New Member & Beginning Investor from El Paso, Texas

9 Replies

Hello everyone!  I've been lurking on BP for a few weeks now and figured it was time to introduce myself.

I have been practicing law for over 20 years. I live in El Paso, Texas with my wife and two sons. I'm 52 and looking to get into real estate investing part-time while I continue to practice law. No, I'm not a real estate attorney - I litigate in the areas of labor law and family law. Plus whatever else comes along that sounds fun.

Ultimately, I would like to build a portfolio of cash flow properties to augment my retirement. While my main strategy will be buy and hold, I am not averse to wholesaling or flipping, if that seems right for the deal and my situation at the time.

I am about 3 weeks into my REI education. I have taken the advice of several people from this community by writing down my goals and making a plan for achieving them. This had been great for me! Kind of like improving my nutrition.

Thanks so much to the entire BP community for creating this amazing resource. You've saved me from dropping $$ on gurus and, no doubt, delivered better information than I would get from them anyway.

Hello and welcome to BP. So, you probably would be interested in Performing Notes/CFD the usuallly go for 60-75 cents on the dollar. In that case you would have to get the collateral files to do most of your due diligence. However, I have a few things for you to look at that might peak your interest in the TX market.

Kudos to you for finally taking the leap Jim. If there's anything you ever need help with regarding our area or real estate investing in general please feel free to reach out 

Originally posted by @Jim Jopling :

Hello everyone!  I've been lurking on BP for a few weeks now and figured it was time to introduce myself.

I have been practicing law for over 20 years.  I live in El Paso, Texas with my wife and two sons.  I'm 52 and looking to get into real estate investing part-time while I continue to practice law. No, I'm not a real estate attorney - I litigate in the areas of labor law and family law.  Plus whatever else comes along that sounds fun.

Ultimately, I would like to build a portfolio of cash flow properties to augment my retirement. While my main strategy will be buy and hold, I am not averse to wholesaling or flipping, if that seems right for the deal and my situation at the time.

I am about 3 weeks into my REI education. I have taken the advice of several people from this community by writing down my goals and making a plan for achieving them. This had been great for me! Kind of like improving my nutrition.

Thanks so much to the entire BP community for creating this amazing resource. You've saved me from dropping $$ on gurus and, no doubt, delivered better information than I would get from them anyway.

 Hello and welcome!

This is a great place to get things started. You can learn a lot on this site about REI. Feel free to send me a message with any questions.

Welcome Jim! You're right on track with the "augment" your income statement. Properly building out a portfolio takes time and proper due diligence. Sounds like your expectations our appropriate for real estate investing. There are huge number of options in real estate investing but the main three we work with are:

  1. Traditional Turnkey Real Estate Investing
  2. The BRRRR Investment Strategy
  3. Real Estate Flip Funding

Choosing which one (if any) is right for you will be determined by the amount of capital you're working with, your timelines, your goals and a few other factors. These three options have the lowest entry barriers, proven track records and the most options. As you'll find out, there are plenty of developers, vendors and builders represented on BiggerPockets who are willing to help you get started. Sounds like you've already tapped into some of it.

If there's anything I can do to help "quiet the noise" of real estate investing, please don't hesitate to connect. We're here to help.

Welcome to the community and Happy investing Jim.

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