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Updated over 7 years ago,

User Stats

8
Posts
4
Votes
Daniel D. Foley
  • Sandown, NH
4
Votes |
8
Posts

Newbie brrr investor from Sandown New Hampshire

Daniel D. Foley
  • Sandown, NH
Posted

Hi! My name is Daniel Foley, friends call me "Foley". I am originally from a little town in New Hampshire called Pelham. My passion for real estate started back in high school while helping my dad flip his first investment property. Born into a, middle class, blue collar family I naturally picked up the tools and followed in my fathers footsteps. After high school graduation, back in 2008, my career as an electrician began. Fast forward to 2012, I completed my apprenticeship and acquired a license at the age of 22. That year I bought my first REO property that really fueled my passion to learn and understand this new and exciting world of real estate. Aside from my thirst for knowledge I enjoy things like mountain biking, hiking, golf, disk golf, skateboarding, snowboarding, and well pretty much anything that challenges me physically and mentally. The school of the hard knocks was the path of choice until now. I am so thankful that there are sources, such as the bigger pockets podcast, that cut down the learning curve. Networking with other like minded folks is exactly what I need. Hopefully I get to bring some value to others and absorb some great knowledge. Thanks for the opportunity BP!

I would say that I am one of those people that is caught up in that "analysis paralysis" situation. At the age of 22, back when I bought my first REO property, the real education began. At the time I had an agent searching for these "lipstick deals". After being out bid by cash buyers, quite a few times, she brought me this bank owned deal, located in Sandown New Hampshire. I knew the property needed a little bit of work but I was still able to get a loan using a first time home buyers program. I put down 3%, w/pmi, on a $189k loan which left me with about $20k cash for the renovations. Long story short, I was able to force appreciation over the course of 2 years and buy out the mortgage with an equity line. By doing so I was able to eliminate the compound interest of a traditional mortgage and drastically pay down the loan in just a few short years. To this day I still live in this property with my wife, two kids, and a good amount of equity that I need to deploy into other deals, but at the age of 27 I seem to have come down with a case of "analysis paralasis". I tent to over think, but fingers crossed BP will be the game changer... thanks for reading!

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