All Forum Posts by: Haroon Qamar

@Stanley Ezeadi That’s so cool man, congrats on the success! My parents have been doing something similar here in Katy. I’m graduating college soon and have capital saved up to get started on this exact strategy as well.

A couple questions if you don’t mind: what was your criteria when searching for the properties? Also, how did you search for them? Did you use a service like Zillow or hire a realtor?

Don't prices seem a bit inflated right now? I'm assuming it's due to interest rates being low.

I just wanted to give a big thank you to the entire BP community. Everyone here is looking to grow and help each other, and it's a great site to see.

With the inspiration of this community I've been able to reach some very important goals of mine such as savings and learning. I managed to save a lot of my income this year, which was roughly $7500, when my goal was only to save $6000 in total. I also made it through 13 fantastic books ranging from real estate to self development.

For 2020, I'm planning on saving another $9400 and reading 26 books and listening to even more podcasts. More importantly though, I plan to really start networking more. Hopefully meet at least 2 new people a week. I've always been bad at this since I always doubted myself ( who wants to talk REI with a 19y old college kid ), but I'm just going to put myself out there more and see where it leads.

Thanks again BP, keep doing what you're doing and inspire more young ones like myself.

Hey BP,

I'm currently a sophomore in college and I've been saving up money to buy a property within a year or two. Right now I do as much as I can to learn about REI ( Buy and hold Niche ). One thing I especially like to do right now is practice analyzing deals on my own.

To the point. I plan on purchasing a SFH with an FHA loan and rent out the others rooms for my first property. Whenever I analyze just about any deal I never seem to get any cashflow when using an FHA loan. However, if I use a conventional and put 20% down I can attain decent cashflow on the better deals.

Should I just save up for a 20% down payment when investing , and base all of my calculations off of that? Should I expect to be finding cashflow on properties when I finance FHA meaning I'm just looking at garbage deals? Also, when i calculate should I be using the rent from the other rooms I'll be renting or should I be basing it off market rents of the house since I dont plan on living there forever?. (Renting by the room almost always has prettier numbers thanthe market rents).

@Frank Patalano

Something that's been holding me back is wanting to wait till I graduate college and secure a job before i start investing. I'm 18 and I work full time at Walmart making about $1600/month net, and save about $700/month after all my expenses. I have about $6000 in total capital split between my savings, checking, and 401k. Thankfully I have a full ride scholarship to school and dont have to pay for that, and will likely graduate with 0 student loans.

My plan has always been to try and just gain as much capital as I can by the time I graduate in 2022 and buy a rental property once I secure a job out of college.

@Noel R. I have about $2000 in savings and $200 in my 401k. I have a couple credit cards that I've been churning for rewards and using to build credit. No loans in my name anymore, paid off my car in may. I make about $1800 gross monthly and save about $750 per month. If I were to move out my parents wouldn't help and likely wouldn't let me move back.

You think it better to jump in ASAP and rent hack? Or rather save up for a downpayment on a house and house hack down the road? I'll be graduating 2022 with a BBA in Finance debt free.

Hello,

I'm seeking some advice from experienced investors if possible.

I'm currently 18, living with my parents, doing both college and work full-time, my college is paid for by my employer. I've been interested in investing for the longest, and I'm wondering what I should do in my next steps? I'm looking for long term cash flowing properties and debating whether to start now or wait till I graduate college and have a steadier job.