Greetings from Durham NC!!

Hello everyone,
My name is Marco Harris II, I am a research scientist/aspiring real estate investor in Durham NC. I currently own 2 properties, one rental and one rehab that I live in and am about half way through renovating at the same time.
In the last 2 years I have discovered a knack and developed a love for renovating. I have torn down and rebuilt my kitchen from floor to ceiling, replaced a load bearing wall with a 26 foot beam, done painting, plumbing, electric, drywall, and tiling. I can honestly say that loved every minute of it! (aside from sanding joint compound that is.)
My goal is to take these newly acquired skills and knack for working with my hands and expand on my rental property portfolio in a way that will allow me to keep turning the money over and buying more income producing property, I would also like to learn about and get into other avenues of investing i.e. flipping, wholesaling, or anything that will produce cash flow in shorter periods of time. I would love to transition from being a scientist to a full time RE investor.
I have begun to pull some cash together and collect information in make another investment and would like some insight on modes and strategies of investing that would allow reach my goals. I live in a college town flanked by college towns and feel like there is great opportunity here to build my rental empire. I would also like to find a mentor and connect with other RE investors especially but not only in the RDU area.
I look forward to networking with you all and can't wait to get this thing moving!!

Edited: 06/26/2010 at 12:36PM

Alex Cortez

Residential Real Estate Agent · Maui, Hawaii

25 posts
1 award
50 influence

Apr 25 '10, 09:18 AM

Marco, welcome to the forum. This is by far the best education you can get about REI (it's a steep learning curve, one of which I am still on the bottom of) but it will prove worthwhile. Best of luck and I look forward to your continued input.

Edited: 06/26/2010 at 12:36PM

Charles Perkins

Landlord · Seattle, Washington

2,986 posts
18 awards
83 influence

Apr 25 '10, 04:57 PM

Welcome Marco. This is a great place to learn and ask questions. There are many on this site that have years of investing experience. There are some newer investors that share their experiences here as way for others to also learn.

Dig and you will find treasure.

Edited: 06/26/2010 at 12:37PM

Jim Wineinger

Real Estate Investor · ten mile, Tennessee

1,501 posts
16 awards
56 influence

Apr 25 '10, 05:22 PM

Marco, tis great what you have learned so far, but not to dampen your enthusiasm, there are a lot of areas (as you grow) that you will not be allowed to do some of those repairs yourself because of licensing issues. So prepare to use others or get those licenses yourself.

Most strategies that you will learn about will include a team of contractors, plumbers, electicians, ect. to due that work which you have grown to love so dearly.

You will also learn that the more things that you do (of those which you love) do not add a lot of value to what you will be able to get in resale value or rental value, so be prepared to curb yourself somewhat in order to proceed to your goal of owning several properties in your RE portfolio.

Edited: 06/26/2010 at 12:37PM

Marco Harris II

Real Estate Investor · Baltimore, Maryland

2 posts
1 award
50 influence

Apr 26 '10, 10:55 AM

Thanks all for the warm welcome!!

Jawestte, Thanks for the perspective. After seeing how time consuming doing much of the work myself is I definately am prepared to put together and use a team of professionals. Especially now that I have actually done some of the work that I will be contracting out and have a better idea of what the work entails and what a good job looks like.

Edited: 06/26/2010 at 12:37PM