Pre-2018 I was homeless, now I'm prepping for 1st home Lincoln NE
A hearty hello everyone.
My name is Matt, and I'm moving on up.
I've been off and on homeless for the past 2 years. While I was homeless, I made my way to Mexico where life is cheaper and I began self-teaching myself to become a software engineer.
After I felt had strong enough skills and confidence to enter the software industry, I came back to the USA to find my first job. Strategically, I moved into my car and made my way to Denver, CO earlier in 2018 where the weather was bearable to live in my 4-door sedan while I networked and got my first job as a software engineer.
After getting my foot in the door and some experience as a junior software engineer, I began searching for a job in a lower cost of living area than Denver and away from the traffic.
Strategically, I was looking for jobs in midwestern cities with colleges and stable economies because my next goal is to own a home and rent out rooms in the home.
As luck would have it, I'm starting a new position in Lincoln, NE in January 2019 where I lived for 10 years before (I went to college there).
Now I'm seeking advice for my first rental property purchase.
My plan is to purchase a house around $90,000-$120,000 in June/July of 2019. The plan is that I will move into this property and rent out the spare room(s).
I only really care about cash flow of this first property and paying it off fast; then doing it again.
I don't care about how it looks really, it's all about income generation.
My goal is to have 5-10 single family homes in the next 5-7 years with a net cash flow of $3,000-$5,000 per month.
With my new career, high salary, and living in a low cost of living area, I'm preparing for the next phase of my life transition as a real estate investor and improving as a software engineer.
My current net cashflow per month is a minimum of $2,450. Some months I'll have $3,800 in cash flow; that is cash flow strictly from my current job after expenses.
I've been listening to Bigger Pockets YouTube Videos, as well as VIPFinancialEd, and Rent LIke A Prop for the past eight months.
I've been taking notes and what others have done, and now I'm about to make it happen myself.
Any and all advice would be appreciated.
I look forward to joining the rest of you on this journey to financial independence...even if I happen to be a late bloomer taking an awkward and difficult path to getting there.
Cheers,
"Makiing it happen" Matt