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Updated about 8 years ago on . Most recent reply

User Stats

3
Posts
1
Votes
Sri June
  • Investor
  • Scotch Plains, NJ
1
Votes |
3
Posts

Newbie Investor from NJ

Sri June
  • Investor
  • Scotch Plains, NJ
Posted
Hello everyone! So excited to take the plunge and participate in this amazing community! Background: I'm an analytical marketer by trade and hope to bring my skills to real estate investing. I currently own a townhome as my primary residence. I already have a cash-flow positive SFR in the Austin, TX area. Interests: Looking at areas across the country with strong real estate opportunities. I'd like to eventually do BRRR and multi-family investing but I'm not sure how to get started in either with a FT job. Goals: My intermediate goal is to be able to make enough income from REI to be able to leave my job. Conservatively, I think that would mean approximately $10K cash flow every month. Not sure how long this would take. Long-term, I really want to get started in multi-family investing but again, not sure how to get started with that. Short-term needs: I'd like to get financing for my next deal but not sure how. I have approximately $50K equity in my current property. I'm thinking of getting a HELOC against that. However, I'd be interested in other financing options as well. Not sure I'd qualify for a traditional mortgage considering I'm fairly new in my current job. Any ideas would be very welcome! Looking forward to meeting/working with you all!

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