New member to the Bigger Pockets family

New member to the Bigger Pockets family

New to Real Estate · Belleville, IL · Member since 2018 · 82 posts · 42 votes

Hello,

I am Demario Scott and I have recently subscribed to the bigger pockets many platforms. I am a 21 year old male in the united states Air force and I am currently stationed at Joint base Charleston. I have recently delved into the bigger pockets podcast podcast and I have listened to virtually every podcast, I've read the ultimate begginers guide and I am currently working on set for life by Scott Trench. Through my research i have decided that a house hack for my first property would be ideal I am a young man with no debt and a decent lump some of money that  is liquid. I want to reinvest to start my journey to FI. I desire to buy a property in Charleston, SC to house hack as my first initial step if anyone has information or would like to contact me I am all ears and willing to listen, learn, and help. I have never purchased a property before and its quite exciting. I plan to use my GI bill so if anyone has information on it as well I am game to learn. I am currently on a deployment overseas and I am not sure if I have enough ground work done to buy while deployed. Nevertheless I am educating myself and looking to converse with some like minded individuals. I look forward to being more active within the community and growing in the bigger pockets family.

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Real Estate Agent · Charleston, SC · Member since 2012 · 56 posts · 7 votes
8y

@Demario Scott Yes, I actually live very close to the base and am definitely familiar with the area. It's a good area to be in with all of the industry near by. 

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  • Tucson, AZ · Member since 2016 · 21 posts · 6 votes
    8y
    If you have any questions about VA loan, house hacking with the help of BAH, or long distance RE investing let me know. Currently have 2 investment properties and one is a house hack using VA loan.
  • Dave VisayaPro Member
    Moderator
    Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
    8y

    Hello @Demario Scott, welcome to BiggerPockets! Definitely start jumping into the community here and feel free to ask any questions related to Real Estate investing!

    BiggerPockets
  • Real Estate Agent · Charleston, SC · Member since 2012 · 56 posts · 7 votes
    8y

    Welcome aboard @Demario Scott. House hacking is a great way to get into real estate. Good luck and feel free to reach out if you'd like to chat about it.

  • New to Real Estate · Belleville, IL · Member since 2018 · 82 posts · 42 votes
    8y

    Trevor with you house hack about how long did it take you to start cash flowing after closing cost and and repair and anything additional? Also I planned to to to live in the property for about two years I have been contemplating keeping once I buy but I will be moving to the St Louis area and I am honestly apprehensive about long distance investing. Michael I see that you are working in the Charleston area maybe insight on that would be great. I am reading set for life and I like the concept of living near work to cut down on travel expenses. With travel in mind I am looking to move within minutes of the base if you are familiar with the North Charleston area.

  • Tucson, AZ · Member since 2016 · 21 posts · 6 votes
    8y
    If you do your due diligence when buying the property (no major unplanned expenses right off the bat) and run the numbers (account for repairs, vacancy, property manager, PITI, etc.) it should cash flow immediately. I’d recommend that you leverage your VA loan on the first deal AND live in/house hack the property so you can collect BAH. Number one thing is to make it will cash flow positively or break even even in the worst case scenarios when you rent it out down the road! And keep an emergency fund on hand for unplanned expenses.
  • Real Estate Agent · Charleston, SC · Member since 2012 · 56 posts · 7 votes
    8y

    @Demario Scott Yes, I actually live very close to the base and am definitely familiar with the area. It's a good area to be in with all of the industry near by. 

  • New to Real Estate · Belleville, IL · Member since 2018 · 82 posts · 42 votes
    8y
    @Trevor Muzzy I have been reading Scott trench’s set for life. In set for life he speaks of creating financial runway building that emergency and I believe I have saved a good emergency fund. With regard to the cash flow I have not ran the numbers on many deals maybe only a handful. With that in mind I know I should run more numbers to find deals, but is there anything else I should be doing to find deals. And the cash flow piece will be important so I really need to execute well there. @Michael Limina I was quite nervous to buy in Charleston because I didn’t plan on it being my primary residence. I have been warming up to the area however through research. I’m looking to get a single family but I am open to the idea of a duplex or triplex if the numbers come out well. I am looking to pay around 150 - 200k and I’m looking at a 3-4 or bedroom on a property built relatively new. I am not sure if that’s really possible in the market but in the next 4-6 months I would like to close on a property meeting similar standards.
  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    8y

    @Demario Scott

    Welcome to the BP family! Great that you joined the site! Here are some recommendations for you:

    Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
    Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing

    Wishing you the best!

  • Retirement Accounts Attorney · Southfield, MI · Member since 2017 · 3k+ posts · 1k+ votes
    8y

    @Demario Scott

    Welcome to Bigger Pockets.

  • Real Estate Investor · Charleston, SC · Member since 2016 · 57 posts · 12 votes
    8y

    Welcome @Demario Scott!  My husband and I are interested in that area as well.  Have you seen the investment coming to the old Navy base?  Lots of opportunities.  Let me know if there is anything I can do to help!

  • New to Real Estate · Belleville, IL · Member since 2018 · 82 posts · 42 votes
    8y

    @Amy Bates no ma'am I have not the slightest idea about the opportunities. I am beginner in the real estate investment realm and I am looking to make some okay decisions to give me a head start toward financial independence . Have you by chance been looking further into the North Charleston area?

  • New to Real Estate · Belleville, IL · Member since 2018 · 82 posts · 42 votes
    8y
    Originally posted by @Demario Scott:

    @Trevor MuzzyI have been reading Scott trench’s set for life. In set for life he speaks of creating financial runway building that emergency and I believe I have saved a good emergency fund. With regard to the cash flow I have not ran the numbers on many deals maybe only a handful. With that in mind I know I should run more numbers to find deals, but is there anything else I should be doing to find deals. And the cash flow piece will be important so I really need to execute well there.

    @Michael Limina I was quite nervous to buy in Charleston because I didn’t plan on it being my primary residence. I have been warming up to the area however through research. I’m looking to get a single family but I am open to the idea of a duplex or triplex if the numbers come out well. I am looking to pay around 150 - 200k and I’m looking at a 3-4 or bedroom on a property built relatively new. I am not sure if that’s really possible in the market but in the next 4-6 months I would like to close on a property meeting similar standards.

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