Well hello friends...
Hello! I'm a newbie to BP. I'm located in Southern Massachusetts. I've been interested in real estate investing for a long time. I've owned two properties in my lifetime so far. Both were my primary residence in which I completely renovated both on my own...with some help here and there from friends and family of course. I'm not a contractor nor have I ever worked a day in my life in a labored or trades profession. I just have a natural knack for figuring out how stuff works and am good with my hands.
I consider myself fortunate to have a really good job that I enjoy. However, while I enjoy my job, I have always had a passion for real estate. So to answer the proverbial question "what would I do if I had a million dollars?" I'd flip houses. There's something about flipping that draws me in. I don't know, maybe it's the excitement of house hunting and or making a not so nice house into a gem.
I'm big on goal setting both personally and professional so it's been nice to hear that echoed through the BP forums, blogs, and podcasts...which are all excellent by the way.
My goal for real estate investing is to create additional revenue streams so that I don't have to rely on my "day job" to support my family and can become career independent. Ultimately I'd like to built enough wealth to retire early.
As I mentioned earlier I'm interested in flipping. I'm also interested in buy and hold and short term rentals (vacation rentals).
I'd like to start with flipping and then move on from there. Ideally I'd be looking for the right property close to home in the North Attleboro, Attleboro, Plainville, Foxboro, Mansfield area. I also work in RI so I'd be open to properties in and around the Johnston through Cumberland area. (Sorry for those of you not familiar with these areas).
For a short term rental I'd be looking for a property in Cape Cod. Towns of interest are Dennis, Brewster, Yarmouth, and Chatham. I'm a little unsure about this strategy as I'm finding that it's hard to cash flow these properties as the Cape is, for the most part, a seasonal market and is very expensive.
Regardless, i'm working on a plan that I'll share once I'm at the point where it makes sense to me and when I could use some input.
I'm really taking this seriously and would like to find a good property to get started by the end of the year but am patient enough to wait for the right deal. I do have a tendency to over think or over analyze things so I'm hoping to hear some good words of encouragement to help avoid the dreaded "analysis paralysis".