All Forum Posts by: Evan Jacobs

Hello everybody, Just starting out on BP and starting to lay some groundwork internally to enter REI. That being said, my primary mission right now is saving capital, increasing liquidity and lowering personal overhead. I just refinanced out of the FHA loan on my house into a conventional in July. Decided to do this as a long term fix to get out of PMI faster so I'm saving less than $100 a month now. I'm still waiting to make my first payment on the refinance which should be for September 1. I've already gotten to skip my August payment so that will go far into recouping my closing costs. My mortgage has since been transferred to another company before I could make my first payment. I keep reading that there is a 60 day grace period for late payments once the transfer has been made. My thought is that I have one, maybe even two payments that will come in that grace period. This may be best answered by a lender or mortgage broker but should I take advantage of this grace period and pocket the money I would have paid in that period? I don't want to negatively affect my credit or get into a hole but I would like an additional $2000-4000 in the bank to get started on my first deal. Any answers or advice on this would be greatly appreciated! Thanks! Evan

@Kyle Tokasey

Thanks, Kyle! I sure hope it is a great time. I'm looking forward to developing a good feel for where the market is, in general and especially in my area. Any and all suggestions are appreciated!

Good afternoon everyone!

My name is Evan Jacobs, I'm from Plymouth, MA and I am a husband, father of (soon-to-be!) two, and a full time firefighter. I discovered BiggerPockets about two weeks ago and like many of the new members, I have lurked and lurked and anxiously obsessed over how I would dip my toe in the water. I found no better time than while I'm sitting at my part time job that I have no desire to be at.

My interest in real estate began while my wife and I were shopping for our first home almost two years ago. I've always tried to keep a finger on the pulse of the market even after we bought our house. I had a great time shopping around for houses. If not for the lending process, there would have been no stress at all. I love my full time job, wouldn't want to trade it for anything but when you're in the fire service, you need some sort of work on the side by sheer virtue of all the spare time you have. I never had anything that interested me enough to make my second career, until now.

I have no previous experience but I have been inundating myself with content primarily from BP. I can't get enough of all the articles, blog/forum posts and podcasts regarding strategies, niches, finances (I fancy myself a numbers guy). I've never been this excited for something professionally and I eagerly anticipate getting started. Using the tools I have, as well as the wisdom and counsel of the ones that have been doing it forever, I look forward to challenging myself and continuously learning in hopes of achieving success for my family and me.

In the near future I intend to start working on my business plan, reaching out and forging relationships with investors and real estate professionals through avenues such as local REIA groups (and BP, of course) and gaining all the knowledge I can so I can set off on this journey the right way. I am thankful that I have this great resource to add more tools, as well as sharpen the ones that are already in the toolbox.

Thanks! I look forward to speaking with you all

Evan