All Forum Posts by: Alexander Ritchie

there was a good article I read about this that helped me figure my allowances.

http://lifeoffimd.com/2018/03/14/the-w4-form-your-automatic-raise/

Thanks. Borrowing is something to consider. I maygo that route but need especially to make sure I know what I'm doing. Right now I'm learning. How did you go about real estate investing? Did you spend a lot of time learning from different sources? Just jump in and hope for the best? 

I'm new to real estate investing. Right now I'm saving money for a down payment so I can get my first property. Probably will happen sometime in 2020 but possibly as soon as 2019. I'm interested in small multi family and SFR's.

Anyway I want to get on some mailing lists for realtors in the area and figured it wouldn't hurt to see if anyone had reccomendations for realtors in the St Louis area. Thanks

Thanks for posting. I'm new and it is inspiring to hear real stories of things like this happening. How is everything going with it?

Thanks for the post because I'm new to and it's good to know what others recommend who have done this. 

For personal development I just listened to the audio book of Ego is the Enemy which I got something out of.

Good luck

@Michael Schaper

Thanks for the feedback. Right now I'm thinking I'd like to get involved in St. Charles, MO. Possibly other areas around St Louis as well but I'm keeping my mind open to long distance investing too. 

My first instinct was that financially it would be better to live with my dad as well didn't want him to die and me be stuck with no where to live plus didn't know about low down payments on conventional loans. I'll read more about it and look around. Actually thinking about it now though he told me before he'd leave me his place if he died so I may go that route too.  Need to figure out how much it costs to live with him and figure out Loan info and learn more but renting out more units is going to be better if I can live with him for 10 bucks and the low down payment works. 

Ask me anything too.

Have you bought any properties yet?

@Michael Schaper

Thanks for the feedback. Right now I'm thinking I'd like to get involved in St. Charles, MO. Possibly other areas around St Louis as well but I'm keeping my mind open to long distance investing too. 

My first instinct was that financially it would be better to live with my dad as well didn't want him to die and me be stuck with no where to live plus didn't know about low down payments on conventional loans. I'll read more about it and look around. Actually thinking about it now though he told me before he'd leave me his place if he died so I may go that route too.  Need to figure out how much it costs to live with him and figure out Loan info and learn more but renting out more units is going to be better if I can live with him for 10 bucks and the low down payment works. 

Have you bought any properties yet?

Hey glad to be here. My name is Alex. I am 28. I had no interest in finances until about a year ago. I read Rich Dad, Poor Dad and it changed how I looked at things. I never made more than about $13 or $14 an hour. During the last year I eliminated most debt that's accruing interest except a car loan.  Credit score went up into 700's which is really cool. I also improved my income and now took a job as a trucker where it will further increase my income and it looks pretty scalable. 

My housimg situation is good. I'm only in town about 3 or 4 days a month so my dad agreed to let me stay with him for 10 bucks every day I'm there. Aftwr reading Set for Life I'm planning on selling my car and getting an older one which should give me a couple thousand extra dollars. 

Since I'm currently still in training for truck driving i dont have a lot of control over where I stop for food so that expense is higher than I'd like but plan on correcting it when I get on my own.

Currently I plan on learning a lot about real estate and following suggestions found from those who know more than me to get to a point where I can live off passive income generated from rentals within about 10 years.

I'm working now on saving money to buy my first property which I plan on house hacking probably through the FHA loan. Although because my situation is so good with my dad and low rent i may just save for the 20% down payment and rent out my first property while living with my dad because rent is so small. Just a thought. Probably will go FHA house hack route because can't predict health of dad and low down payment and getting feet wet.

 I'm thankful for the communtiy and all of the great resources Bigger Pockets provides. It has been a big help. I'm glad to be here!