Hello BP Community!
My name is Adrien and I can't express how grateful I am for this community. I can't imagine a time where I am not able to access information as easy as Bigger Pockets make it seem. I've graduated from college on August and have been working a full-time job since as Mechanical Engineer. My mother knew I didn't want anything else for graduating other than a house. She knows that my main goal is to help my family through real estate in the long run. Right now, I've saved a decent amount of money and on top of that my mother's willing to pay for my down payment. I've already been pre-approved, setting my budget for somethings $350,000 or less.
I just wanted to express some questions I have for anyone reading that is in the local area. I wanted to find out if any of the people here in the BP community knew a reliable 203k contractor. One of my fear is going over the budget that the loan provides for me for rehab. At the same time, I am having trouble estimating how much rehab costs because it varies for every location. Should I call every 203k contractors in the area and ask them for the $/sq for tile installment, floor, bathroom, etc? I would appreciate any response I get from any of you! I would appreciate any other contractors as well because I know that they don't have to be certified. I just want to hear from those who already went through a RE deal in New Jersey with a FHA203K loan. Thank you!
I can't wait to connect with everybody here and especially people in the area who could become lifelong friends of mine! I am definitely here in the long run and this isn't the only thing I do to help myself move towards my FI goal. My job do not require much labor so most of the time I am free because the tasks given to me I can accomplish in 30-60minutes. While I am free at work, I look at the stock market and place 90% of my money into long term stocks(or a swing) and swing trade 10% of my money into options. I'll be taking any profit I've made so far and using that for my downpayment. To be honest, I am extremely unhappy with my job because I am not learning, but I am just sticking it through until May 2021 where I will get a job in Rhode Island with my bestfriend in college. This is why I want to get a BRRR going before that time so at least my FHA203k contract would be reaching 1 year by then. Thankfully I met a friend who is willing to share any type of insight to get me jump started in this.
Thank you to everybody involved with this community and actively helping newbies like me! I can't wait to make connections here! Happy holidays everyone!
Best,
Adrien
