Newbie in Austin, TX

[Tim Wang]

Hello BP, my name is Tim! I moved to Austin, TX last year for my first job out of college. It’s funny, I always thought that when I started making money, I would want to spend it on buying myself nice things. But the moment I got that first paycheck (okay, maybe 2nd paycheck :p ), my only thought was how do I protect my money, and make more of it! This initiated my real estate investing journey.

I've spent the past year educating myself by attending the local REIA meetings, listening to the podcasts, and browsing the forums. My goal is to purchase a buy and hold property in the next three months, perhaps through FHA, or subject-to. One thing holding me back may be my lack of capital for a down payment.

Currently, I am looking for a mortgage lender so I can get myself preapproved and find out what funds are available to me. I've been doing deal analyses every day, and realized that PMI in addition to the high property taxes really kills any cash flow I can get from a property. I am also looking for any local realtor recommendations that can help me with my first purchase.

I am young, ambitious, and driven. I would love to connect with fellow like-minded investors on BP and appreciate any advice you may have to give! Thanks!