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All Forum Posts by: Corbyn R Tower

Corbyn R Tower has started 1 posts and replied 3 times.

Quote from @Nathan Gesner:
Quote from @Corbyn R Tower:

You are missing the most important piece: owning real estate.

Stop learning from books and start learning by taking action. Talk to a lender immediately and see what you can qualify for. Buy a house hack. Add roommates and learn how to manage it. When the lender allows, buy another and move into it. Rinse and repeat.

Read Set for Life by Scott Trench or The Househack Strategy from Craig Curelop. You can knock both those books out in a month, then start looking for a property.

Thank you for the advice! I’ve been focused on continuous education rather than taking action, but you’re right.. actually doing it will provide better experience and knowledge. I’ll start looking into house hacking and talk to a lender to find out where I can begin.

A little about me, I currently live in Meridian, ID. I'm 25 Years old. I started by listening to rich dad poor dad books. I've bought every book from Robert Kiyosaki 2 years ago and recently found Ken McElroy about a year ago. By this time, I became so hungry for learning real estate investing. I feel like I've none stop taken information in from as many resources I could find about real estate. It's been a new found passion. My dad taught me decent financials growing up and I'm the only one in my family who hasn't made a financially poor decision(some sort of bad debt or bankruptcy.) I have a stable job, with a place to live and a way to get to work. My dad made what I thought was good money $35 hourly throughout his entire career, and what inspired my journey is learning that my dads really good stable job no longer supported him through his new illness. This has been unsettling and learning this has hit me deep. It has become my main motivator for learning so much about real estate investing the last 1-2 years.

Where I'm at now is I feel like I'm missing out on other stuff I could be doing to achieve my goals. I currently started an LLC and moved some savings over, and now i am currently funding it from my full time job and side gigs but I have some questions. I've considered dropping everything that I'm doing and starting fresh in a new job that will help me learn more. The goal is to achieve a enough money to become full time REI and continue to buy properties in the north west for long term renting.

1. Am I missing out on other steps or opportunities that could help me achieve my real estate goals?
2. Should I be in a different profession or learning directly from a mentor?
3. Is what I’m currently doing; funding my LLC through my full-time job and side gigs the right approach?
4. Is there any recommended material I can absorb to help me achieve my goals?

I appreciate your time and any advice. thank you

My initial thought would be to refinance and then purchase a new property. Then transfer the title to the LLC. but I would consult with someone who has done this process. Just adding my two cents.