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Updated about 8 years ago, 10/13/2016

User Stats

8
Posts
4
Votes
Robert Boyer
  • Alvin, TX
4
Votes |
8
Posts

Can anybody take a quick look at my entry plan ?

Robert Boyer
  • Alvin, TX
Posted

I am a recent business school grad from the University of Colorado. I came down to Texas to work because I can stay with family and my wife was pregnant, she has since had the baby. So I am not paying any rent. I have some expenses but not too much. I am working to pay off some credit card debt I had from a few years ago due to an unforeseen circumstance with my roommate. My Fico is currently 589, but I am looking to get it up to over 620 soon. I have been using the surplus to pay some of it off. 

Once I get into that spot, I am looking to buy a house here in the texas area to rent. Ill likely take my own loan out. I am really just looking for a little cashflow to cover any expenses and hopefully generate a little income. 

Next Spring//Summer I would like to move back to Colorado and purchase a 3 or 4 family unit with a VA loan and house hack one of the rooms for myself and rent out the other 2 or 3.

I then plan on working as a real estate agent to make some commision and connections to invest in more homes. 

I plan on managing them myself, and maybe hiring a family member or a property manager for the Houston home once I leave. 

Anybody see any faults in this plan? 

I am trying work each day to get closer from talking about it to actually doing it, but I dont want jump head first into a mistake. 

Thanks for any advice. 

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