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All Forum Posts by: Philip Romano

Philip Romano has started 2 posts and replied 3 times.

Post: House Hacking a 5+unit property

Philip RomanoPosted
  • New to Real Estate
  • San Diego, CA
  • Posts 3
  • Votes 1

Hey so I have a question and I’ve been trying to do research on it but I haven’t had any luck finding answers thus far...

So can anybody help me find out if there are any owner occupying laws/rules when it comes to using an asset based loan to purchase a small apartment building where I would live in one of the units? Appreciate it!

Post: What should be my next step?

Philip RomanoPosted
  • New to Real Estate
  • San Diego, CA
  • Posts 3
  • Votes 1

Hey BP family happy to be here! My name is Phil Romano I'm from Long Island, NY, though everyday I'm thinking about relocating, and I'm looking for some guidance in 2020. A little background information, I'm 23 years old. I graduated from Iona College a year ago with a degree in business management. I knew I wanted to build wealth but I did not know what I wanted to do in life so I took a job that I grew to hate and it made me not only hate the job but hate life so for my mental health I ended up quitting and then searching for other jobs for a while. I knew unless it was something I was truly passionate about that could give me the freedom in life I craved I would never truly be happy and of course my family did not understand this because they have the old school mindset all they've ever known is roll up your sleeves work hard and hopefully you make enough where you don't live paycheck to paycheck and hopefully you put something away so you don't have to work until you die(or until work kills you) . Safe to say growing up I told myself I would never live that way but instead I would build wealth and not have to work a miserable job for the next 40 years or longer of my life and I feel extremely passionately about this. Following a big mindset shift I discovered Robert Kiyosaki, Bigger Pockets, Brandon Turner, David Greene, Grant Cardone, Kris Krohn and the list goes on and on I couldn't stop reading or watching their informative videos all day every day for months being unemployed that's what I did while also working a seasonal job on my girlfriends fathers food truck for some income learning everything I could about investing in real estate and the secrets of the wealthy knowing that this was it this was the thing that was going to be my vehicle building wealth and financial freedom! I started to attend different meetings and 3 day workshops until I found Than Merrill's Fortune Builders and I fell in love with the people there and ended up actually borrowing money in order to join their (most affordable) program because I saw a real opportunity to grow and it gave me access to their Realeflow office system. I decided to get my real estate license as well and just recently 2 weeks ago passed the NYS exam! I've been talking to a few different brokers and they all love me and want me to come on board but I'm not sure what to do next that's where I could use some help. I only wanted to get licensed to help aid me in starting/growing my REI business that's nonexistent as of right now besides the investment in Fortune Builders, so I'm in a pickle because I don't have much capital to my name and I don't have a job and though I know plenty of people in my same position got started investing using creative financing or partners I just feel a little lost right now on what to do next. I've learned so much in so many different niches of Real Estate I'm confident I would kill it no matter what but for some reason I have a mental block. I would love to find a broker who is an investor and who deals with mostly investors that I could be an agent to as well as a mentor to me on the investing side. I also live at home with my mother but am looking to move out and get into a house hack ASAP but I don't really want to stay in NY I was even thinking about applying to work at BiggerPockets and move to Colorado. My girlfriends brother even just moved outside of Denver and loves it and my girlfriend wants to also. My real goal in life is to get into multifamily syndications. What are the next steps I should be taking to achieve my goals? Any advice at all would be appreciated. Thank you!!

Post: Quitting Job to Pursue Real Estate: Documenting my Journey

Philip RomanoPosted
  • New to Real Estate
  • San Diego, CA
  • Posts 3
  • Votes 1

@John Oh hey John would love to hear more about this. I’m 23 and left my job earlier this year because I was miserable and realized that I don’t do well with a traditional job or career because I have the entrepreneurial mindset and always have. I quit my job shortly after graduating from college and a few months after quitting and no luck finding a different job or career path that I felt passionate about pursing, I discovered real estate investing. The last 6 months I’ve spent all my time energy and what capital I have on investing in myself and learning as much as I possibly can about the business. Financial freedom at our age isn’t something a lot of older investors understand and that’s okay because we’re just ahead of the game and ahead of the curve in these changing times. Keep doing what you’re doing you’re an inspiration!