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Updated almost 10 years ago on . Most recent reply

User Stats

71
Posts
22
Votes
Naeem Boucher
  • Investor
  • Paterson, NJ
22
Votes |
71
Posts

Looking to purchase my First Investment Property.

Naeem Boucher
  • Investor
  • Paterson, NJ
Posted

Hello,

My name is Naeem Boucher, I am a college graduate and currently I am employed working in a field that I enjoy.  I am a soccer trainer for a professional soccer team in their youth programs.  However, I have been quite fascinated with the idea of being able to own your own land.  By doing so I understand the possibility up cash flow, equity pay down, and appreciation.  I wish to one day be able to establish enough passive income to the point it surpasses my job income.  Of course that is ideally the end goal in mind, I am looking to get the ball rolling on my first property.  I have been saving up for my first investment property and I have 20k saved up currently working towards hitting 25k by august.  I am looking to put myself in a situation where I can live for free while having some cash flow at the end of the month to put away.  I am having trouble qualifying for a mortgage because my second income cannot be included just yet because I have not established 2 years of work history there.  Now, I have just been saving up patiently waiting.  I have been looking to see if there is any other options, such as partnering on a deal, renting to own or lease option homes.  Please any information I will greatly appreciate it.  I am just looking to get the ball rolling, half of something is better than nothing at all.  I dont have much experience yet, but apparently this social site is full of successful real estate investors that have the experience.  I look forward to hearing back from you all.  (This is my first post ever on the site)

Most Popular Reply

User Stats

212
Posts
169
Votes
Victor Menasce
  • Developer
  • Ottawa, Ontario
169
Votes |
212
Posts
Victor Menasce
  • Developer
  • Ottawa, Ontario
Replied
It's very difficult to amass enough capital by savings alone. My projects usually need equity of 250k each for about a year until we refinance. It would take me years to "save" that much money. But I can usually raise that amount in about 30 days from other investors. Learning how to raise capital is a critical skill that changes the game forever.

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