All Forum Posts by: Blake Williams

Thank you, I will start looking for a realtor.  I also have been looking online, and I've recently started driving around the neighborhoods that I think I'd like to buy in so who knows when I'll find something!

Hi everyone, here's a little background on what I'm doing.

I'm 24 years old and my goal is to purchase my first property before the year is out.  I'd like to use the fha program to get a 4 family home.  I'd be living in one unit and renting out the other 3.

My main concern is that my expected source of financing (a bank that I currently work for) won't give me a loan until I am a full time employee.  I am working full time, but because I wasn't hired that way they won't do it until it's official which I expect to be in a few months.

Because I'm very new at this, I was thinking that a realtor would be good for helping me to find a property that fits what I'm looking for.  I'm just wondering if I should wait until the bank is actually willing to give me the loan because if the realtor finds something that fits soon I won't be able to do anything about it for a few months.

Thanks for the feedback everyone.  One of the assumptions that I've been running off with this is that in general, as a business owner you'd make more than you would as an employee allowing you to start investing sooner.

Also, at first I was looking into using fha loans to make a smaller down payment on a first property, but I'm not sure I like the idea of having to pay the private mortgage insurance on that. 

Hello everyone, I've been doing a lot of reading lately and have been trying to come up with my plan for how I'm going to actually get into the real-estate business, as well as what strategies to use once I'm there.

That said, as you know the cost of buying a property can be a large barrier to entry for new investors, and I've been trying to think of different solutions to this problem.

One idea that I thought of, was potentially starting another smaller and less expensive business to help raise the cash for a downpayment.  I was curious if anyone else had any experience with doing this or if you would recommend it at all.

Thank you Elizabeth and everyone else again for your warm welcome!  Just looking at your posts I feel like this is going to be a great community to be a part of.  Also, I feel you've all already given me a bit of direction.

I think that one of my first priorities needs to be determining what sort of strategy I'm going to use in my real-estate career.  I'll search the forums etc... and see what I can come up with.

Thank you Dmitriy, I will be sure to go through those links they seem like a great place to start!

Thank you Jonathan, I haven't begun to invest yet however I would certainly love to speak with you.  I'll be sure to get in touch soon!

Thank you James, I apreciate the welcome! 

Hello everyone, my name is Blake and I'm a recent college graduate from Connecticut.  I'm here to learn as much as I can and meet as many people as I can as well.  I currently work part time in banking and save whatever I can to put towards investing.  My current goal is to learn and save for a year or possibly a bit longer, then purchase my first property.  I look forward to meeting you all!