All Forum Posts by: Mike Quealy

Thanks for the warm welcomes everybody! I am getting a lot of great information and really feel I have a lot of tools to help me be successful. I look forward to connecting with you all and sharing my experiences along the way. 

My short term goal is to buy a third property, type of property TBD. I have some questions about financing the deal.

I currently have two properties; A single family (primary) and a townhouse that generates rental income. Conventional financing seems to be the recommended approach to financing a property—especially if you have a 9-5 job. In my limited experience however, it’s my understanding I will need to be able to show that I have a certain amount of cash reserves set aside to maintain my current properties in order to get bank approval. Is this a correct assessment? 

Thanks for reaching out and connecting, James!

I'll certainly be in touch and look forward to future discussions. I agree that goal setting and creating deadlines for those goals is a great strategy.

Hi everyone

I'm new to BP and would like to introduce myself. 

A bit about me: 

After two tours of combat service in Iraq, I was honorably discharged from the Army in 2007. From there, I worked for NBC in Boston as a Broadcast Engineer up until 2012. Since 2012, I've been working for the National Football League. It's a great company to work for. Time consuming, but a lot of fun. 

My wife and I own two properties, a town house which we receive rental income from, and a single family which is our primary residence. Both homes are a few miles west of Philadelphia. 

There are many reasons I believe I was drawn to RE. I enjoy being a landlord and I really enjoy working on homes. I could definitely see myself investing and devoting myself to RE full time in the future. 

I enjoy listening to BP podcasts during my work commute. The past few days I've been glued to my laptop reading some really interesting stuff here in the forums. There are some really smart men and women on here. I'm grateful to have found such a valuable resource!

I'm not entirely sure which area of RE investing is most appealing to me. I will say that I am very excited to acquire a third property soon--I'm just not sure how I'll go about it!

The number one takeaway thus far is education. I'll find a mentor and continue to hit the books and educate myself. 

Thanks for taking the time to read my post. I look forward to networking with you all.

-M