New member from Waterloo, Iowa

[Derek Johnson]

Hello everyone

I am 24 years old and an aspiring real estate investor from Waterloo, Iowa. I work at a tractor manufacturing company here with great benefits, (100% covered health insurance), small pension, 401k w/ company match.

I have researched a lot and am interested mostly in buy and hold investing in single family or small multi-unit homes. I still have questions and reservations about the tenant part but love the prospect of cash flow, and small growth of equity over time as well as tax sheltering.

Here's where I am today:

I am married and we had our first child in July. I've talked to my wife and she is on board with the idea of RE investing but still has reservations.

We already bought our first family home. Had I done the research I've done now back then I could have gotten a better one. But everyone has to live somewhere I suppose. Our mortgage is $740/mo for a 2br. Has a 2 stall garage, large fenced back yard and a part finished basement. We have 2 dogs, a german shepherd named Dez and a golden retriever mix named Dallas. We're Cowboys fans! =)

We have paid off all our debt except our mortgage. No student loans, no car payments, no CC debt.

My wife and I decided she should stay home with Brooklyn (our daughter) so we only have one income right now.

I did an income/expense chart for us and found that:

I make $2400-$3200/mo (after uncle sam) depending on overtime and our bills are around $1850/mo.

Basically here to get more info and hopefully some support and encouragement from investors who have been there and done that!