Here is my situation...

9 Replies

So here's my situation. I am 18 years old working 2nd shift welding products for the Navy. I can save about $3,500-$4,500 per month depending on overtime. I just got my first credit card to start building up a credit score. I've been listening to podcasts and reading constantly on bigger pockets plus trying to analyze a deal per day (which I'm having trouble with). I'm also the "unofficial" aquisitions manager for a team of 2 investors that do flips.

I want to have rental property and I'm in between investing where I live (York, PA) or going OOS to NC (around Fayetteville or Durham). A part of me wants to go in with other investors on a bigger multifamily or a MHP, but another part of me says to start out with a smaller multifamily and go from there. I also want the properties to be more passive so I'll need a PM.

I need my rentals to make enough cashflow so I can quit my job so I can build other businesses (if you want to know what businesses I want to build, just ask me but I'll keep this post about RE only). I feel like the Lord has led me to RE so I can be free to do what He wants for my life without worrying about money. I just need some guidance.

*If you got this far, you're very appreciated even if you don't comment!

I'm personally a fan of starting out smaller, 2-4 units and house hacking. I'm not sure how your capital is, but you could do FHA 3.5% and live in one of units. It really depends on your situation, $, and goals.

@Nathan Barshinger you need to walk before you run

SEPA is a good market the fact you want to go out of state when you’re sitting on gold is concerning

You need to start running numbers daily until you understand what youre looking at

I’m sure myself or some of the others who invest in York would be willing to partner on a property once you show you’ve done some learning and aren’t all piss and vinegar

@Mike Ost really? I had no idea that York was a good market.

That's my next thing I need to do -run the numbers every day.

That would be amazing! Although I feel I do need to learn more.

I've been reading a couple articles and listening to about 6-8 hours of podcasts every day so I'm building up my education as much as I can!

Originally posted by @Nathan Barshinger :

@Mike Ost really? I had no idea that York was a good market.

That's my next thing I need to do -run the numbers every day.

That would be amazing! Although I feel I do need to learn more.

I've been reading a couple articles and listening to about 6-8 hours of podcasts every day so I'm building up my education as much as I can!

im not trying to come off as a jerk, its just hard to partner with someone when you're not on the same page

I am turning over a rental in York this weekend and getting ready to re-list, if you want to stop or meet up for a chat let me know, I can show you numbers etc  

 

@Nathan Barshinger

Sounds like you are on a great path! Love that you are saving your hard earned money while you are taking time to educate yourself and do this right. You have a golden opportunity with the investors that you are helping to learn.

As others have said, I would take it slow. Maybe just do a single family rental or a house hack to start. Learn the process, and then scale up from there.

Keep on reading, learning, and asking questions. The right opportunity will present itself!

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