Saver with an Investing Problem

[Mogi P.]

Hello, BP. Newbie from Houston, TX. I wanted to introduce myself here to gain some contacts, potential deals, and knowledge. First, I want to apologize for the generic "dollar sign dude" as my profile avatar. I will remedy that shortly.

About Me:
I am 26 years old currently working a 9-5 job. I am debt-free with 16k cash in the bank. I don't pay rent since I live with my parents :roll:. Annually, I stand to bring in a net of 26k for the purpose of investing (outside of IRA and 401k). I have been lurking on BP for about 2 months and consuming every bit of knowledge I can get hands on.

I believe I bring enough capital from my 9-5 job not to focus on cash building REI strategies; therefore, I am aiming for cash flow and wealth building strategies. I plan to finance the properties conventionally because this is what I understand right now, but have never ever taken out a mortgage. I am aware of other ways of financing, but am a little wary of them because I don't fully understand them (currently trying to understand how to purchase with private loans and cash out via refi). Am I being apprehensive for no reason?

I am slowly narrowing my buying criteria. Right now, I am targeting SFRs 3 bed/2 bath with 1000+ sq ft in non-war zone areas of Houston. Let me know if this criteria is till too broad.

I have lined up to speak with two intentional landlords in my market to gain more insight, but I am always excited to speak with other investors in the Houston area.

I have also talked to a few real estate agents, but none were a good match for my investing strategies. I am curious...What is the incentive for these buyer's agents to work with investors seeking to buy properties at such low prices? Seems like the low commission would be a big turn off. Should I just skip them altogether?

Two questions, before I go...
1. Given my current situation, am I on the right path or would you employ a different strategy?
2. Who should I talk to/get acquainted/meet in my area (PM me if you like)?

Thanks for your time!

[Account Closed]

debt is cheap right now...use it wisely, and put cash reserves in the bank to stay liquid and cover your butt...banks want to see you having these reserves before they lend you more money anyways...i've bought just about my whole portfolio leveraged...if you buy right (which isn't so hard these days), you can still cashflow great with leverage