Investing Newbie from Oklahoma City metro area

Investing Newbie from Oklahoma City metro area

Software developer · Mustang, OK · Member since 2015 · 16 posts · 4 votes

Good morning All,

I'm Travis and I live in the Oklahoma City area.  I'm  in my early 30s, and an experienced software developer currently looking for passive income opportunities, but I would like to eventually move into real estate investment full time when I get into my forties. 

A relative of mine got into flipping houses earlier this year.  I thought he was going about it all wrong and wanted to find some resources to back my claim, and that's how I came across this website.  I still think he's going about his strategy wrong, however to his credit he is DOING it which is more than I can say for myself.  

So after a few months of lurking, listening to the Podcast, and reading a couple of the recommended books, my way of thinking is now fully into getting me out of the rat race and into real estate investing.

I am currently in "saving money" mode as I don't have ready funds to buy properties.  My goal is to have some nice capital by next Summer to get my first property.  I appreciate any advice to help me through this initial phase and leap of faith.

Thanks!

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  • Dave VisayaPro Member
    Moderator
    Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
    11y

    Hey @Travis Benham welcome to BiggerPockets! This is the perfect place to learn more about REI. You can check the Learn tab above to get some free resources on getting started.

    BiggerPockets
  • Houston, TX · Member since 2013 · 1k+ posts · 114 votes
    11y

    Welcome to Biggerpockets @Travis Benham! Wishing you all the best!

  • Rhett TullisBusiness Member
    Property Manager · Oklahoma City, OK · Member since 2013 · 1k+ posts · 617 votes
    11y

    you are in the right town, lots of options here.  i personally invest only in the okc metro and have been happy with my returns.  

  • Attorney · Shawnee, OK · Member since 2013 · 350 posts · 230 votes
    11y

    Welcome! We have a BP Meet Up on the 4th Tuesday at Noon each month in OKC. Please set your keyword alerts up and watch for the announcement soon. Good luck on your journey.

  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    11y

    @Travis Benham

    Welcome to Bigger Pockets.

  • Oklahoma City, OK · Member since 2015 · 4 posts · 2 votes
    11y

    Welcome to BP.

  • Real Estate Investor · Houston, TX · Member since 2015 · 269 posts · 31 votes
    11y

    @Travis Benham

    Welcome buddy! You are in the right place, congrats on taking the first steps. This is the right community! PM me - I help investors create cash flow through real estate notes. I would love you have a conversation with you.

  • Investor · Tempe, AZ · Member since 2015 · 304 posts · 19 votes
    11y

    Hey @Travis Benham

    Great to have you here! 

    As a new investor looking for passive income I quickly jumped into the house flipping market as well. After failed experiences and too much hassle, I found my niche in land investment. Perhaps I took the easy way out, because there is certainly a correct way to go about the house flipping strategy. Just be careful that you do your homework before you end up wasting your time like I did! Here to help if you ever have any questions.

    Best of luck to you Travis!

    -Kyle 

  • Software developer · Mustang, OK · Member since 2015 · 16 posts · 4 votes
    11y
    Originally posted by @Kyle Tokasey:

    As a new investor looking for passive income I quickly jumped into the house flipping market as well. After failed experiences and too much hassle, I found my niche in land investment. 

    Doing research these past few months, I've discovered flipping does not meet my personality, even though it sounds good in my mind.   I'm much more comfortable with Buying and Holding, building my asset portfolio.  I'm currently looking at niche markets as well.

  • Lender · Tucson, AZ · Member since 2015 · 279 posts · 91 votes
    11y

    Travis:

    Welcome to BP! Given the fact you're in Oklahoma, I feel I can offer this piece of advice to you without it coming across as a "pitch" for your business.

    When you have amassed the money you feel you need for this new endeavor or REI, I would strongly recommend you meet with a mortgage/financial professional first. When you meet with him/her, he/she will ask that you share both your short-term AND your long-term goals. Then, he/she will be able to help you construct a plan that will enable you to reach your short-term goals and reap the benefits needed for the proceeds and resources that your long-term goals will require. All too often, new investors either overdevelop or spend their money too fast - both of these behaviors derail their plans and stops them woefully short. If you don't have a mortgage person yet, I would strongly recommend reaching out to a couple of investors you know in your area and asking them for a referral.

    I wish you the very best!

  • Professional · Boston, MA · Member since 2015 · 84 posts · 16 votes
    11y

    Hi Travis and welcome to BP!

    You are taking steps in the right direction by becoming part of this online community.

    To your success!

    Victoria

  • Real Estate Investor · Houston, TX · Member since 2015 · 269 posts · 31 votes
    11y

    I think it is definitely wise to take your time before leaping into any investment, all things require the proper research and due diligence. There is no such thing as quick money. Again, I have found BP to be a huge resource for myself and then having a mentor. Surround yourself around people doing what it is you are trying to accomplish, when drop breadcrumbs, take it like a feast. You will do well my friend!

  • Investor · Bay Shore, NY · Member since 2014 · 1k+ posts · 688 votes
    11y

    @Travis Benham  - Welcome to the BP community. You have the discipline and tenacity to probe as outlined. And as you found out, one thing leads to another.

    You are at the right place to build your knowledge and confidence towards your 1st investment purchase. 

    I have no doubt that you will be successful. Continue with your action plan for saving and simultaneously look for opportunities along the way.

    We look forward to your contributions and success.

  • Engineer · Oklahoma City, OK · Member since 2013 · 144 posts · 44 votes
    11y

    Welcome here, there are a lot of OKC folks around.  You hit the nail on the head when you said he is DOING.  The biggest part of this journey is constantly taking steps forward.

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