All Forum Posts by: Thant Thurane

Hi all

My name is Thurane and I am very new to biggerpockets. Ive decided to start my real estate journey this year! and Ive been doing extensive research on a good strategy for my first investment.

I have been doing extensive research on a lot of materials here and blogs & articles to be well knowledgeable about real estate investing and strategies before purchasing my first property later this year. 

I am considering either doing BRRR strategy (or) turnkey (or) flipping as my first investment strategy. So here is my back story and my current situation:

I am actually residing in New York, living in Great Neck Long Island. I own a business back in my country Myanmar (Asia), but I have been a green card holder for about 10 years now as my parents reside here in NYC.

My credit score is actually below average and quite bad since I havent been working here in NY. So my plan is I have a friend who is working here in New Jersey and has a great credit score of 750+. (He is working here on a OPT visa)

So we decided to partnered up and go 50/50 for our real estate investing career/business.

Basically, for financing, he will be using his credit score to get a loan approval from our mortagage broker whilst I will be bringing about a cash investment about $80,000-$100,000 to start things off.

We were first intially thinking of doing BRRR but a real estate mentor of his discouraged us by noting that our initial capital amount is far too low to start this investing business.

For our first real estate property, we are looking in the New Jersey Area as my friend lives there. So he can manage the property closely and also New york area is far too expensive for our budget, which is $500,000.

So we either invest in one property of $350,000 - $500,000 (OR) two properties of $250,000 each. Still deciding.

So far we have both contacted a mortgage broker in long island and have an appointment with him to see how much loan we can be pre-approved for our investment. And we are really picking our brains to see whether BRRRR, flipping (or) turnkeys are best to start off with.

I was hoping first if the biggerpockets community could shed some light on our situation. Perhaps point us in the most feasible direction for our situation. Again we have no experience whatsoever but we do have contacts with veteran investors who has been in the real estate investing business for about 10+ years. 

Thank you all for the warm welcome! Right now, I am interested in doing some buy & hold properties, investing and renting some out and house flipping. I will browse the education section and see what I can learn from there :).

If anyone has any advice to which field I should tackle first regarding my current situation, I welcome any advise I can get :)

Hi, my name is Thant Thurane and I am 26 years old. I was born and raised in Myanmar but graduated from Boston University with an Economics Degree in 2012. 

I am currently running my own start-up promotional item business with my brother back in Myanmar which we started back in January of this year and so far the business is slowly growing. 

I am Permanent Resident here and have lived in Great Neck New York with my family here for a couple of years in total as Ive been travelling back and forth from my country and the states.

I would like to get started in Real Estate Investing! I have no experience whats so ever, doing real estate (or) home buying here in the states. 

I would like to be financially independent and become a part-time real estate investor in the states! In the long term, I would like to have several homes that I rent out while doing a flip here and there in the US while handling my business in my own country. 

In terms of start-up capital for investment, I can borrow about $100,000-$200,000 in cash from my family business to get a good start. 

I welcome any advise that I can get from my current situation and I am interested in meeting like-minded individual! :D