All Forum Posts by: Brian McCraw

@Keren Threlfall

Welcome to BP!  Another local here :)  Sounds like you guys are off to an awesome start.  Hope I catch up to you soon!

Good luck with the 6 figures!

@Jonathan Twombly Thanks for the reply!  That's exactly what I need to keep in mind.  Having it be owner-occupied takes a lot of the fear out of it as well.  I was going to have living expenses anywhere I chose to live anyway, so having those extra payments go towards building equity in my first rental is the ultimate perk.  Something I can use for leverage later instead of effectively throwing it away in another apartment.

Thanks again for taking the time to post that for me.

I'm trying to buy my first duplex by the end of the year.  Owner-occupied.  I keep reading over and over that you make your money on the BUY, you make your money at closing, you gotta get the BEST deal.  Unfortunately the only duplexes that my fiance and I are interested in living in are priced at 95k+.  We've found the perfect duplex that has a finished garage so it's actually 3 units in one at a list price of 120k.  Is it gonna stay on the market by the time I'm ready to buy in December-January?  If not, will there be another suitable one?  Am I going to be able to drive the price down enough to make it profitable?  Are my first tenants (read: neighbors) gonna be a nightmare?  Am I going to run into a HUGE maintenance issue right after I blow my 401k + savings + tax return on it?  Am I going to regret this whole thing and wish I would have just got a USDA loan on a decent house with far away neighbors and flipped it later when I'm in a better position?

I'm scared as hell but not scared enough to stop me from doing this.  Just got to read all I can and cross my fingers and hope for the best.

Thanks for the warm welcome guys!

Hey guys!  I'm Brian from Spartanburg.

I'm 26 and I'm getting a fairly late start at this from what I see around here.  A string of poor life choices put me where I am, and it's time for me to start making good ones.  I work a dead-end job at a warehouse at the moment, didn't finish college.  I'm starting with a blank credit report and virtually no savings or net worth except a couple thousand in a 401k and a paid-off Audi A4.

Signed up for a secured credit card and a little secured loan a few months ago.  Credit score has gone up 100 points already!  I'm giving myself to the end of the year to save my down payment on my first owner-occupied duplex.  Got plenty of time to read about it and think about it.

I've made up my mind that real estate is definitely where I want to be.  I've already spent many sleepless nights thinking about it.  It feels so good to actually have a goal that is completely attainable and be making real progress towards it.

Just wanted to say thanks for the TONS of great information from the community here!  Look forward to being a contributing member once I have something to contribute :)