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Updated almost 8 years ago on . Most recent reply

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2
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Kenneth Farrell
  • Southbridge, MA
2
Votes |
2
Posts

Hello I'm Ken Farrell from Massachusetts

Kenneth Farrell
  • Southbridge, MA
Posted
Hi everyone an email suggested I introduce myself up until now I've just been reading and learning from bigger pockets. I'm 22 years old and live in MA. I am currently an Internet Manager at a car dealership. I consider myself to be a fairly driven individual and have struggled through quite a lot in my life. Several things lead me to consider investing in real estates particularly starting in income properties. I was honestly looking at house for myself and my girlfriend we are currently paying $1000 dollars a month for a third floor apartment in a kinda rough neighborhood. It occurred to use we could afford a mortgage in a better town if we tried. While looking for a house for us a came across a 4 unit building that was in roughly the same price range as the single family houses I was looking at. It occurred to me I could pay a mortgage but other people could pay my mortgage as well and there could be opportunities to make more money from there. What I'm most interested in learning about is ways of raising money for a down payment. I'm considering a second job and I'm taking steps to be significantly more frugal in order to save more. Any advise on the matter would be greatly appreciated. Actually any advise on anything would be greatly appreciated. Thank you everyone for your time.

Most Popular Reply

Account Closed
  • Investor
  • Scottsdale, AZ
885
Votes |
1,164
Posts
Account Closed
  • Investor
  • Scottsdale, AZ
Replied

@Kenneth Farrell Hi Ken this is Ken. Even though we're not kin we mighta been. So, you say "Actually any advise on anything would be greatly appreciated." You did say "anything" So, here we go. The word is "advice" not "advise". It makes it easier to do deals with people's money and property when you pay attention to the little things. It adds confidence that you are going to do it right. Next, marry the poor girl. Living together is so yesterday. Research shows that marriage makes guys more successful than living together. Look it up. Next, set your goals in writing. Where do you want to be professionally when you are thirty? If in real estate, do you want to do "flips", "cash flow", rentals, notes, commercial, tax liens, "buy and hold"? How many properties do you want to own? Why? Are you doing real estate for the money or for the thrill of the chase? Buy Tom Hopkins book, "How to Master the Art of Selling Anything" and learn it thoroughly. Plan out your year by Quarter and then by month and then by week. Don't spend $40,000 on some guru to tell you how to do real estate. Read, Listen, Read, Listen, and Read Listen some more. There is so much material here that your only excuse for not being successful is inaction. And, by the way, invite me to your wedding. ;-)

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