Newbie from Atlanta, GA

[Jacob Sanders]

Hey everyone!

I hope you're all doing well on this beautiful Saturday!

I wanted to introduce myself since I'm new to Real Estate Investing. I have actually been a member of BiggerPockets for a couple years now, but I have recently decided to commit to Real Estate. I have been doing a lot of reading, listening to Podcasts, etc. recently and I can say without a doubt that Real Estate Investing belongs in my future. I believe that it will be something that is crucial to my long-term success.

Here are my current goals in REI:

#1. "House Hack" our first purchase of a home. Looking into this being a multi-family home so that we can have some significant cashflow.

#2. Flip our first house by the end of 2018

#3. Purchase a "Buy and Hold" property with the profits from our first flip.

#4. Get GA Real Estate License to help with future projects.

#5. Keep Flipping Homes!

#6. Build Wealth to create Financial Freedom for my family.

#7. Enjoy Life, Be Generous, and Have FUN!

In terms of experience, I don't have any actual experience. Like I mentioned, I am currently in the "learning" phase of the journey. Trying to network, learn, grow, make a plan, and take some actionable steps to knock out my goals!

My plan is to be active on the BP website at least a few times per week for now. I look forward to "meeting" as many people as possible, and I'd love to grab some coffee or lunch with anyone in the area willing to let me ask a ton of questions. :)

Have a blessed weekend,

Jacob

[G. Brian Davis]

Hi @Jacob Sanders, glad to hear you're ready to dive in!

You have a good list of goals. I particularly like #7  :-) 

I think you're on the right track with your first deal being a small multi-unit house hack. You can get good financing (conventional or FHA), with a low interest rate and low down payment. Finding a good investment property is challenge #1, and then challenge #2 is putting all of the money you would have spent on a housing payment toward future investments. It takes a level of discipline that many people don't have, to avoid lifestyle inflation.

I often refer people to this article, when they're interested in doing a house hack. It was this investor's first deal too.

https://www.biggerpockets.com/renewsblog/newbie-ho...

If you do it right, every deal gets easier, because with every deal you have more cash to work with and more experience to lean on. 

Keep us posted on your progress!