New Member Hello :) Austin, Texas
A little about myself, I am 26 years old born and raised in Austin Texas. I started my working career as 3rd generation auto mechanic in family garage and decided to assist in my uncles remodeling business. This lead me to multifamily Maintenance (apartment a/c guy) which I did for 3 years. The TEXAS HEAT wore me out so I moved into the office and moved up to property management which I did for about 5 years and still currently do.
After much researching and many books/podcast later I feel like I am almost ready to make that first step into Real Estate Investing.
RIGHT NOW : I am 124 hours into my 180 hours to obtain my Real Estate License in Texas. I am around one year out from being completely debt free (car loan) and have been slowly increasing my credit which I am in the low 7's now. I plan on being my own agent for my first property and go the owner occupied route for two years which I plan on renovating in that time frame, then selling.
My plan would be to save up additional funds and add them to my selling profits to obtain a 2nd home and repeat the process of 2 years occupied, renovate, then sell. I am at the age where many of my friends are looking to buy but most are looking to rent and they know I wouldn't give them any lee-way or favors in regards to late payments and would set them up with a standard leasing contract.
I want to get in contact with anyone that have gone this route, and if so I want to know if you recommend after 2 years to sell or rather rent it out. I have managed apartments, done budgets, and know pretty much any and all maintenance issues that could occur as well as many family members in the renovation business. I am hoping by the age of 40 to purchase a ranch and settle down. I am not sure if this would be achieved faster by repeating the renovate and sell process or to have renters pay the houses off and sell all at once. I do not mind being a landlord for one two even ten people as my biggest property managed had about 600 tenants.
Thank you !!! I have heard many great things about this website and thought I would join :) Truly excited for what the future holds.
Respectfully, Alexander