New to BP and real estate: Introduction

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New to BP and real estate: Introduction

Corey Martin
Staunton, VA · Member since 2019 · 29 posts · 15 votes

Hello everyone, I'm Corey from Spotsylvania, VA. I am new to BP and real estate. My long term goal is to replace my W2 income with investment income from multiple sources. In regards to real estate, I aim at primarily investing in buy and hold, but I am not entirely sure where I'll end up and what I'll actually prefer.

Real estate background: The only experience I have inside real estate is owning my own home. I bought my first right out of the military in 2013. After about 5 years, I sold it and bought my current home.

Work experience: My profession is hands on and technical, so I guess I can claim that as a personal characteristic. As far as home repair experience goes, it’s all YouTube and asking around for me. I don’t have a background in home construction/repair, but I love learning and trying projects myself.

I hope to create lasting relationships through BP with experienced (or not experienced! I like friends!) and wonderful people. By January 1, 2020 I would like to finish my first deal.

Thank you in advance to all who will contribute to my future!

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Jorge A Amaya
New to Real Estate · Aurora, CO · Member since 2018 · 14 posts · 7 votes
7y

@Corey Martin Like Danielle says, there is a ton of information and people willing to help in these forums. I am from Denver and feel @Danielle Wolter pain about not finding cash flowing properties. I have a few properties as well and let me know if I can be of some help. Do not get discouraged and keep on trucking!

@Danielle Wolter Do you mind sharing details on your Memphis deal? I am also looking to possibly buy some properties in Memphis/Kansas/New Mexico but the biggest challenge I see is getting a good property manager as I will be investing out of state as well. Do you have any advice? You can DM me if that works better for ya! Thanks!

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  • Danielle Wolter
    Rental Property Investor · San Diego, CA · Member since 2019 · 290 posts · 254 votes
    7y

    Welcome @Corey Martin! There is a wealth of information in these forums. I'm a newer investor as well and this has been a great place to learn and connect with others. Good luck in your journey!

    3Reply
  • Corey Martin
    OP
    Staunton, VA · Member since 2019 · 29 posts · 15 votes
    7y

    @Danielle Wolter

    Thank you Danielle! Good luck to you, as well!

    0Reply
  • Corey Martin
    OP
    Staunton, VA · Member since 2019 · 29 posts · 15 votes
    7y

    @Danielle Wolter

    By the way... how’s the market in San Diego? How has your experience with real estate been so far?

    0Reply
  • Danielle Wolter
    Rental Property Investor · San Diego, CA · Member since 2019 · 290 posts · 254 votes
    7y

    @Corey Martin I own a couple properties here in San Diego, but it's almost impossible to have positive cash flow anymore. One of mine I bought years ago, so I'm positive, but my other one has negative cash flow. I'm actually working on buying OOS right now, looking to purchase my first investment property in Memphis soon. It's just gotten too expensive here!

    3Reply
  • Jorge A Amaya
    New to Real Estate · Aurora, CO · Member since 2018 · 14 posts · 7 votes
    7y

    @Corey Martin Like Danielle says, there is a ton of information and people willing to help in these forums. I am from Denver and feel @Danielle Wolter pain about not finding cash flowing properties. I have a few properties as well and let me know if I can be of some help. Do not get discouraged and keep on trucking!

    @Danielle Wolter Do you mind sharing details on your Memphis deal? I am also looking to possibly buy some properties in Memphis/Kansas/New Mexico but the biggest challenge I see is getting a good property manager as I will be investing out of state as well. Do you have any advice? You can DM me if that works better for ya! Thanks!

    3Reply
  • Corey Martin
    OP
    Staunton, VA · Member since 2019 · 29 posts · 15 votes
    7y

    @Danielle Wolter

    I feel like I could ask a million questions on your properties, what your OOS plan/goals look like, and and what you’ve learned so far. Would you mind sharing in reply or DM? If not, I completely understand, no worries.

    0Reply
  • Corey Martin
    OP
    Staunton, VA · Member since 2019 · 29 posts · 15 votes
    7y

    @Jorge A Amaya

    Thank you very much for the kind words! I’m pretty much in the same thoughts with you as I am with Danielle. Can I pick your brain about your properties, what you feel you did right/wrong, how you started with the accidental landlord property, and how you think you’ll move forward? And, of course I understand if you are uncomfortable sharing. Feel free to DM me and thanks again for the encouragement!

    0Reply
  • Corey LoutonPro Member
    Investor · Pittsburgh, PA · Member since 2017 · 25 posts · 21 votes
    7y

    @Corey Martin welcome to BP and your new journey in life! I am located in Fredericksburg just right up the road from you. Stick to it, read everything you can get your hands on, and listen to as many podcasts as you can that apply to your investment strategy. Good luck and reach out if you need anything.

    Corey

    3Reply
  • Corey Martin
    OP
    Staunton, VA · Member since 2019 · 29 posts · 15 votes
    7y

    @Corey Louton

    Thank you and what a great way to put it!  It's very exciting to have someone local I can connect with.  I would love to buy you coffee/lunch/dinner some time to gain some insight if you have the time.  I will definitely be in touch!

    Thanks again!

    0Reply
  • Gilbreth Seno
    Annapolis, MD · Member since 2016 · 22 posts · 3 votes
    7y

    @Corey Martin

    I'm new to REI as well. I live in King George. Might be worth while to connect and build a local network.

