Ben Kevan

50 influence

California

Living and Learning. Once one ends, the other follows. (about 1 year ago)

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IM:
Profiles:

I am a very driven person, that strives to know the most in everything I attempt. I never go into anything to fail, and will surround myself in the required knowledge to succeed. I have a trained in Wrestling, Jiu-Jitsu and Mixed Martial Arts (amateur level).

I live in Northern California, and have a primary source of income doing something that I've grown to love, with a company that has treated me well.

I hope to utilize Real Estate Investing to help diversify my long term retirement strategy, and if I fall in love (like I have so far), then I hope to utilize is for a stream of secondary income (funding new deals, as I would keep my primary job).

California doesn't have the returns I'm currently looking for with a buy and hold property, nor do I have the current capital for 20% down which banks are requiring.

I plan to hold a property in my living area (4 plex+ would be great), but right now I am looking out of state and utilizing local property managements and contractors to support me in my ventures.

I currently work in the IT Industry as a Sr. Systems Administrator supporting Virtualization technologies and Linux (and various applications surrounding Linux). It's a field that I got into on a whim and without any training, and have fallen in love (which is strange, since out side of work, I don't care about computers in the sense as I would at work).

Experience

I first considered Real Estate Investing after the purchase of my primary residence in California. Strangely enough, it wasn't the moving into the property that made me happy, it was the hunt that made it exciting (I should have been Indiana Jones's Sidekick).

After that, I've networked with many people in many different areas of Real Estate, and have finally put in an offer on my first Duplex in the rust belt (offer was put in today on Dec 9th 2010).

I'm hoping the research I've done will help my first deal thrive, and not flop like it does for many others.

** Update March 03 2011
I closed on my first property (Buy and Hold Rental) on March 01 2011. I am ecstatic to have closed, and am looking towards my second deal.

** Update April 28 2011
I am closing and recording on my second property on April 29th 2011. I'm quite excited to have closed 2 deals in 2 months. However, with my funds being sapped, I think it's time to start looking at new methods of financing.

Real Estate Goals

My initial intent for Real Estate Investing is to utilize it as a long term diversification for my retirement plans. This is the goal as it pertains to today, Dec 9th 2010.

I have committed to putting a couple hundred bucks a month towards new ventures in Real Estate Investing, and hope that I have good net positive cash flows, in the deals I do make, to fund bigger and better cash flowing properties.

I'm hoping to be the landlord that all tenants want, without being taken advantage of, of course. I want to be honest, respectful and helpful.

I hope to own about 6 cash flowing properties with at least 2 doors each. I would like them to be in 3 different markets for the sake of diversification of housing markets.