I want time freedom.

[Delaney Bantol]

Hi my name is Delaney and I reside in Portland, OR. I've been told that real estate investment was the way to go to gain time freedom. My why is my family. I want to be there for them without worrying about 9-5 JOB. 

I am new to real estate investing and I have do have a deep desire to make it work. No current door properties my belt and I hope to have 1 property in 2024. Thank you and have a wonderful day!

[Carlos Valencia]

Hi Delaney, 

Yes we all want time freedom lol but unfortunately it wont happen over night. The key is to be patient when investing in real estate. Look at all your options and research what type of real estate investing is the best option for you. Many people tend to start with house hacking where you buy a single family property or 1-4 unit property and live in one unit and rent out the other units or rooms if buying a single family home. The benefits of starting your journey with house hacking is that you don't need much money down as you can start with as little as 3.5% -5% down. The goal with this strategy is to have low living expenses as your tenants are helping you pay down your mortgage. Once you move out the hope is that the unit you are leaving will rent for enough money that you will come out positive or break even. Then once you move out you rinse and repeat and acquire your next property. Until you build your real estate portfolio up to what you feel is enough cashflow to live off from your rentals. The goal is to make sure you have high income, good credit score and enough assests and reserves to keep moving towards the next deal and dont max out on your first deal meaning do not max out your debt to income ratio as it can affect your borrowing power to acquire the next one. To get your time back you have to run the numbers as see how much cashflow you will need in order to be able to live comfortable from just your rental cashflow. You may only need 5 properties or 20 properties depending on your lifestyle. Advise is to get in contact with a lender that has experience in structuring these mortgages where you can move on to the next one and plan ahead. Reminder this whole real estate investing is a marathon and not a race. Be patient and before you know it you will reach your goals. 

@Albert Bui @Matthew Kwan