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Updated almost 8 years ago, 02/03/2017

User Stats

6
Posts
1
Votes
Jon Ignatowski
  • Burlington, VT
1
Votes |
6
Posts

I'm new, here's the story, here we go!

Jon Ignatowski
  • Burlington, VT
Posted

Before I even begin my introduction, I would just like to express my appreciation for the BiggerPockets community.  I have been a voracious lurker since October, and the enlightenment I have received thus far has been overwhelming. I have reached a point, however, where I need to stop lurking and start acting.

My name is Jon Ignatowski, I grew up in Rochester, NY, and graduated from St. Lawrence University in 2012. Since that time, I've been through a million different jobs, and have learned a million different things in the process.

For one thing, I've become especially skilled at personal finance and frugality. I can fix anything on a car (I have a 95' Subaru with 217k), I hunt for my meat, I've built structures, and I'm very resourceful when it comes to solving a problem. I'm not afraid of living very simply.

The issue is, I have not made much money in the process, nor was I ever really that concerned. I recently picked up Young, Fabulous, and Broke, my first exposure to investing and financial planning. Rich Dad Poor Dad was the next primer, and since then, I have had an insatiable desire to read everything about real estate.

Here's my current situation:

I'm not a city person by any means (I've tried). My goal is to own at least 100 acres of land, preferably in the sticks. I don't have consistent w-2 income for any bank to even think about lending me money, let alone letting me through the door.

My plan:

My target community is Potsdam, NY. This community is seriously removed from civilization, but also the home to four universities / colleges. It's a small but very stable community. I'm mostly interested in buy-and-hold.

I'm looking to settle into a more stable job with regular w-2, but heck, I don't have the patience to wait two years to start investing. I've read a lot about owner financing, and I think that is the only option I have, aside from finding a partner. 

Or marrying rich.

I don't have much capital, which makes things trickier. I couldn't afford a large down payment, and for that matter, a down payment at all.

Thus, it seems like my optimal situation is to find a congenial retired couple who are willing to owner finance with little to no down. The property has to be in decent condition since I don't have rehab capital, but the property also has to be optimal for house-hacking.

The crux: I want to take the leap into RE. I have the confidence to take care of myself in hard times, and I know I have the ambition and skills to create prosperous times. I just need start, and I have to make the right start.Any thoughts or ideas are welcomed!

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