All Forum Posts by: Jabbar Adesada

Interested in the one in Beaufort

PM for email

I love this community! Thanks for adding me on this thread @Scott Trench. 

Hey Daniel I was in such a similar position to you it is not even funny. I am 21 years old now with 10 units with 3 more under contract, active duty marine, NO BAH, travel a bunch, and super ambitious. 

My biggest advice is to focus on building relationships with as many real estate investors, agents, wholesalers, and contractors as you can. You should absolutely leverage your VA loan to house hack in Panama City, Florida.

Somewhere within an hour vicinity of you is a smoking deal hopefully a quadplex where you can live in one unit and rent out the others as long term rentals, rent by the bedroom, medium term rentals, or short term rentals. There are other variations of producing cash flow with your VA loan I did not mention. House hacking in my opinion is probably the simplest and best way to get started because you'll learn what it is to be a real estate investor with possible no to extremely little money out of pocket, and build wealth through cashflow, appreciation, and loan pay down.

I would listen to all the podcast episode you can while you are on the search for your first deal, I would recommend using a realtor for your first one to hold your hand through the transaction, preferably someone who owns a ton of real estate in the area you want to invest in and even better if they have house hacked themselves so you can use their insight to your advantage. Furthermore, I would also while you are on the hunt for your first house hack and listening to as many biggerpockets podcast as possible, reach out to other investors and learn what they do and what typically is most successful in your market. I have bought three deals off market at great prices, from these people in my market simply because they liked me and wanted to help me due to me being young. Use that to your advantage and get around as much success as possible. Lastly, you will run out of money fast so focus on becoming skillful in whatever niche you chose to start with so that eventually you can help other people build wealth by using their money to buy even more real estate. @David Pere has an awesome group of military guys/gals that will help supercharge your knowledge of how to leverage your military status to millionaire status. 

Don't hesitate to reach out to me if you have any questions always happy to help, with nothing to sell.

Jabbar

Dan is the man!! Thank you for everything you do! You’ve really been a huge role in my wealth building journey!! 

@Mike Hern

Hey Mike you should also add 1-4 STRs

@Kyle Marcrum

RUN AWAY NO DEALS HERE haha bought Oct. 2021 pretty happy so far

@Jabbar Adesada

Also get a credit card like ASAP, someone in your family with good credit will have to help you with that if you don’t have one already, but you need a secured credit card. Look up on YouTube Graham Stephan Credit Cards 101.

@Jabbar Adesada

https://www.biggerpockets.com/topics/1004949

@Jose Lopez

Hello Jose, as young people, it is very easy to look at all the things we lack, money, maybe experience, etc. One GREAT advantage we have is time, energy, and our youth! Here is what I would do I would get extremely familiar with real estate, listen to every episode of the rookie podcast and the Biggerpockets real estate podcast, and the money podcast! You will figure out a good direction while attempting to finish them. Read most of the books that they recommend! Biggerpockets has an excellent selection of how to books to help you get started.

Focus on being around real estate investors as much as possible. I would prioritize your relationships more than anything else!

When you talk to people have a clear vision in mind it’s okay if it changes as you get exposed to more and more info, people will gravitate towards that vision and want to help you get there!

After doing all of or some of these things you yourself will figure out which route to take , how to make yourself valuable to a partner etc.

DO YOUR BEST TO TAKE ACTION ASAP I know two 16 year olds who have done 6-8 flips each. It can be done you’ll just have to creativity figure that part out

Also if I could suggest anything go for jobs that will give you skills not just what pays the most. If I could do it over again I’d go for my associates while in high school and do some type of sales or commission based job because sales are such valuable skills!!

I bought my first property in February when I was 19 6 month after I started down this path, and it would have been sooner if I knew at 16 lol. You have no idea how much of an unfair advantage you have, let everybody know you are 16 serious about real estate investing, that is impressive in itself.

@Alicia Marks

THIS BOOK IS AMAZING! And just what every young person needs!

@Lauren Kormylo

@Larry Shaw

The 180 day and 14 day rule are not specified in the actual Fannie Mae guideline, most lenders generalize the Freddie Mac guidelines. Find a lender who is actual familiar with the Fannie Mae guidelines which makes it perfectly acceptable for you to stay there just “a portion” of the year and okay to rent out the rest. Movement Mortgages, Parker Borosky, Brenna and Avery Carl’s The Mortgage Shop, and 10percentdown Jeff Chisum after talking to loan officers I have found to quote/show me the actual guidelines and understand your rights to rent out your property for more than 180 days for short term stays I quickly learned that most people do not read the guidelines for themselves and should at the very least call someone who did…