Hey guys,I'm new to BP (I absolutely love it) and I'm brand new to real estate (still-saving-up-my-down-payment-kind-of-new).I was hoping to get some guidance here:My goal is to buy a multi family home in an outer borough (probably Queens, possibly Brooklyn) and become an occupying owner.

By now, it was November and I had absolutely no idea how, without any money and shaky credit, I was going to get involved in real estate.

Absolutely no idea what you'd pay.

Our thoughts are similar, hoping to consolidate in ten years, 2018-2020, sell a few, pay off the rest after capital gains, then have a wonderful retirement.We did see the potential for collapse when our friends who never had investment property in their lives are bragging about forming partnerships with other friends, equally as inexperienced, buying weird shaped lots in strange areas and being absolutely certain that they were going to make a fortune in a few months in 2006-2007.

The "discount off list price" is absolutely meaningless, as list price generally has nothing to do with the value for a short sale.

Last but not least, I see some value in keeping business and personal separate, and currently my rental stuff is overpowering my house and absolutely my garage.Would love some thoughts!

Absolutely David, I'll be in touch!

But anything less than that is an absolute no.So if I purchase a house for 65k, put in 13k in rehab and pay 8k in financing fees, I'd be all in at 85k (deal I did recently).

I absolutely love living here, now addicting to surfing and pretty much stuck living close to the ocean for my remaining years.MFR is my current area of interest in Indi, Atlanta, Phoenix, St Louis, Austin, etc. and look forward to networking with everyone on this site.

We knew from the get-go that we had to tear the house down, and it certainly wasn't our first rodeo in projects of this size, in that City.I'd say if anything crept up on me it was an absolute avalanche of work that came up during the build.