Newbie from Pensacola, FL

17 Replies

Hello BP Community!

My name is Scott Meehan. Zero background in real estate other than being a homeowner and owning a rental that was never intended to be a rental (read: not cash flowing). Hope to have that non-performing property gone soon.

Came to BP to learn as much as possible as I’m preparing to retire from my career in the military and start a new career in real estate. I’ve got about another year and a half before I will retire, so I plan to use the time to get a big jump on the education piece of this puzzle and to build up some REI momentum prior to hanging up the uniform. Ultimately, I’d like to do the real estate thing full-time. I’ve got a lot of work to do between now and retirement. Needless to say, I’m very excited.

I think I’m most comfortable with SFR and MFR at this point, but plan to keep an open mind as I learn about all the other niches and exit strategies (Yep, I’ve already read the free BP Ultimate Beginner’s Guide to REI which was phenomenal.) I very much look forward to learning as much as I can here. Last, I hope to someday be a resource to others in this community...there are already so many great examples to follow

Sincerely,

Scott

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@Scott Meehan

Welcome. Thanks for your service. A buddy just closed 242 units while deployed.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having 60 past ones to catch up on.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

You might consider Niche or Specialized Housing like student housing or vacation housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Good luck

Paul

Welcome to BiggerPockets @Scott Meehan . Thanks for taking the time to introduce yourself. Thanks for your service as well!

I like that you've identified what you're comfortable with to start. I suggest sticking with that til you have it down and then branch off to different niches if you feel like it. That's what I'm doing! I've heard too many stories of people chasing different strategies and never getting started.

Thanks for your service Scott I'm prior military as well. Good to think about your life after your service.

Paul could you explain a little about controlling a property without owning it?

Thanks

Account Closed Thanks for the information Paul! I'm a huge fan of non-fiction books that actually teach you something you can use -- very valuable and much appreciated.

@Scott Meehan wanted to say welcome to BP and even more importantly welcome to the world of RE Investing. I too am currently in the military and I too will be exiting in.. 1yr 1/2.. can not wait. Big piece of advice brother, look into a local REI club. You have a great one there in Pensacola that meets once a month. You can look them up on MEETUP.com They go by the name Proud Capitalist PIG (Pensacola Investor's Group) Great people with a passion for training, teaching, and instructing. Hope this helps, and maybe we can grab a beer down at the Sevile Plaza (I think that's how its spelled) when I get back from this deployment. God bless brother, keep seeking, you will find it :)

@Edwin E. First, thanks for what you do. I hope the deployment is going well and moreover, hope that you return home safely as soon as possible. Thanks for the gouge on the REI clubs, I am real excited to check them out. Last, I'd love to grab a beer downtown - let's keep in touch and make it happen when you return!

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@Scott Meehan

Welcome to BP community! It is a great place to meet new friends and learn about various aspects of real estate and more. Here are a few recommendations for you:

Find and connect with other BP members that are in your area http://www.biggerpockets.com/meet

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Wishing you the best!

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