What's goin on, Bigger Pockets family!

[Raheem Jamaal]

Well, now that I'm married to this opportunity of real estate investing, I can now introduce myself to my new in-laws; the entire Bigger Pockets family! My name is Raheem. I am 24 years old, and I am slowly, but surely learning everything I can about investing in multi-family commercial real estate. I would just like to share with you guys my plan of action to get my feet wet in the game and my end goal. First, I want to say, I will be attending school to become either a plumber, plumber's helper, or an HVAC installer very soon (I'm thinking HVAC installer) so I'll be initially working a full time job when I begin my investing journey. Currently; unemployed; no credit history; no car; live with mom (not ashamed to say it, but definitely not my ideal situation). Getting my feet wet- My first move in the game will be to do what Brandon Turner likes to call "House Hacking". I will probably put a down payment on a 5 plex. Now I have no idea how I'm going to go about finding the deal for this property (I live in Fredericksburg, Virginia so if anybody knows anything about this market, please by all means contact me or I may decide to move to a different location and invest there) or how I'm going to go about getting the money to make the down payment (maybe one of my BP in-laws can help me out here as well) End goal- I want to own enough equity and generate enough cash flow in my multi-family commercial real estate properties to be financially free to travel first class or by private jet, own an island or a really nice beachside modern luxury estate, a Mercedes-Maybach S 600 Pullman, a couple of luxury watches, and most importantly I want to be able to take my grandma to Canada (she has never been on a plane and has always wanted to go to Canada. Now, I do have a dollar figure in mind, but if I told you, you'd probably laugh at me or...maybe not...because we're all on the path to success together, right?! Hell! I want a 250 million dollar net worth by the time I'm 40!) Now, you may think I'm naive or you may think that that's great and really believe I can do it! Either way I really appreciate you taking the time to read my introduction and any feedback or advice; negative or positive, I'll accept and I will be very active on the BP forums. (: Thanks BP Family!

[Mindy Jensen]

Welcome to BiggerPockets, @Raheem Jamaal . Always nice to have another Brother-in-Law!

I see only one slight issue with your plan, and that is the 5-plex you're looking at. You can get a residential loan for up to 4 units. Anything 5 and over is a commercial loan. So look at 4-plexes instead.

The midwest is filled with affordable markets. If you could move, you may be able to start your investing career more quickly.

If you're living with mom and have no down payment, continue to live with mom and save like crazy. Get a second job, make sure your credit is good and if it isn't, start now to improve it. Throw every dollar you can at any outstanding debt, then save save save.