Aspiring Rich Dad

6 Replies

I did what everyone seems to do.  I read the books, got motivated, and learned it was time to learn.  While I build the bankroll to get the investing started, I've decided to spend a year or two getting educated on the process.  Enter BP...

Investing goals: Build a passive, cash flowing portfolio that produces $10M in monthly net cash flows in 10 years.   Net worth of $1MM by the time I turn 40.  Purchase first investment property during 2016, 3 total by end of 2017, 5 by 2018.

Looking to meet new and experienced investors in the Chicago land and central Illinois markets.

Kenneth, welcome to BP.

Question: why wait until 2016 to buy a property? You still have 2 months and in that time, you can buy a property or even two :-)

Also, the best education is implementing immediately what you've learned and taking massive action. That's how you truly learn. No need to wait 1-2 years to get started making offers and getting deals done.

Listen to all the podcasts - specially mine (LOL). Here:

http://Biggerpocket.com/show65

Network with as many investors here - specially face-to-face. @Brie Schmidt organizes a great meetup in Chicago. I suggest you attend her meetup and other real estate networking meetings. If you need any help, let me know.

Thank you for the response Wendell.  I am a big fan of @brie Schmidt, her podcasts probably got most excited to pull the trigger.  I don't know if I've went back as far as 65 yet, but I know I've listened to pretty much everything after 90.  I'll check it out.

I hate thinking that I am standing on the sidelines and not getting in the game, so I completely agree with you posed question.  You should never sit around and wait for the game to you.  I have some small matters I'm trying to wrap up on my end to free up my time and cash for investing.  I just purchased a home this year and we've been doing renovations and trying to deal with a legal matter relating to the property.  As annoying as it's been, I feel it has been a great warm up for investing.  Anyways, no excuses from me, I'm ready to get rolling and meeting folks.  I didn't know there was a regular meetup, but I'll be sure to be joining into that.

@Kenneth Cowan ...Welcome to BP. I echo Account Closed in taking action. To be honest, one of the best ways I've learned most anything over the years was OJT=on the job training. I get the concepts from books and the like but the application is what brings it together and cements the knowledge you've gained. 

@Kenneth Cowan  

I concur withAccount Closed get started. I hear what you are saying in regards to personal home; nevertheless you still fused forward with creative financing, low or no money down, seller financing, hard money lenders and etc. I will be a fly on the wall waiting for your next move ...lol.

                            Enjoy as you prosper.....

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