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Updated over 5 years ago on . Most recent reply

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James Clark
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New Guy in Erie, PA Introdution

James Clark
Posted

Going to be around 18-24 months before I can have all my ducks in a row to start, but I plan on buying a duplex or triplex around that time. In the meantime I plan on improving my credit (made some mistakes in the past) and start working on getting my money together to have rehab money and a good cushion (I plan to use my VA Loan). I the meantime I plan on reading everything I can. I have recently read Rich Dad, Poor Dad by Robert T. Kiyosaki, along with The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Smart Buy & Hold Real Estate Investing by Brandon Turner.

I know I can get my credit to an appropriate level within 6 months, but I want to ensure I also have the money necessary to back up a good rehab and have money left over for oh crap moments.  So I started saving 10 percent of my income as a start, including all bonuses, and I plan on doing some side hustles as well.  I think I can raise around 25k-30k in about two years.

Until then I also plan to start researching the market in my area and start to pinpoint where I want to invest, as well as look for good deals as practice.  I want to start number crunching now so it becomes easier.  I don't know many people to network with in the area yet, but I have a couple ideas.

Thanks for payig attention to a rambing newcomer!

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