Updated almost 3 years ago on . Most recent reply
Buffalo NY new member intro! Thoughts on my situation?
Hello there!
My name is Daniel. I live in Buffalo NY with my amazing partner and our 2 year old son. We are quite alternative folks and have been on a journey of financial literacy awakening and skill building. I am a carpenter/natural builder, and work full time for a small yet powerful contracting company doing historic restoration, general carpentry, natural building, and new builds with a focus on energy efficiency and healthy housing. My partner started her own company, which is small scale apothecary which sells herbal products and other wellbeing services. We are building credit quickly and have some sound budgeting strategies in place. Our family makes about $3.5-4K/month.
We are currently renting and are inheriting $50k from my grandmother who recently passed away. WIth that money we are looking to buy the home we live in (we are loved by the landlords who have offered us first buy) and are looking to begin our real-estate investing journey through something along the lines of the BRRR strategy, using this home as our launch point. Being a carpenter, I have the unique opportunity to fix and flip, and with the market in Buffalo taking off as it is, I feel like now is the time to begin to clarify our vision and make something good happen. We are also highly interested in building short term rentals such as eco airbnb's, as the cash flow of that route and the small footprint/simplicity of that direction would work well with our family.
Does anyone have any advice for someone in our situation?
Be well and take care!