All Forum Posts by: Syman Hay

thanks for the responses! My ultimate goal is to have a portfolio of multifamily properties. I would be only flipping to create the capital to move towards that goal.

What would be the best way to start investing in real estate being new to the country low credit and no assets?

Would flipping be the best option to start?

New jersey

Pennsylvania

Thank you so much for your responses guys! @Engelo Rumora I would love to connect with a fello Aussie and would love to hear about your story of coming to America!  

Hi, I need opinions on buying our first house. My wife and I are currently renting, both have full time jobs with a pretty good joint salary. The thing is I am from Australia and have only been legally in the country for 18 months. I had great credit back in Australia but here it's pretty average as it's only a few months old. My job is currently a salary but in another six months it will go to commission. We spoke with a mortgage broker at my real estate brokerage ( I have my real estate license in referral) and the underwriter told us that I wouldn't qualify even for an FHA. My ultimate goal is to eventually acquire some buy and hold investment properties ( mostly multi families) so getting into this first house is only to save on rent and hopefully flip it over a 3 year period before we will be moving. I have thought about seller financing but am unsure of where to start. Has anyone had a similar start that can shed light on our situation or offer some guidance?

I'll first give a short story on how I actually got to be living in the garden State of New Jersey! 

I came to America on vacation and travelledaround the USA for four weeks with a mate from Australia starting in San francisco and ending in New York city. There were a lot of stories rom the trip that I will share in the future, anyway when we got to New York we decided to experienc an American football game and see what all the hype was about since we only knew about real football back in Aus ( Rugby ). The game was the NY Giants VS The Philladelphia Eagles, We decided to buy Giants supporter apparel since the majority of fans at Metlife stadium were Giants fans! after tailgating for the first time and having a ball we were leaving the game and heading into NYC when we met a group of American girls at the train station leaving the game. we got talking and I took a liking to one particular girl ( my now wife ). After leaving the USA I kept in touch with my new friend in the US and  conviced her to meet up with me the next year in Europe ( Paris to be exact ) which she went against her better judgement and did! we met up in Paris and continued travelling around Europe together. My friend had told her parents she would be doing this with a friend from college to convince them to let her go.

When we had come to the end of our European adventure my friend convinced me to come back to America and meet her parents ( Gulp ). She left for the US and three days later I showed up. Cutting the story short we did the long distance thing for about six months when I decided to make the move to the US. 

After the headache of getting a green card and moving to another country. We got married and had a baby in the first Eighteen months of living in the USA ( Talk about stressful ). Thats what brought me to Real Estate and providing the life I want for my young wife and son. I decided to get my Real Estate licence in New Jersey and try my hand at being a Real Estate Agent... Well I can say as much as I loved the education on Real Estate I Hated being an Agent! While doing this I was reading a little book called RICH DAD POOR DAD recommeded by my mate I had originally came to the US with. I did not feel comfortable advising people to put there hard earned money into a house that they hoped would appreciate in value ( Which I am sure some of them wouldnt mind as long as they have a home to live in ) but after realizing that a house wasnt an asset but a liabilty I had a hard time sellig this to people.  So I looked at Real Estate Investing instead....... Bring in Bigger Pockets! 

After finding this site I have fully committed to the Investment side of Real Estate and am pursuing my Dreams of being a full time Investor! I have a background in Mining and construction so I am a very hands on type of guy, not scared of hard work. I work for a large fortune 500 company in the health industry as a salesman so I travel around the state often. 

I have worked hard to get where I am now. I still have my Real Estate license ( tho in referal ) but still have access to the NJ MLS.

Any help or positive advice ( NO NEGATIVITY HERE ) would be most appreciated!

Thankful to be a part of this great community!

Syman hay