All Forum Posts by: Dyryl Burnett

Thanks everyone! Really appreciate the words of encouragement and help! 

@Mike Baker thanks alot! I would love to hear how you and your wife overcame the obstacles? I love to hear couples diligently attacking their financial prosperity.

@Joe Moore I am currently living with a relative right now. So I have the advantage of low rent, which has allowed me to pay off some debt. This summer I am planning to SAVE SAVE SAVE. Thanks Sir! 

@Barbara G. Appreciate the words! Alot is premature regarding real estate for me. The more sensible step at this current moment, is to continue to educate myself and save money.

@Steven Skinner thanks. To be honest, I need to research your strategies. Alot of those terms, I've never heard before. 

@Linda Weygant I have 3 jobs as we speak (reason it took so long responding to everyone lol). 

@Gilbert Dominguez sincerely thank you sir! Really needed to read that. 

@Nnabuenyi Anigbogu I am looking into alot of DP assistant programs. Being in CPS does have advantages with that regard! Do you know of any that you would recommend?

@Mindy Jensen Thanks alot. I am a nerd with my budget and finances (love running numbers). The biggest thing or hurdle to overcome is the debt! The frustration starts IN the debt, but I am learning that the mess I CREATED, if done properly, will aid in my endurance and diligence. I just have to keep fighting thru it.

(sorry for the tardy response) Thanks alot! 

@Sean McNamara I will into #4. I know right now, the "pre-newbie" phase that I HAVE to buckle down and keep pushing towards the goal. 

Hello All,

Pray this message reaches everyone in peaceful spirits. 

HELP!!!

For the past two years, I have been looking to get into Buy & Hold investing, however different dilemma always seems to creep into the plan. I desire to approach Buy and Hold via Brandon Turner's term "house hacking." I have a plan to find a distressed four-plex multifamily building, rehab and grow from there. (I have worked on rehabbing two residential houses before, so I have a general idea of the process)

The struggle comes with my finances and career decisions. I work for the Chicago Public Schools (10-month worker as a Dean of an elementary school), and many Illinoisans may know that CPS is facing some serious financial issues/future CUTS! I have been attempting to pay off debt, but due to (being transparent) me fighting for the joint custody of my daughter and my daughter being admitted into the hospital, I'm facing a lot of debt additions. I have no savings (due to the court case) and summer is approaching; which means my main source of income will cease for the next two and half months. I do have two other part time jobs that will help get me by to pay bills. 

I have very high hopes of still purchasing my first income property by the close of this year, but I am stuck at the FIRST step considering the aforementioned dilemmas.

1. I do desire to switch into the real estate sector as far as career, but I question if my limited experience real estate would qualify me for a full time position matching my Dean job?

2. I am really attempting to figure out, how to keep saving when debt continues to grow?

3. I am reaching the point where I've read so many books and listened to so many pod-casts, that my anxieties to get started (knowing I can't) are getting the best my emotions. I feel defeated. 

4. Wondering if I should take a different approach to real estate investing?

If anyone who understands my frustrations could kindly provide wisdom, direction, the steps you took when you were in this "pre-newbie" situation, and/or help, I would sincerely appreciate it.

I welcome the input. 

Kind Regards,

DB from Chicago

Thank you all @John Weidner @Brie Schmidt and @Jonathan Pliszka 

Very helpful and I am about to look into the process now!

Greetings All,

Its me again, DB from Chicago. I am looking to attain my real estate license in IL. QUESTION!!

Considering my plan are to:

1. Own several buy and hold properties 

2. After which, work on Fix and Flips (once having more capital at hand, better credit, etc)

Would getting my license be a waste or aide in my future goals?

Currently, I'm wanting to get my first multi family but Ive decided to pay down debt, boost credit score and save more. During that process, I am considering the idea of attaining the RI License. I figure it could only help, but I dont want to over extend myself (in the education field, looking to attain another Masters). 

Please advise! 

Thanks ALL

@Elisha Keller curious to hear how your NACA process has been?

Greetings All,

I am planning to go thru NACA with the purchase of my first property (multi-family). Wanted to know if anyone went thru this process? Was is successful? Anything that I should know or could prepare to prevent the "paper work hags" that Ive already heard so much about?

Please advise!