New Member Introduction

[Joshua Rice]

Greetings Everyone,

All I have to say is wow, what a gold mine of information I have been so blessed to stumble upon but was it destiny? I have spent the first week lurking within the forums and observing the interactions between individuals before making a formal introduction. You guys are awesome!!

"What are we going to do once we finishing snowballing almost all of our debts?" (or the debt that give you a poor credit score rating). " What are we going to do with the free'd up income" and finally " How much money will i need to retire comfortably and when can i retire?" All these question i started asking myself and wife about 2 months ago. My wife ( now 30 years old ) and I ( 32 years old ) begun or real estate journey in 2013 with the purchase of our first and current home outside Reading, Pennsylvania. We used a 30 year USDA loan for roughly 74k and have since payed it down to under 40k and will pay it off in the next 5 years. Now we have our eyes sight on something bigger then we ever thought we could ever accomplish.

What we look to accomplish, first have enough profit from our cash flow to cover our monthly expenses, goal #2 make enough cash flow (x 2.5 - 3) to retire from working for someone else. #3 retire and pass our success onto our child and future children. How we will get there is getting at least two single family homes under our belt, then quickly into multi-family. We plan to recycle the equity in our current home to pursue our ambitions.

Thankfully we have the guidance and wisdom of my father-in-law to help us along. I work with multiple people who see the value in real estate and invest themselves. It is very nice because they all range from super conservative ( cash-only ) to leverage max potential.

I look forward to interacting and learning strategies that will help put my goals into hyper drive. Have a wonderful day.