first step to financial freedom

7 Replies

Im scared, but super excited to the point i haven’t been able to get full sleep. After so much sacrifice of building credit, getting out of debt and saving money i finally pulled the trigger. I’ve been pre approved for 555k in such an expensive state ( new jersey ) im aiming for something around 415k-450k. Someone please show me the ropes, its my first rodeo. How to know a property is the right investment. I plan on house hacking, have no kids and im a single man just trying to achieve financial freedom.

Hi Daniel: Welcome to Real Estate Investing. I live in New Jersey as well. I was born in Passaic and lived in Clifton for a while. I have moved to the Princeton area in Mercer County. I'm a buy and hold investor with a triplex and a SFR. Looking to expand with 2 more home this year. Let's connect and talk more about your goals. Maybe we can partner. Thanks.

Make sure you understand the numbers is how you know its a good investment! 

I recommend to use the BP calculator and the watch tutorials.

You've already completed your first step to financial freedom by building credit, saving, and getting out of debt! Now you need to get into the weeds of how to choose a REI strategy, selecting a specific market, analyzing deals, making offers, building a team (agents, wholesalers, contractors, etc). Plenty of info on here in the forums, podcasts, books. Keep learning and networking and you'll get your first deal soon enough. And DO NOT rush into your first deal until just because you feel like you have to.

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