New member from Murrieta, CA
Hello BP world,
My name is Kris Spencer and I have recently gained a stalker like obsession with real estate investing. I'v been chugging the BP podcast and planning out my REI future. I currently work full time, have a family, and own my home under a VA loan (GO ARMY!). Here's what I got going on so far.
(In progress): Flood my brain with real estate investing knowledge, stash money for down payment, and build my team (so far I have a breacher, heavy gunner, and demolition expert). I'm still learning my local markets, as I will not be doing any long distance investing (I hate you midwesterners with your $40k houses!)
Here's where I'm stuck. I won't be house hacking or moving in the next 10 years so traditional loans for me. 20% down in my market, south Riverside County, is brutal. We're talking $40-60 grand down! My long term goal is to develop a large portfolio of rental properties for a passive income retirement so I can travel the world for the last 1/3 of my life. I would love to start flipping lower priced houses to learn the biz and create some capital. Im not in any hurry since I have a decent paying career. Saving 40-60k each time I want to buy a rental is gonna take way too long.
Anywho I'm happy to be here and cant wait to start "engaging". Are you happy now Josh Dorkin?