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Updated over 8 years ago,
Newbie from yonkers NY westchester county greetings community
hello bigger pockets members my name is selton i am 29 from yonkers ny. Currently my profession is a over the road truck driver working months at a time getting to travel thru all 48 states, which I'm only missing a few. I have done this for 10 months exactly the pay is decent just finishing up on some credit cards I owe and should be done in the next month or two would a great credit score as a result. Knowing that the score should help in obtaining decent rate loans. As soon am i am done with that my focus is saying up for a down payment on a multi family , but i want to know as much as i can about the process. I have the opportunity of constantly seeing different places aswell as having the opportunity to start my first self owned business . While there is good there's also the bad the sacrifice of being away from family and friends months at a time. I want my trucking career to be my funding to transition into real Estate specifically buy and holding rental property becuase i strongly belief it is a excellent way to obtain wealth. Not only to obtain wealth but be able to live and enjoy life like starting a family not missing out on first words first steps etc and even traveling. Learning that success in life is about the hard work you put in to acquire assests at the same time eliminating or limiting liabilities. I am thirsty for knowledge that will put me in the best position to be successful with my goal of obtaining passive income from rental properties. I don't have much of anyone to talk real Estate with so everything I have learned is basicly from free sources like youtube. I have not read any real estate books yet because I didn't have that some one involved in it to recommend great reads. BP was mentioned to me and everytime I feel I am grasping something new to try and learn. What is worth purchasing to invest in my education of buy and hold rental property? I drive most of my day so I no audio books would be great for me. I feel like the key is to know the language the terms like HELOC for instance home equity line of credit and being able to analyze what a good and bad deal is. If i had to give you my start up plan with limited education I would say utilize a fha loan of 3.5% on a multi family home of 2-4 units only to later have someone tell me look into a NACA instead of a fha loan. I've learned yonkers has high taxes with high rentals income but it does not seem like the best market for me to start off in. So far from reading post on BP I heard the Bronx Rochester and Albany would be markets to look into within my state. Being that I am a truck driver blowing in the wind I have been home 30 days since October 1st when I started my driving career. So when people ask me where will I invest my answer is where ever the numbers make sense not even knowing what a good deal is or looks like. I'm not stuck on investing in my state I'm never there now. At the the same time nyc and westchester county are the only markets I know as far as rental pricing job economy good areas and bad areas. I tried to give as much info about myself my situation and where I want to go without giving a life story I'm feeling I may have wrote to much. Do you feel it's important to sign up for BP PRO in my current position and lack of knowledge and FUNDS. I would appreciate any and all insight on how to better put together a foundation to start upon. This is my first post I look forward to your responsesite and I am eager to become to active in the BP community . It has been a pleasure sharing my thoughts with this community who I feel can relate to me more than my family and friends who don't own any real estate or invest or own any assests just liabilities.