Newbie in Phoenixville, PA
Hi All!
My name is Erik Miller and I want to invest in real estate! I have had a membership to the site for quite some time and am now ready to get more involved and fully commit to making some moves.
I want to invest in real estate because I want to make more money and provide my family with the tools they will need to be successful. I grew up in a house where I heard the phrase, "we can't afford it" way too often. I don't want to have to say that to my kids or my wife. I want to provide them with opportunities to learn, travel, and be exposed to life outside of the bubble, (i.e. school and home).
I am currently renting out a condo that served as my first home. We moved to Phoenixville 2 years ago and kept the condo as an investment property (despite our agent telling me to sell it and take the money!). Keeping it as a rental was my plan from the beginning when I bought it in 2004 and it makes me feel empowered knowing that that original thought has come to fruition.
I'm ready for more.
What I would like to do now is sell the condo and buy a duplex or triplex. I've learned, from the podcast and now experience, that having a condo as an investment isn't too profitable. The association fees eat up all my cash flow. Having someone else building equity for you is great, but breaking even or losing a few bucks every month is not.
I look forward to networking with and learning from the experienced investors on this site.
Many thanks in advance for your help,
Erik