Saying Hello from Albany, NY

[Chris R.]

Good evening, all.

I'm here to introduce myself as a newbie investor & first time home buyer from the Albany, NY area.

I'm a 30 year old surgical/cardiovascular intensive care unit RN employed full time. The past few years have been good to me financially (I made the switch agency nursing recently) and I've been saving money like a squirrel saves nuts.

My girlfriend and I have been living in an upscale apartment complex for several years now and writing empty $1100 checks monthly really started gnawing at my soul. BUT, the plan was always to purchase a duplex of my own and house hack my way to multiple multi-family's. I'm a little late to the game at 30 years old, but life is certainly a journey. What's my why, you ask? Future security with passive income, I don't want to pound the cement on hospital floors my whole life. I love my job and at the same time, it's pure abuse to my body. There's only so much of yourself you can donate before it really takes a toll on your life and your family.

I'm writing now because I've recently purchased a tri-plex in my area soon to be owner-occupied. While it's not the most amazing looking unit aesthetically, the roof is brand new, and it's been immaculately maintained and fully rented since 1970. It was obviously a money machine for previous owner who wants to move to Florida while liquidating a large portion of her assets in her 70's. The building needs absolutely nothing other than pulling up some carpets and a fresh coat of paint on the walls (my girlfriend says otherwise, and begs for a kitchen and bathroom remodel...but I have to stay focused on cash flow and ROI). The rents are far under current market value and raising rent is first order of business (one excellent tenant has lived there 12 years with a rent $200 under market value...what to do, what to do?). I'll post more about the specifics in another post but I wanted to say hello and that I'm incredibly excited to get moving in this new world of real estate.

I have a tendency to go all in, learn and read until my eyes bleed and eventually master any task at hand. I'm a self taught jazz piano player, and I have a semi-professional photography business in pet/people portraiture (people pay far more on their pets than they do themselves). Any skill can be learned and mastered these days with the wonderful world of the internet, I wish I had today's world wide web as a kid! Can you imagine? Anyway, I'm looking forward to reading your stories of success (and failure). 

I close on September 20th, fingers crossed. I'll make a post elsewhere outlining the financing, income and expenses.

My Best-

CR