All Forum Posts by: Jeff Byrne

@Brent Crosby I have a question for you in that regard. Is it wise to invest in a property that right now is 2 hours away but you will be moving to said city this time next year? Or should I wait it out? 

@Brent Crosby I love the idea of house hacking a fourplex, triplex, or a duplex. Ultimately my first house will be one of those, but I'm not willing to buy one just to say I own x amount of units. I want the right deal, something that will cash flow. I know that as of now family/girlfriend doesn't understand it but when the cash flow really kicks in they'll want a piece of the pie. 

As someone four weeks away from graduating I would have to say that it depends on the major and what you plan on doing with it. As with anything you must look at the ROI and treat school as an investment. Those that pursue degrees with little to no upside fight an uphill battle while those who major in subject matter that can provide upside. Personally I will always encourage furthering education/career readiness, especially when pursuing financial education majors.

@Robert Arquilla They are paying off student loans, however they only pay off publicly held loans backed by the government. I have those as well as private loans which is why RE is something that is very appealing to me. @Larry Alexander I need to run a report to show them. You  can't argue with numbers!

@Shiloh Lundahl I see where you are coming from. I have learned to be very discrete when discussing financials with family as it is. I love my family, however I believe that at a young age I have a goal to head down a path created by myself. Most families do not see that, they see it as a risk, which it is. And while yes it is a risk, I'd much rather bet on myself to find a great deal/buy that will pay off than put money into a stock market where no one has a clue what will happen. 

@Robert Arquilla I am in the Army National Guard. But I totally agree with you. My issue is that I do have student debt, however I see this as an investment that will help me get out of debt sooner rather than later. My family sees me buying $10-$20 books on real estate as a waste of time, however if I spent that same money on clothes, eating out, etc it would be okay. As it stands I am working and paying down my debt while saving, I know, not the status quo of how to pay off debt, however I believe that once I can make my first buy I'll be much better off down the road. 

There are too many people to really reach out to and thank in this forum. This just reassures that I am heading down the correct path. I truly appreciate all of your opinions and thoughts. Just for reference no one in my family is what I would refer to as "financially independent". I have a goal of working for myself and being able to retire comfortably and not have to work a job unless I absolutely want to. I believe that by doing this myself I can show my family the positives. Again, thank you all. I knew this would be the place to get the support and information that I was seeking. 

Pitching the idea is definitely something I’ve truly worked on. I haven’t gone talking about it to them cold however they do see it as a “get rich quick” scheme. I know that is far from the case and am simply looking at great opportunities. I do know that if I wait to pay off student loans, RE prices will only go up. Personally I feel now is the time to get in the market. Thank you @Jason Holt I appreciate that. I have been hit with the same statements, telling me to wait, however I know the barriers to entry are not what they were in the past. Personally being young I believe this is the time to get in however family does not always see it this way. 

@Jason Holt I’ll keep you updated. In my situation I leave for basic training in about 60 days, so I’m still using this time to save/learn so when I get back I can buy, move in, and manage my property. Good luck to you as well. If you have anything you know of or experiences you’ve had please feel free to share. 

So recently I've been incredibly excited about this new journey of REI. I've been looking at properties in the Indianapolis/Louisville markets and have found some places I'm interested in. No one in my family has any experience in REI and quite frankly have been very discouraging in their remarks about my goals. I'd love to start in a duplex/triplex/fourplex using house hacking, however when I tell family that I get looks like I'm crazy. Any hints/facts I can give family that would help them see the upside that is REI? Thanks!