All Forum Posts by: Jeremy Godwin

hello, I am relatively new to investing but I have lived in DFW area my entire life and I will say that generally I stay away from places like south Dallas and most of Mesquite because of the crime rate, me personally I hate traffic with only one major highway leading in or out so I also don't care for Arlington. When I am looking for a property I like to see whats being built in the area, school district and hospitals then ill search for properties from the area I like and expand the area by about 5-10miles. For example Frisco is an up coming great area and I just bought a house in McKinney at a great price.

A little bit about me first, I am 24 years old married with 1 child and I love finance and managing money my mom is a realtor and broker and she was my inspiration partly to get into real estate. I followed Dave Ramsey Before I found Robert kiyosaki so I got completely out of debt and learned how to manage my money before I started reading about leveraging my money.

All that being said I am currently living in Mckinney Tx, I have a house I just purchased with a VA loan, I am a paramedic and, make enough money for me and my family to live comfortably on my salary alone, My wife makes about 34k per year and we are able to save all of that. we just finished saving our first 30k so my plan is to use that as my bank reserves then every 1-2 years from now on buy a house with a 20% or more down payment each time. from what I have seen any rental property within 30 miles of Dallas rents out for about 400-600 per room, example a 3 bedroom house always gets close to 1500$ monthly. I figure if I can put enough money down on a property to keep my mortgage and taxes under 1000$ I can make a 400-600$ profit on each house I buy.

my goal is financial independence and Ideally cash flow of about 4,500 would be more than enough. So the benefit I have with my mom as a realtor and broker is that I can use her as a property manager and I get to use the MLS system to find deals. I feel like I am just being a dreamer and need to be smacked back into reality so by all means help me but with my current plan if it works out I should be able to technically retire by 35ish.

Thank you guys for the responses i will definitely look into (NTAREI) and the BP podcasts,I am very serious about this my Dad is 63 and still working and I know that is not what I want for my self I was following Dave Ramsey but 401k saving is so slow for me and when I read rich dad poor dad it blew my mind.  So far I love this website and the community.

24 years old interested in rental properties and learning about real estate, I am currently in the medical field as a paramedic. I only have 1 house currently that I have a mortgage on and since my family lives comfortable on just my salary we are able to save every dime my wife brings in which is about 34k per year so my plan is to learn the game and buy a house every year or every other year from now on. any book recommendations or sources of knowledge are appreciated. 

Thanks,

Jeremy