New from Cincinnati, OH - TriPlex under contract!

[Nicholas Morgan]

Hello Everyone! 

I've been reading books and listening to the BP podcast for 2 or 3 months now and decided to jump in last Friday by submitting an offer on a Tri-Plex and they accepted! I'm from the Cincinnati area and the Tri-Plex is in the South Lebanon area.

I'll be doing a house hack by moving into one of the units and essentially getting paid to live there! Which is so cool! Using an FHA loan with 3.5% down. If all goes as planned, will be closing at the end of July.

About me: 

- Graduated with a degree in Engineering Physics with an emphasis in Mechanical Systems from Murray State University

- Graduated college and moved to Cincinnati area in summer of 2017

- I work as a design engineer at a large medical device company

- Hobbies: Building things/tinkering, playing music (classical guitar and regular guitar, cello, bass, etc.), building and flying remote control aircraft, kayaking, fishing, hiking, being outside in general. 

My goal is to have a 6-figure income coming in through real estate by the time I'm 30. I'm 22 so I have 7 and a half years to do that, which should be doable!  I love my job and don't foresee myself leaving it ever. If I want to start my own company later on, having a 2nd income would help reduce the risk of that since I wouldn't be dependent on my current 9-to-5 to pay the bills. I'll be getting married at the end of the year so also having the option to not rely on a job so I can spend more time with my future family is exciting. 

Anyways, hello everyone! I'm excited to be starting down this path! 

[Alex C.]

Hi Nicholas,

Congratulations on jumping in and getting started; it sounds like you have solid goals and a good plan.  House hacking seems like a really smart move, especially in the early stages of your life (before kids, etc.).

It also sounds like we have several things in common. I'm an electrical engineer and my undergrad was in Physics, I play the guitar/bass/drums, and I enjoy trail running and hiking and am getting into paddleboarding.

I've lived in and around Lebanon for about 20 years now, so let me know if you have any questions about the area. I'm in the process of partnering on my first fix-and-flip, so I'm not a seasoned investor, but I've been reading REI books for a year and half, have listened to all of the BP podcasts, and have been focusing on learning the local market from an investing perspective.

Anyway, welcome, and congratulations on jumping in on your first deal (and your engagement)!

-Alex