All Forum Posts by: Raymond Guillotte

@Michael H. Definitely plan on house hacking. Looks like the only way I can afford to get in at the moment(near future). Massachusetts is not a cheap place to start out. I get so jealous browsing some of these discussions and reading the prices in other areas of the country! Thanks for the post!

That's actually the plan I have as of now: to house hack my first couple, build up equity in them and then eventually maybe sell some in order to by a bigger/better producing property or just hold on to them for the long haul. I'm super excited to get started and see where it takes me and what I will learn along the way. As for the debt, yeah it def sucks, but I doubt I would be as driven as I am now. Thank you for the post @Tyler Weaver !

@Jessie Nunley Tell me about it! I did not realize what kind of burden I was placing on myself when I was taking out my school loans, but like I told somebody else on this post, in a way it has led me to where I am now,  getting my personal finances in order, working my *** off, and helped me discover BP. I have only been listening to the BP podcast for about a week and I am hooked! Thank you for the recommendation and goodluck with everything! 

@DJ Richmond Yes. So I did take into account the added commute. I guess my reasoning behind is just how much cheaper it is going to be than the greater Boston area. I actually grew up in New Bedford so I am pretty comfortable with the area know the neighborhoods like the back of my hand, and could possibly rent to people I know. I also would probably house hack with roommates which could possibly make up for the commuting cost. I know a few people who have had great tenants and some people who have had nightmares. This is definitely something I have been thinking about, and really am only considering it hoping it would allow me to get my foot in the door because of how cheap it is.I also wouldn't plan on staying there for more than 2 years. I honestly haven't been looking around for deals too much so I'm sure I might be able to find some deals closer to the Boston area.

@Jessie Nunley It would take at least 8-12 years to pay off my loans. The way I look at is, if I can afford to start investing in real estate (house hacking, eventually building a portfolio) I might as well start now and use the proceeds to help pay off the debt in a shorter amount of time while also building my real estate portfolio.

@Andrew Herrig definitely a house hack. I think that is the only way I could truly afford to get in right now. And I love the idea of someone else paying my mortgage for me! Haha

@Christine Grimley thank you for the post! Congrats on level III (Hopefully!). I have been putting in lots of time with the studies. Luckily my weekend job is not too labor intensive and I get a lot of studying done then. Thank you for your advice. The general consensus seems to be that I should get in as soon as I am able to. The funds are pretty low right now, but maybe I can cut my 12-18 month plan to 6-12 months. Again, thank you for your thoughts and good luck with everything!.

@Daniel Ortiz thank you for posting! It is definitely nice to know there are other people out there in similar situations, especially from the same area as I am sure we will be investing in similar markets at some point in our careers. I will definitely be following your journey and look forward to reading about your successes. Who knows, maybe one day we will use each other as a resources for finding/making deals. Good luck with everything!

Thanks @Account Closed ! Thank you for all of this useful information. I think the main thing right now is coming up with enough capital for a down payment, which I expect to have enough of in the 12-18 mo. range. I'm hoping that maybe by building my credit score within that time period it will allow lenders to look past my DTI. And I plan on using my future real estate investments to help pay off my large student loans that I have now. Again, thank you for your thoughts!

Appreciate the advice @Marcus Lawson . Definitely valid points that I never considered!