Go Getter

Document created by markitar on Nov 16, 2015Last modified by amara.mastronardi@socialedgeconsulting.com on Dec 5, 2016
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When I had my daughter back when I was nineteen I knew I wanted more for her then I had, I wanted to be a role model, and a overall good parent, which is why I set ambitious goals for myself.   Everything that crossed my mind was written down as well we a plan for me to execute my idea. 

 

One of my many ideas was to own my first house by the time I was 25.  To accomplish I signed up for free home buyer seminars to educate myself what I needed to work on, the pros/cons of being a homeowner, and what amount of money needed as a downpayment. Next I ran my credit, which I didn't have any at the time so I applied for a credit card, and financed a car.   I learned from the seminars that for an FHA Loan I would need a 3-5% down payment , money set aside for closing cost and escrow funds.  I calculated how much home I wanted, I came up with $150K , I thought if I could save $10-15K I should be fine.

 

To achieve my goal of saving the funds for my home I had to start budgeting, that meant cutting out most of my wants, which included cable, extra curricular activities, and my biggest downfall shopping.  It was hard at first but it became second nature to me, I worked seasonal jobs to make sure I had enough for my daughter to have a good Christmas. I also signed up for surveys, lots of surveys which paid pretty well.  I paid my bills on time and steered away from any extra monthly debt.

 

Two months after my 25th birthday I found myself at a bank getting preapproved for a home loan, which I was approved for a $160K.  A month later I found my home that I knew was meant for me and my daughter; I put $1500 in escrow funds down and $4500 as a downpayment, the seller paid all my closing cost.  I was left with enough money to shop for my new home.   

 

This was a big accomplishment in my life but it wasn't the only one I received my Associates and Bachelors Degree in 3 1/2 years, while working full-time.  I obtained my Brokers License, rented out several apartments, and sold a couple of houses.  I currently rent my 1st home and am working on buying a 9-unit building.  The moral of this story is when I put my mind to it I go get it and there's nothing out my reach, I have no doubt in my mind and heart that the sky is the limit.

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