IT Nerd Investor - Columbia, South Carolina

IT Nerd Investor - Columbia, South Carolina

Investor · West Columbia, SC · Member since 2017 · 46 posts · 13 votes

Hey folks!

My name is Chris, and I'm one of your latest super real estate newbs. I've spent the last 10 years in Information Technology, and I currently work as Director of Cybersecurity Operations at a financial institution in SC. The only real estate experience I have is purchasing my own home.

I've had a growing interest in real estate for the last couple years. There are so many great advantages to real estate investing that you don't see in stock market investing. Recently, I found the Bigger Pockets podcast on the internet, started listening, and I'm hooked. I think it was the way that Brandon and Josh slow things down and help newbs understand all of the terms flying around. I've learned so much in just the last month. Looking forward to meeting new people and learning what I can.

My short term goal is to buy my first investment property in 2017. Intermediate goal is to have $4500 in rental income by 2020. Do I sound like a newb yet?

On a personal level, I have a wife, two toddlers, a dog and a rat a cat. In my spare time, I write about personal finance, dabble in wood work, shoot at the range, and pick up the occasional video game.

I'll see you all on the forums!

-Chris

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Real Estate Agent · Columbia, SC · Member since 2016 · 13 posts · 23 votes
9y
Hey Chris, I'm also in the Columbia market. My wife and I like to rehab homes in SC. Good luck on your RE journey, nothing is impossible!
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  • Michael S.Pro Member
    Biggerpockets Support · Las Pinas, Metro Manila · Member since 2015 · 7k+ posts · 1k+ votes
    9y

    Great to have you in Biggerpockets Chris and see you around the forums

    BiggerPockets
  • Investor · West Columbia, SC · Member since 2017 · 46 posts · 13 votes
    9y
    Thanks Michael Sato !
  • Real Estate Agent · Columbia, SC · Member since 2016 · 13 posts · 23 votes
    9y
    Hey Chris, I'm also in the Columbia market. My wife and I like to rehab homes in SC. Good luck on your RE journey, nothing is impossible!
  • Investor · West Columbia, SC · Member since 2017 · 46 posts · 13 votes
    9y

    Thanks, @Michael Beauchemin! How'd you get started in REI? What would be your top 1-3 tips for a beginner? Hope to see you around!

  • Real Estate Agent · Columbia, SC · Member since 2016 · 13 posts · 23 votes
    9y
    Chris V. I bought a home that needed a complete rehab, spent about 40k I had saved up on materials and spent a year doing the work minus the roof (not a fan of heights). It was my primary residence meaning I was living in it during the rehab, this helped to maximize my profits. Advice I would give to someone that wanted to get into RE is 1. start saving and living frugal, put every dollar you can towards your dream. You will have more opportunities if you have skin in the game 2. Spend some time learning about drywall repair, learn how to do minor electrical and plumbing (like hanging a ceiling fan, or replacing faucets and drains) these will benefit you tremendously even if you end up hiring someone to do these jobs it's gonna be harder for someone to take advantage of you because you understand what is required. 3. Find a niche you like and know that area of the market like the back of your hand. Hope to see you around, if you want to grab lunch sometime and talk RE just shoot me a message!
  • Daniel HymanBusiness Member
    CPA · Milwaukee, WI · Member since 2016 · 2k+ posts · 1k+ votes
    9y
    Chris V. Welcome to the BP community! Nice to have you here.
    My Online Accountant572 Reviews
  • Rental Property Investor · Spartanburg, SC · Member since 2013 · 253 posts · 56 votes
    9y

    Welcome to the community, Chris! Definitely in the right space! Happy Hunting!

  • Investor · Columbia, SC · Member since 2015 · 5 posts · 2 votes
    9y

    Hey @Chris V. I'm in a similar position.  

    I'm in the same area as you, working as a network manager by since 2003.  I've been doing real estate investing since 2005, with 12 units operating in the Columbia area.  

    Your goal is ambitious, but also very achievable.  Stash away as much of that W2 income as you can for down payments, though.  The numbers you are throwing around seem to imply you want to buy & hold rentals...everyone has their opinion of the "best" type of property, and my personal preference for hitting the numbers you're targeting would be a multifamily property.  I've done single-family, and condos for years...but once I bought a multifamily property, my results accelerated almost overnight.

    Welcome to the hybrid IT/Real Estate club...there's a few of us around.

    Matt

  • Andrew R. LucasBusiness Member
    Investor · Columbia, SC · Member since 2016 · 675 posts · 320 votes
    9y

    Welcome @Chris V.!

    Welcome aboard.  BP has been a driving force for me this past year.  The podcasts and forums keep me motivated to reach my goals.  

    I too have 2 toddlers, but I trump that with a 5 month old as well. :)

    PM me with what type of property you are looking for as your first. I'm not a wholesaler, but i look at a lot of properties.  

  • Real Estate Investor · Charleston, SC · Member since 2016 · 57 posts · 12 votes
    9y

    @Chris V.

    Welcome aboard!  My husband and I bought our 2nd rental at the end of last year, and we are looking for a few more now.  We personally are looking at buy and hold.  

    Wish you all the best and let me know if I can share anything I've learned so far.  Best of luck!

  • Contractor · Columbia, SC · Member since 2020 · 1 post · 0 votes
    6y

    @Chris V.

    Hello Chris. I thought I would introduce myself! I read your information and saw that you are an IT director also doing real estate.

    I got out of the Air Force a little under two years ago and I am currently working as an installer for BathFitter, where I have learned a good bit about renovating (specifically bathtubs and showers). I am going back to school using my GI Bill, and I am going for my Bachelors of Science in information technology. I have been listening to podcasts and also stumbled across deeper pockets much like you did and I’m hooked. I really want to invest in rental properties like 3-5 units. At this point I do not know where to start other than getting tips and pointers from others doing what I want to do! Also I wouldn’t mind getting some advice on what I can do in IT.

    I hope this message finds you well. Thanks for reading!

    Respectfully,

    Raul Gandara

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