New to BiggerPockets and Networking

[Celestine Shalhout]

I came across BiggerPockets on Podcast and have not looked back since. I am a big believer in making passive income and had real estate on the back of my mind, however like everyone else I was not sure how to get started. While working full-time, I decided to get my real estate license in 2021. I thought I could do it part-time but of course I did not do much with my license. My license has expired and since coming across BiggerPockets, it made me miss my interest in real estate. It must be a sign! My goal is to create cash flow and gain financial independence to where I can leave my full-time job. I look forward to learning, taking action and networking on this platform. 

[Nathan Gesner]

Quote from @Celestine Shalhout:

Financial independence and passive income is an idea, not a plan.

This idea of quitting your W-2 and living off rent income isn't as easy as the YouTube gurus make it sound. I recommend you focus on a job that increases income, allowing you to save up and invest. You'll eventually build enough income from rentals that you can quit the W-2, or you can stick with it and keep growing.

Passive income? I don't think those words mean what you think they mean. Ask anyone with investment property and they'll tell you it's not passive.

I earn enough from investments that I could be financially free for life, assuming nothing major happens. I keep working, earning, saving, and investing. 

You got your license and then did very little with it. That's because having a license was an idea, not a plan. Think about what you are attempting to achieve, then put it down on paper. A plan needs concrete numbers and realistic action steps. Instead of, "I want to be financially free," you will say, "I want to earn $100,000 annually from my real estate investments." Then work yourself backwards to see what it takes to get there. If each home cash flows $200 a month, you'll need 42 houses to meet your goal. What will it take to buy a home that cash flows $200 a month? How many can you buy in a year? How many years will it take? How will you manage them while trying to be "passive" and sitting on a beach sipping Pina Coladas?