New with some single family experience in NW Arkansas
Hi, I just joined BP after listening to podcasts during a 12-hour drive back from Florida this weekend. I enjoyed them so much, I would have been OK with an even longer drive.
For a little background, I bought my first investment property 12 years ago using Subject-To. Although finding the property was a ton of work, the actual deal ended up being a win/win/win for all parties involved, and it was a nice profit for my efforts.
About six years ago I started buying single-family homes as buy-and-hold investments. I didn't get any of the staggering deals that that I was hearing about in the podcasts, but all have had a nice cash flow. The first three were differing levels of distress property (HUD, etc.), and the last was a retail purchase; I have four in total and just made an offer on number five.
My long term goal is to develop enough passive income from rentals to replace my income. At that point, I would love to finish my Masters degree and start doing some online teaching. We would also love to be able to travel more than we can right now, but even so we do a fair amount. I think the next step on the journey involves a move into multi-family property, but I'm not quite ready to take that step.
I've had some interesting experiences thus far and will share some of them here on the forum as time permits.
Kent