Newbie From Albany, NY

4 Replies

Hello everyone! My name is Jake and I am very interested in learning about buying and holding residential multifamily and single family homes. I am currently studying Accounting and business at Schenectady County Community College and UAlbany, while working for Stewart's corporation. 

I recently became interested in Real Estate after talking with several landlords in my Fiancee's family. They have held property for a long time and were able to pay for their children's education and weddings with the money they had saved. After seeing their success, I started to consider Real Estate as an avenue for my own wealth creation. 

My goals for my investing are to replace our W-2 income, start a tax and bookkeeping practice and position myself for an early retirement. I really enjoy my job, so I want to learn how to create a scalable business that I can control while working full time.

Welcome aboard Jacob!  Brilliant decision getting into real estate at your age, I purchased a multi family when I was 19 and still in college, my tenants paid my mortgage and I basically lived for free and it was the best thing I ever did.  In retrospect, the only thing I wish I did differently was do that about 10 more times throughout my 20's and keep every property instead of selling along the way like I did.  

Another word of advice: Don't be deterred when 99% of those around you say you're too young to buy a house or don't know what you're doing or that landlording is awful.  Just read a bunch, talk to people on here, network, and you'll do fine.  Good luck!

Nice to meet you Jacob.   I'm Nick, I'm new to Albany and fairly new to investing.  If you ever want to talk Albany real estate and run numbers let me know!       I'm currently looking for multi-family to owner occupy myself.    Welcome :)

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