New Member from Morris County, New Jersey - (long post warning!)

[Gabriel Dizon]

Hi all!

I've been lurking the blogs and podcasts for a while and I decided it's now time to immerse myself in the community. I'm currently

24 (turning 25 this August) looking to get started in the real estate game. I have a full time job working in marketing/sales so my real estate investing will have to be a side thing for now. I don't have much experience in real estate but BiggerPockets has been huge in expanding my knowledge.

I have the following goals for when I hit a certain age for the next 4 years.

25 Get credit score 720+

- Currently ~690 across all three bureaus

26 Close on first rental property

- Planned route is looking for a good deal on a multi family and use an FHA loan on the house. Live in a unit for 1 year then move out. Refinance the existing FHA and use another FHA for another multifamily and repeat the process. I know this is extremely simplified but that's the generalize plan.

27 $100k/year gross income and/or <15% DTI

- Currently $65-75/year with a ~20% DTI

- p.s. I never understood why DTI is calculated gross and not post tax??

- Looking to pay down my student loans fast while still putting some away toward real estate investment funds

28 $1k/month in passive income

- This is already with the 50% rule in mind

- Depending on how each unit performs I assume about $100-$150 cash flow per unit so I need about 6-9 performing units to achieve this goal.

If I can achieve certain goals earlier than the age listed then great! I also have much longer term over arching goals but achieving these goals will inherently be progress toward those.

How can I add value? I'm a big believer in sharing value and business relationships that are symbiotic. Although I essentially know zilch about REI I may be able to help people out in the sales process bettering themselves in that realm. I'm the top sales rep in my company for what I do, I even teach intracompany workshops about rapport building and closing techniques. Sales in principle is interchangeable and relatable in any industry, I'm sure real estate in no exception. With that being said, I would LOVE to meet with any local investors over coffee/lunch and share ideas! Please don't hesitate to reach out!

If you have reached the bottom of this wall of text I appreciate your time!If you wouldn't mind following up with answering these three questions:

1) What book/article has had the most profound effect on your REI and why?

2) In regards to my first rental property what are your thoughts on my plan?

FHA > Multi > Refi > Repeat

3) What is your favorite animal? (Mine is a Giraffe)

That's all! I look forward to seeing what we'll all achieve together!