Aspiring Investor in MA

[Claudio Dos Anjos]

I have recently been able to land my first grown up job making more than minimum wage. I am 21 and starting a career in truck driving. I am very lucky because I have zero debt and no bills other than phone and food since I decided to get rid of my car I have no expenses now. I will easily save 2k+ a month. My goal is to savagely save for the next year and have atleast 25k before I even think about buying property. I have a game plan but I would really like running it by someone alittle smarter than me just to see if it is realistic or if someone tried doing this and had some tips. I would like to invest in the Northeast. My mom wants to partner with me and buy property together since she has perfect credit and a better chance at being taken seriously by the banks that will give us a mortgage. we are going to go 50/50 on the down payment and all expenses/maintenance. we will be getting an fha loan and putting 3.5% down which will allow us to have a big emergency fund. We will be house hacking hopefully a triplex. I decided I want something at most 30-45 minutes away from boston. we have alot of contruction worker family members with contractor friends so I think finding something we can rehab may be the smarter thing to do since it will help raise the value and maybe even the rent. My mom and I will be working full time but try to manage the first few properties. My goal is to build passive income so we will be buying to rent out and hopefully never sell. I need to learn about the numbers and the more detailed things which I will do since I will have alot of down time and I listen to the podcast on my 9-10 hour drives every single day. I was raised poor and have no intention of going to college because highschool was enough of a struggle that I didnt even finish. Finding out about real estate investing gave me such an amazing drive and something to work towards and is motivating me to really think big which is something I never really did. This might have been too long of a post but I am so excited about all this and cant wait to learn through this sight