Hello BP Community! I have been cruising the site for a couple months now and have finally taken the plunge into investing. About this time last year my brother told me to read Rich Dad, Poor Dad but as many of you probably noticed... it really doesn't tell you a whole lot, however; it did motivate me to research a little more.
Searching for the knowledge Rich Dad didn't expand on, I stumbled across Biggerpockets where I fell in love with the blogs and the real world application versus the guru talk. I have slowly been educating myself, saving up, and practicing numbers until now. Just over two weeks ago I started listening to the podcasts from the beginning and have made it past show 30.
After trying to contact selling agents on my own and getting no where, I met with a commercial buyers agent. We introduced ourselves and discussed our goals which now my plan looks very obtainable.
I have a goal of 44 units within the next six years. Why 44 units? Approximately $50k is the cost of living for a family of four and 44 units is my goal to financial freedom.
But to stop a long story going longer, I cannot wait to be more active in investing and more active here.
Welcome @Samuel Larger
Having clear set goals and a plan in place is a great way to start. You'll get plenty of support here while you start your REI career and I look forward to reading your success stories.
Best of Luck!
Welcome to the site sam.
Welcome @Samuel Larger . So what's your investing strategy? Are you planning on buying right away and renting it out?
Good luck and remember, you make your money when you buy.
Thanks for the tip @George Makakufaki!
And correct, my first two properties (I'm hoping), will be some what turn key. This way I can learn the land lording aspect without major rehab from the start. I am very mechanically inclined so after my first few properties I will be doing renovate and hold rental properties.
As far as my strategy goes I will be purchasing two properties every year for three years. Then move to commercial 5+ units. I can go into further detail if you are interested?
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