    1Reply
  • Cassandra Sifford
    Rental Property Investor · New Castle, DE · Member since 2016 · 376 posts · 158 votes
    7y

    @Corey Martin Welcome to the community! This site has helped me tremendously! So much so that I felt confident enough in the education I gained to purchase my 1st of many properties this past October. My tenant moved in May 1st and it cash flows well!!! Watch the podcasts, ask questions, pick up some of these good reads everyone talks about and be open minded to the avenues of success. The properties will soon come!

    Well wishes ... Cassandra

    0Reply
  • Danielle Wolter
    Rental Property Investor · San Diego, CA · Member since 2019 · 290 posts · 254 votes
    7y

    @Corey Martin I sent you a message. I'd love to discuss my plans/strategies!

    0Reply
  • Grace Johnson
    Rental Property Investor · Memphis, CA · Member since 2019 · 8 posts · 4 votes
    7y

    @Corey Martin

    Hi Corey, I'm a new investor as well. Welcome! I live in Los Angeles, and recently purchased my first fix and flip in Florida. We are currently in the process of rehabbing and anxious in getting it done soon to put on the market. It is truly a learning experience and hopeful that it gets easier. I found BiggerPockets to be a great source for tools and information. Wishing the best and success for you!

    0Reply
  • Christa Burket
    Rental Property Investor · Canandaigua, NY · Member since 2016 · 13 posts · 12 votes
    7y

    @Corey Martin

    Welcome to Bigger Pockets, Corey! I am newer to BP as well. My husband has been studying and investing in real estate the past four years so I learned some through him but in the past few weeks started my own journey of learning so I can assist him better. We have two rental properties (4 units between them) and flipped two homes in the past year so I am familiar with the renovation process at least! :) From my limited experience, REI is a lot of fun and definitely a good path to get going. Wish you the best in this coming year! :D

    1Reply
  • Corey Martin
    OP
    Staunton, VA · Member since 2019 · 29 posts · 15 votes
    7y

    @Gilbreth Seno

    Yes sir, I agree! Look forward to connecting with you.

    0Reply
  • Corey Martin
    OP
    Staunton, VA · Member since 2019 · 29 posts · 15 votes
    7y

    @Cassandra Sifford

    Congratulations on your first property and thank you for the warm welcome!  I'm soaking up whatever I can, and the podcasts are a huge part of it.  Thank you for the wise advice!

    1Reply
  • Corey Martin
    OP
    Staunton, VA · Member since 2019 · 29 posts · 15 votes
    7y

    @Grace Johnson

    What a huge distance for a flip!  I'm excited for you!  Hope everything goes well.  Please, if you wouldn't mind, keep me posted.  I would love to learn how you're handling the process throughout.  Thank you!

    0Reply
  • Corey Martin
    OP
    Staunton, VA · Member since 2019 · 29 posts · 15 votes
    7y

    @Christa Burket

    That's awesome, glad to hear you're still positive after two flips.  That gives me hope!  Would you mind if I quized you and your husband on your process?  Like: Self/hired renovation, how you acquired the deals, either of you a real estate agent, and so on?  Thank you for your time!

    0Reply
  • Corey Martin
    OP
    Staunton, VA · Member since 2019 · 29 posts · 15 votes
    7y

    @Cassandra Sifford

    Also, I'm very interested in hearing about how you went about acquiring your first property.  The buy and hold strategy is one I'm really drawn to.  I appreciate any info, Thank you!!

    0Reply
  • Cole Raiford
    Rental Property Investor · Gulfport, MS · Member since 2018 · 113 posts · 133 votes
    7y

    @Corey Martin welcome, and thank you for your service!

    0Reply
  • Corey Martin
    OP
    Staunton, VA · Member since 2019 · 29 posts · 15 votes
    7y

    @Cole Raiford

    Thank you Cole!

    0Reply
  • Jessica GarciaPro Member
    Rental Property Investor · Los Angeles, CA · Member since 2019 · 3 posts · 0 votes
    7y

    @Grace Johnson

    Hello Grace,

    Where in Florida did you buy your property? Can you provide details about the property? You can DM me if it works best. I live in LA too and want to invest in Florida or/and Detroit but dont have any boots on the ground.

    0Reply
  • Cassandra Sifford
    Rental Property Investor · New Castle, DE · Member since 2016 · 376 posts · 158 votes
    7y

    @Corey Martin  You're very welcome!  I don't even know how I managed to stumble upon the site, but I know if I hadn't I wouldn't be where I'm at today.  Thank you @Joshua D. and @Brandon Turner and everyone who works in the background for putting such a platform together and keeping it going so we can all prosper!

    0Reply
  • Andres Bejarano
    Contractor · Laguna Hills, CA · Member since 2019 · 5 posts · 1 vote
    7y

    @Grace Johnson Wow!! That's impressive. If you want to share more of how you doing a flip from LA in Florida will be awesome, I'm also new in BP community. Thanks for sharing your knowledge.

    @Corey Martin Welcome, keep reading and listening to podcast !!

    1Reply
  • Alex Billips
    Rental Property Investor · Charleston, SC · Member since 2018 · 14 posts · 3 votes
    7y

    @Danielle Wolter

    Have you tried to rent on AirBnb. Instead of just standard monthly rental?

    0Reply
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