Getting started (feels like we're at the top of the roller coaster)!

We're at the top of the roller coaster...right before the drop that is!  At least that how it feels!

We have been studying the ropes of real estate investing (REI) for over a year now.  I have read numerous books, listened to podcasts, read blogs and articles (so many), sat through webinars, etc and i think we are on the brink of finally pulling the trigger on our first deal.

I set a New Year's resolution to buy our first property before 2017, and i think it might happen (so long as everything works that is...I don't want to force it just to make myself feel better).  It was a dinky little goal when i wrote it down almost a year ago, but it is really helping me keep the ball rolling to make it a reality.

I am analyzing deals now and i have a couple i plan on touring and subsequently making offers on.  My wife Jen and I met with a local realtor/investor and i am getting them on our team.  I have a meeting set up with a mortgage lender in the next couple weeks to talk money.  I have capital in place to even pay cash if needed with a plan to refinance later.

A little about our strategy. In the immediate future, we are planning a plain vanilla strategy of purchasing single family homes, fixing them up and renting them out for cash flow, appreciation and tax benefits (I'm told there are several to be had here).  Not banking on appreciation, but if it happens, it happens!  Later we will refinance out and repeat (Any BRRRR fans here?)

We are in the middle of trying to figure out the best type of entity to set up for our business now to get us great tax benefits and liability protection.  I'm guessing LLC, but we are consulting a CPA and attorney to get this advice.  We decided it was best to get this going at the beginning.

Up to now everything has been talk, planning and very much 'on paper' but now that we are talking to people and making moves, we get that feeling like we are about to go over the hill on a roller coaster.  I really hope the REI ride is just as exhilarating!

Anyway, this is our first post and we just wanted to start tracking our progress as we move forward.  More to come (soon hopefully)!