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Updated almost 9 years ago on . Most recent reply

User Stats

35
Posts
5
Votes
Cody May
  • Peru, IN
5
Votes |
35
Posts

Just about about my current situation. Any opinion's welcome

Cody May
  • Peru, IN
Posted

Hello BP

First off next thing I'm doing right as soon as I'm done with this post I will be uploading a Profile Picture. It's about that time to do so. I think I found a community that I will be Interacting with often.

I'm new to the Real Estate. I haven't yet purchased a property. I Have just been on here absorbing as much Information about real estate as I possibly can. A Little about me. I am 22 years old with a working heart. I'm very Ambitions I like to do thing's "The right way". I'm single and living with my parent's still, and have a little bit of money saved up. I just need to make some changes, but I just can't decide quite what I want to do. I am really wanting to quit my current job I honestly absolutely hate it. I've been thinking HIGHLY about just quitting, this weekend and just taking a road trip out west. More than likely Colorado, Washington, or Oregon. I'm really not sure what state yet for sure. I currently live at home with my parent's. I am 22 years old still living at my parent's.. SOMETHING NEEDS TO CHANGE. I'm not one to just up and quit a job. Driving a semi is NOT what I want to do for the rest of my life. I deliver to Dollar General stores. All the product is in what we call "Rolltainers". They're just carts full of DG product, and you have to unload the semi trailers by hand. You have to unload Snow, Thunderstorm, blizzard, rain. No matter the weather situation the product has to be unload from the trailer's by the end of the day, or consequences occur. Doing this everyday by yourself really sucks.  I WANT TO WORK. I love the reward of working. I have a little money saved up roughly 9k. I've been considering highly just up and leaving home, and going out west to the state's earlier listed. While going on this road trip. I want to try to find a Duplex, or Triplex, or possibly even a 4plex, and "House Hack". I don't no really if the funds I have is enough to move to Colorado I noticed the housing price's area a lot higher there. Also I'm not sure how it would be living that close to someone who is pretty much playing for you to live for free. Do tenant's usually catch on to the fact there paying the mortgage payment? I'm Really interested in the Buy&hold side of real estate, and eventually flipping. Also on this road trip I would HAVE to find a job while i was out. I can't live, and not have a source of income. More than likely I would try to find a job in the real estate field. It would help out quite a bit with me wanting to invest myself. One more thing holding me back from going on this road trip is I would have to quit my current job. I would just like to hear some any opinion's, advice is all appreciated. Thanks for sticking around for my whole story its kind of boring. I don't have much going on. THAT'S WHY I NEED A CHANGE!!

Thank you BP community Thank you so much for what you've provided from me! Everyone is Great here!!

Most Popular Reply

User Stats

500
Posts
243
Votes
Alex Chin
  • Seattle, WA
243
Votes |
500
Posts
Alex Chin
  • Seattle, WA
Replied

@Cody May - one thing that I would advise, especially for someone just starting out who is seriously considering a house-hack for their first investment, is to keep the W-2 or find something similar to it for at least the forseeable future. You will find a very different reaction by lending institutions for someone who has steady income vs. an entrepreneur who recently quit their job and cannot show a couple years of employment.

Even though they're a pain to deal with, the banks still offer the best, long-term lending options. Very difficult to find a <20% down, <4% rates in the private sector.

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