Specialist · IL · Member since 2017 · 6 posts · 1 vote
Hey from Atlanta, Georgia. My name is Gregory Terrell I am 30 years old and I am very new to this great real estate world. I am a medical retired Army Veteran. Rich Dad Poor Dad lead me to Biggerpockets. I am taking a leap and using my VA loan to help me get a jump start on my career. I am really nervous but I am pushing forward. I also want to learn wholesaling and fix n flip then eventually learn commercial. I am always looking to meet good like minded people. Thanks for reading
Hey Gregory, best advice I have is keep moving forward everyday. I'm not too big on books I rather specialize my knowledge by researching only topics I believe I need. I can second that Rich Dad Poor Dad is the book that got the ball rolling for me. I also started reading "The 4-Hour Workweek" and the book had such an impact on me I could wait no longer and had to take action. That being said I have my first house which I'm househacking and haven't picked up from page 50 something in the book.
Hey Gregory, best advice I have is keep moving forward everyday. I'm not too big on books I rather specialize my knowledge by researching only topics I believe I need. I can second that Rich Dad Poor Dad is the book that got the ball rolling for me. I also started reading "The 4-Hour Workweek" and the book had such an impact on me I could wait no longer and had to take action. That being said I have my first house which I'm househacking and haven't picked up from page 50 something in the book.
Hello, Gregory, thank you for your service, from someone still serving in the Army. I used my first entitlement on my VA loan for a home that I am currently renting out. It's a phenomenal opportunity having the ability to use our VA loan entitlements. You may already know this, but due to your medical discharge, the required funding fee for a VA loan could be waived. I placed a link below with more information.
Here are the questions and steps I used to get started.
1.educate yourself on the ins and outs of real estate investing.
2. Get your personal finances together ( improve debt to income ratio, increase savings by eliminating or lowering bills, improve credit score)
3. Create your real estate investing plan. What areas will you target, property buy criteria[3,2, multifamily, sfh]. What strategy will you use [house hacking, fix and flip, tax liens, etc]
4. How are you going to finance your purchase. Are you going to use hard money lenders, Conventional loan or an FHA loan
5. Build the team needed to execute your plan like real estate attorneys real estate agents contractor Etc.
6 find a real estate investor meet up and your local area (network) see if you can find an experience investor thats willing to be your mentor