Looking to make the leap, from Delaware County, PA
Hi everyone! My name is Dave, and I am currently living in Media, PA working as an engineer. My parents always told me to buy a house right out of college so my living expenses would be going towards an asset rather than a rental which would get me nowhere. I followed their advice, but after reading Rich Dad, Poor Dad a few years later I can see the flaws in their strategy, and see that while it is safe it will never get me ahead.
Now I have cut my expenses as much as possible, have begun paying the minimum on my mortgage instead of the most I could bare, and have been saving as much as possible to put towards my first house flip. My goal is to pursue a series of flips to gain enough capital to start acquiring buy and hold rental properties which I hope can eventually generate enough income to replace my full time job.
To date I have saved up $30,000, which does not seem like enough to complete a flip on my own, but I am getting antsy to get going. I feel I have read up and have the knowledge necessary to take on my first deal, but need to find out what options I have to get there. I have a realtor sending me MLS listings every other day so I can be up on what is available, but just don't have the capital to move.
I joined BiggerPockets to help me make that leap into my first deal, and to share my story and learn about the stories of people like me. This looks like a great community and I look forward to being part of it. Thanks for reading!