My 9-5 is not cutting it...I want to reach financial piece!

[Julien S.]

Hello Everyone!

My name is Julien and I am 23 years old and living in the south shore area of Boston(About 20-25 mins away from the city). 

I graduated college a little over a year ago and currently work in Tech (Remote/Hybrid). Over the past year, I have been looking for different ways to achieve my goal of reaching financial freedom. 

I've always had an interest in real estate but never committed the time to learn more about the industry.

A few months ago I stumbled across the BiggerPockets podcast and BiggerPockets.com and I have been consuming as much information as I can about REI. I have read two books ( "How to Invest in Real Estate" by Joshua Dorkin and Brandon Turner & "The BRRRR Rental Property Investment Strategy Made Simple" by David Greene) and I listen to the podcasts almost every day.

My goal for 2022-2023 is to purchase my first REI property as a House Hack and purchase future rental properties using the BRRRR method.

The end goal with real estate is to have enough cash flow to retire by 40-50 years old, as well as help my parents purchase properties for themselves so they can retire off of the cash flow.

I am looking forward to learning as much as I can on the BiggerPockets forums, as well as contributing to the community to help others beginner investors as I start to gain more experience. 

* I am looking to meet with local investors in the Boston area who can meet for a cup of coffee or a beer and chat about REI investing. I would love to pick your brains about a few things and maybe even discuss potential deals we can work on together! *

- Julien S

[William Anderson]

Julien, 

Nice to see young people develop goals. Don't give up that day job.  The reason is this; successful investing in real estate takes excellent credit and cash in the long run.  Starting you can try some of the "deals" that do not require great credit or cash but in the long run, having access to the income from your real job will greatly help you move ahead. 

Eventually, you will be financing with experienced people and banks, etc. look at assets and great credit before they lay out the big dollars.  So keep working a w2 job and saving towards more investments.  When you have established a business running profits through it and filing tax returns, you can start to move away from the w2 job and use your profits to live on.

Regarding retiring at 40-50, probably not going to happen.  Shock.  The problem is that you have decided to get into a business that gets under your skin.  It will become as much a hobby as a vocation.  Passive income is addictive and while you may not be drawing a regular paycheck at 40-50 you will need something to keep your mind busy and trust me, sipping umbrella drinks on the beach is not the answer.  Fortunately or unfortunately, most of us entrepreneurs find that our property investing activities are part of our DNA.  

If you can really walk away when you are 40-50 great for you.  At the very least, you have a plan.  Good luck