new professional who's just moved to Jupiter Fl and I am looking at, I guess what is called, a house hack? My wife and I are looking to get and live in a multifamily unit and rent out the other units. We are educating ourselfs about this process via bigger pockets YouTube videos and I picked up a couple books; Richest man in Babylon, Never split the difference, and was looking at getting Rich dad poor dad. I have finished Brandon Turners free book on real estate and could probably reread it as it was very helpful. I spoke with a financial advisor and I am putting about 20% of my income into a variety of accounts; 401k, Roth IRA, 529, and general savings. I would love to put 50% away but that will take some time. My goals at this point are to educate myself, pay debts and set aside 60k for an emergency fund and down payment on our first unit. However, I understand that I can pull 10k from my Roth IRA for a first home. This has me thinking about possibly jumping into real estate sooner than anticipated granted if I can find the right deal. Any words of advise? Thanks in advance.

Welcome to the area Alex. Be careful not to put too much in tax deferred accounts. While that are great for saving down the road, you don't want to be cash poor and retirement account rich if your young. Also look into Florida college prepay account for the kids if you think they will go to college in FL. 

Feel free to ask me anything. 

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