In pursuit of....

[Aleem Jinah]

Hey Guys,

I am new to this forum so let me tell you a little bit about my self before i get started. I am 23 years old and a Canadian citizen, currently living abroad doing a 6 month management hospitality training.

Education wise I have a B.Comm and an MBA in Hospitality& Finance .
Like many I have been interested in property for a long time and have interest in acquiring houses, apartment buildings and eventually hotels.

Right now I am very interested in the USA housing market due to the heavy decline in prices. The plan I have set out is as follows;

a) move to a state where housing is still relatively cheap and easy to finance (I only have 7k in cash). I was personally thinking Texas ( Dallas, Austin, Houston or Beaumont)

b) Try and work my way up through the property ladder via. foreclosures and purchase of rental units. Obviously I would have to use hard money, seller financing and other methods to get this done... but this might be a good start?

c) Find a job which can support me at least for the first year or so.

d) Join many networking groups and forums to meet local partners (A must! in my opinion)

So! I was curious If i am on the right track? Any extra advice you can give? And whether I am picking the right areas?

If you were to give it all up (wealthy family, comfortable lifestyle etc.) to do something on your own where would it be and what advice could you give me?

Thanks!