Newbie from Herriman, UT

[Nicole Kemanjian]

Hello BP world,

So happy that I found this forum after reading " The book on Investing in Real Estate with Low (and No) money down". I'm super new to investing, so I am deep into my learning phase right now. I read " Rich Dad Poor Dad" and it literally changed my outlook on life and work. It's what made me decide to start investing in real estate. 

I bought my first home a year ago. Never planned on moving or renting it out. But my plans/ideas have changed. To get started in investing. I am planning on rent out my house, which btw is new construction. I am going to first finish out my basement adding another bed and bath. That would make my home a 4 bdrm, 4 1/2 bath, 2,145 sq/ft ( adding value). Once that is finished I plan on refinancing, since I have an FHA loan and would need to get rid of PMI to have any cash flow while renting. I also plan to pull out some of the equity to purchase another property. I want to house hack. So possibly a duplex or a single family home with a walk-out basement that I can rent out. My thinking behind this is to free up some of my income with house hacking. Allowing me to purchase my next property asap.

Again, still learning, but once I complete those initial steps. Long term goals would be to continue purchasing single-family, duplex, 4-plex type property. Still need to work out those details in my plan, but I feel like I have a solid beginning. :)