Guidance on getting started

[Goanar Mar]

Hello, My name is Goanar Mar and I am from Minnesota, but currently attend the University of Northern Iowa and play basketball there. I have one more year until I graduate and will be playing my last season as well. I am currently in the interdisciplinary program with minors in coaching and sports administration. My family is from South Sudan and moved here right before I was born, being a first generation immigrant, and my mom not being able to speak english we’ve had our fair share of struggles over the years. We have been in all types of living situations from section 8 to my mom finally owning our first house. Through that struggle I stayed focused, worked hard, and remained disciplined earning a division 1 scholarship and having my college education paid for. I recently read “Rich Dad Poor Dad” by Robert Kiyosaki, as many of you have. This opened my eyes to the endless possibilities real estate can bring such as financial freedom and generational wealth. I’ve also read “Rental Property Investing” and “Investing in Real Estate with No and Low Money down” both by Brandon Turner, which I would suggest to everyone! As well as reading I’ve listened to many of the bigger pockets podcasts which has been so helpful in getting familiar with terms, ideas, and my vision.

I plan to start with small multi family properties in Southern Minnesota as a buy and hold investor and collect the cash flow. I want to eventually build up and own 24 unit apartment complex then see what I want to do from there. That is not the end goal but just where I want to eventually get too then who knows what I’ll want to do then. The most important thing to do now though is to get started and take the first step.I genuinely believe you can achieve anything in this life as long as your willing to put some work into it! If anybody has any guidance or words of wisdom I’m all for it. Also I would be interested in starting a small group to talk, update, learn, and communicate with each other about our real estate adventure!

God Bless! Wish you all prosperity and peace of mind!

[Grant Thompson]

Hello Goanar, welcome to the BP community! It's great to hear you are getting interested in real estate from a young age. I got started in RE shortly after graduating college, feel free to reach out if you wish to connect.

Best of luck!

[Tim Swierczek]

@Goanar Mar This is ironic.  I watched you play over 20 games through your JR & SR year at De.  I was at the game where you and Gabe went off in a tournament and put up over 100 on a WI team.  That being said I'm also an investor who started buying duplexes and am now selling off and buying apartments so I have done what you are planning.  Feel free to reach out and we can do a zoom to talk it through.

[Jinhee Hann]

@Goanar Mar

Wow your post was so inspiring. I can tell that you’re super excited and I have ZERO doubt that you’ll accomplish ALL of the things that you talked about and then some. No doubt. I’m already so proud of you!

It seems like you have local folks already reaching out to mentor you.

If you need any general information on the financing part, reach out. I’m a recently retired loan officer. I can give you guidance on what’s available and how to navigate the lending world.

Again, good job and keep crushing it!

[Goanar Mar]

Thank you for the support! Where would you guys think is a good place to start? From what I’ve researched figuring out finding is where many people fall through. Would you suggest at looking at different loan options and what i would be accepted for or start looking for potential properties? In terms of the first property I’m thinking a duplex or triplex potentially a 4-plex but that would be a little more difficult. In terms of the loans options the fha, specifically if I could find a fixer upper and use a 203k to fund deal and rehab would be ideal. Am I far off? What are your thoughts?

[Lucas Miles]

@Goanar Mar your story is very inspirational, no doubt it will motivate you to achieve your dreams! Looks like your off to a great with the books you've read so far, and finding bigger pockets is huge as well! I have a couple properties in Southern Minnesota, and have intentions to continue purchasing more. Love to connect and see if there is anything I can do to help you in your journey. 

[Evan Zeigler]

@Goanar Mar I loved reading about your story and how passionate you are about working toward your goal! I, too, am a college student in my fourth out of five years. I am interested in single family and small multi family investing with my now fiancée in southwest Ohio and possibly for short term vacation rentals. Let me know if you’re interested in chatting more and I’m excited to follow your story!

[Bridget Y.]

Welcome to BiggerPockets, Goanar!! Love your story and shout out to you and your mom for being so resilient! I highly recommend house hacking and checking out meetups. If you are ever in Mankato hit me up and let's get some coffee and chat real estate.