Hello everyone, newbie here.

[Scott Richards]

Hello everyone, my name is Scott and I'm from the Chicagoland area. I'm a combat veteran who would like to use the VA loan for a multiplex if I can find the right deal. I've joined BP recently, but figured now was the time to introduce myself. Because I'm new to real estate, I've been buying books and doing research on the local markets in my area.

I suppose renting properties would be my niche due to my affinity for monthly cash flow. I have a business partner who is doing this with me.

Any suggestions?

Scott

[Liam Goble]

@Scott Richards and use your loan for a small multi-unit. You will learn what it is like to landlord, while having your rent paid by your tenants.

If you've read anything on BP, you know the buy-and-hold method is not a get-rich-quick scheme. My wife and I have a goal to be financially free in five years (we're 1.5 years into it). Reaching that goal will be exceedingly difficult, but we're still working towards that goal. To hit that goal, I've had to expand my REI techniques; for example, I'm going to be starting my first flip on Monday. I plan to use any profits from the flip to add to a down payment on another buy-and-hold.

Lastly, remember: there are always two sides to your income and expense equation: Your Income and Your Expenses. Too many times people focus solely on the Income side of the equation: increase income to become financially free. Reducing expenses also helps significantly. My wife and I recently went through an expense reduction exercise. The only thing that changed slightly for us is our wireless provider (used to pay $140/month for Unlimited talk text data) w/ new provider, we pay $25/month for Unlimited talk text and data while on wifi. For us, it wasn't a big deal. By changing our expenses, we went from saving about $50/month to saving $700/month.