Newbie from Burlington, Vermont

[Naomi Delabruere]

Hello everyone, 

I am Naomi, a newbie from Burlington Vermont. I have no experience or background in the real estate industry but I am ready to jump in and learn. I initially became interested in the benefits of investing after reading "Rich Dad Poor Dad" several years ago. At the time I was a junior in college with other priorities and a not-so-strong financial position. 

I currently work about 30-34 hours a week as a dental hygienist and have for the past three years. My recent completion of a BS in business administration has freed up a lot of time. No longer being a student, I'm looking for a new challenge! 

I'd like to spend my time doing something that is both lucrative and enjoyable. My goal in real estate is to establish passive cash flow equivalent to or greater than the expected salary in my current field. My financial goal is to reach $100,000 yearly in passive cash flow by 2025.

My beginner plan involves acquiring a small multifamily in the area, living in one unit and renting out the other units. In the meantime, I plan to complete my real estate salesperson licensing requirements, which I have already begun. I expect to use traditional financing through FHA with 3.5% -5% down and an interest rate of 3.8%. I looked at my first property this week!

I'm not sure that investing in Vermont is a good idea, considering the population growth is negative. The legislation here is not conducive to new start-ups and I do not foresee any large employers moving here. A typical 3 bedrooms 2 bath sells for about $350,000-$400,000 in the Burlington market. I'm not sure it can get any higher! Can I expect there to be any inflation (not that I am relying on that)?

I'm very lucky to have found this amazing community of people and I'm excited to interact more with all of you. I absolutely love the podcasts (while feeling slightly bad for anyone who lives in Detroit)!