New Member Introductions: Harrison Lieuallen, Tigard OR.
Salutations Bigger Pockets Members,
I'm so glad I found B.P., there is so much useful information here. I live in Tigard Oregon, I'm 18 and I've decided I will retire within the next 10 years. Personal finance has been a passion of mine since 11th grade, the very idea of living without having to work is the most amazing thing in the world, but I know it won't be easy at all.
If Bigger Pockets has taught me one thing it has taught me to be ambitious yet practical. I have a goal, to achieve financial freedom. "Rich Dad Poor Dad" taught me the concept, and "Set for Life" taught me how it was possible. I plan to save up a 25k, within the next year and a half while I have no expenses. Currently I live with my parents and work full time so, as long as they allow, I can continue to save most of my income, even if its not fantastic it's still more than many un-financially educated people save.
Roughly I have 3,800 invested in an index fund, these funds are my savings. Each month I make about $2,000, and I roughly invest about $1,600 of it but I plan to bump that up to 1,800. It's easy for me to save because of my lack of housing and food expenses, I am lucky to be in this situation, but I've also made the conscious choice not to have a car witch saves me a lot of money. Instead I bike to work, this saves a lot of commuting costs.
I plan to house-hack given all it's pros it seems like the right option for me. I would hope to qualify for an fha loan so I can use as much leverage as possible, I don't entirely understand the market yet but after looking on redfin and Zillow I realized how expensive multi family homes in my area really are. Because of this I'll probably look off market but even then I think my biggest hurdle will be financing. I am still quite young, don't make too much annual income, and have no deals in my history, but I have good credit. I looked into how to get a brokers license because I believed it could help my credibility and also teach me a lot but the price doesn't seem practical before I even get my first deal.
With Bigger Pockets I hope to meet people who can help me learn what I can do in this situation and of course see if I could help anyone else despite my fledgling status. I may not be experienced at all but I am very excited and interested in anything I can do to help learn more about the amazing world of real-estate investing.