The Plan for my First Deal

[Juan Rosado]

Hello!

My name is Juan Rosado and I just moved to Dallas Fort Worth (DFW) to work as a civil engineer. Nowadays I am saving money to get my first Real Estate deal. I graduated from the University of Puerto Rico in May 2017 and during this period a friend recommended that I read Rich Dad, Poor Dad. After that I have been listening to Bigger Pockets podcast and reading Real Estate books. This is my current starting plan: save up to 20% of my net salary for the down payment of my first deal in approximately one and a half years ($15k more or less). Also, I would like for this deal to be a multifamily. Moreover, due to the high downpayments these types of properties requieres I would need to find a business partner. It is worth mentioning that besides my current student loan, I have no credit whatsoever (don't know if this would be an issue when I apply for mortgages). Once I obtain my first property I will continue to find more deals on my own or with different partners. My long-term goal (6 years) is to manage 11 units earning a monthly cashflow of $4.4k ($52.8k/year). I would be extremely grateful if I could get feedback on this plan. I am brand new on this but I try to study everyday the business of Real Estates and see how can I find a nice deal to start with.

Thank you in advance and I wish you the best in your investing journey.

JR