Ready for Financial Independence

[Salvador Hernandez Jr]

Hello everyone! I am new to real estate and have stumbled upon BP through searches and videos on YouTube. I started doing research and reading back in August 2022. It hit me when, by now, 5-year old daughter asked be back in August when she first started school to drop her off. I was excited and of course told her yes! I took the day off and everything went great! It wasn't until the following week that she asked me again to drop her off and told her I could not because I could not take the day off again. That is when I had to figure something out. And here I am!

With my current situation, I decided wholesaling would be my best bet because, like many, funds are really scarce right now with me and I think if I can lad some deals within 2023, I would be able to fund some sort of multi-family property and just keep on growing. I would also consider house hacking if possible. Overall, I am excited and trying to learn as much as I could!

[Salvador Hernandez Jr]

Quote from @Andrew Freed:

@Salvador Hernandez Jr - Great why! In addition to wholesaling, I would implore you to house hack as well. If you can house hack and remove your living expenses, that is equivalent to 10 rental units in my opinion. If a unit cash flows $100-$200 per month and you house hack saving $1,500 per month instead of paying rent, that is equal to you owning that many units. It's a huge advantage to house hack and get your living expenses as close to zero as possible. It allows so many more options in life. 

Andrew, that is actually my goal after I have some success in wholesale. Because my credit is not so great and there are no funds even for a 3.5% down, I am resorting to wholesale to help with saving some funds to move to a house hack. By all means if I did have the credit and funds, I would start with a house hack no questions!