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Updated over 6 years ago on . Most recent reply

User Stats

5
Posts
2
Votes
Aaron Singh
  • Blaine, MN
2
Votes |
5
Posts

Time to take action so I'm joining BP! Newb from MSP area.

Aaron Singh
  • Blaine, MN
Posted

Hi,

My name is Aaron, I am 33 years old, I am a single dad of 2 boys, I've always worked 2 jobs thanks to my military service (currently serving in the MN ARNG) and I am currently a MRI Technologist at Children's Hospital. 

I was born in England and moved to MN in 1998, the housing market of there is mindblowing to me. I really wanted to get into having some kind of rental property 12 years ago when I bought my first house but decided not too and I had the chance again 5 years ago but I did not take the chance. Needless to say I regret it.  I value time over everything else and my goal personally is to be able to have the time for my children and family when I need it and not be restrained by work or other less important commitments. In 10 years or so I'd like to be working part time if necessary.

I've been listening to the BP podcasts and a couple of others, I'm currently reading "Investing in Duplexes, Triplexes & Quads". I was almost taken by the Fortune Builders course, but I did learn a few things from the free 1 hr sell session they had so I feel that was time well spent. 

My goal is to buy & hold small multifamily (2-4) properties initially in the metro area and achieve enough cash flow to surpass my current income so I have the option to work part-time or even early retirement. My intention with my first buy & hold deal is to owner occupy a duplex in the north metro (so many niche requirements in my situation) and finance it with a VA loan. I will be managing my first property on my own, but once I have a large enough portfolio I will use property management. I just want to learn as much as possible from anyone that knows something that I don't. I'm hoping to refinance in a year and do it all over again. (Maybe BRRRR?)

I have my eye on a duplex currently, given my situation it might be a good start, although I'm going to get every single number I can to crunch them before I even step foot in there. I meet with a real estate agent to talk about getting into REI, and I'll be meeting a real estate company in regards to financing this deal and my future deals in about 2 weeks.

Thanks for everyone who makes this community possible. I can't wait to learn from everyone!

Most Popular Reply

User Stats

5
Posts
2
Votes
Aaron Singh
  • Blaine, MN
2
Votes |
5
Posts
Aaron Singh
  • Blaine, MN
Replied

I'm not sure how to take that, but if I achieve my goals I'll be happy. I guess I'll just say the sooner it happens the better and I'm going to do the work to make it happen sooner. 

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