All Forum Posts by: Jordan J. Osborne

@Josue Vargas Yes! My apologies for the vagueness. We have a mortgage on a condo right now that we live in. Hoping to rent it out this May. Estimated rent would give us about $200/month in cash flow. We don’t have too much equity since we just refinanced a few months ago to get a much lower rate.

My debt is about 15k and it’s hard to say a pay down date. As a student, I make less than 24k/year. If that was constant, it would take a few years with my current expenses. I’ll know more about that when I graduate and get a job.

Hey everyone!

I’m curious to hear from you guys about whether I should wait to invest in real estate until I get better financials or if it’s not a bad idea to start now.

Background:

I’m a 25 old college student, graduating in 7 months, with political science and economics degrees. I’m using the GI bill so I’m not accruing student debt. I own one Condo that I’m hoping to start renting out within a year. I didn’t start getting my finances in order until a month ago.

My wife makes a decent salary and is the current bread winner in our household.

Dilemma:

I have a large amount of credit card debt, luckily with relatively low APR's (13.499% & 7.99%), but it would probably take me a year or two to payoff when I get a decent job. I also have relatively small savings right now.

Is it irresponsible for me to search for a duplex using my VA home loan (so I can put 0% down) and start house hacking with OPM? Or is it not the worst idea to start early?

Thank you very much for any and all input here!

Good Afternoon Everyone,

         My name is Jordan Osborne and I am a Newbie! I'm only 25 with minimal capital but I know that real estate is the way to go for me. I don't have much experience in this field, but I am hungry for information. I've been listening to the BP podcast every day and different real estate audio books. I have a condo in downtown Salt Lake City that I will be renting out next May. The wife and I will be moving out east, most likely northern Virginia, at the end of next summer. I would like to learn from any Bigger Pockets' members who have the time. My goals are to get between 5 - 10 rental properties managed by management companies. I do understand that I will make less but the cost seems to be worth the time I free up. Like Arthur Garcia (my favorite podcast guest so far), I plan to buy and hold while maintaining a full-time job. 

         Currently, I am considering using a management company called Wolfnest Property Management. I'm not sure if anyone on here has used them before, but I was interested in anyone's experience or review of them. 

Thank you for any help offered!

Jordan J. Osborne

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