Path to financial freedom and escaping the rat race !

16 Replies

Hello All, new member who's been reading and self-educating through BP for several weeks and I believe BP could be my ticket out of the rat race ! 28 years old in Ohio looking to learn the game and become financially free through RE investing. Buy and Hold small multifamily rentals is what I'm currently interested in. Hello !

Best of luck on your investing journey Brandon. The rental book investing would be a good resource if you'll be into buy and hold investing. 

Hi Brandon and welcome to BP! I can relate to your goal of leaving the "rat race" and pursuing your passion for RE Investing. All of my education, research and experience have led me toward commercial real estate investing, with a specific focus on Multi-Family. The benefits can be incredible and the opportunity to work in a niche that is a win-win for both investors/sponsors and renters alike is even more rewarding. I’m happy to share my experience if you have any questions.

Good luck!

Melinda

@Brandon Shiverdecker Welcome to the BP community! Read the books and blogs, find local REI clubs either thru BP or Meetup website. Btw, the way Meetup works is, once you sign up for one club, it will pour over a ton of similar recommendations your way. Listen to books, podcasts, talk to investors at the local REI clubs and virtually. My only other piece of advice is to stay laser focused on ONE niche at a time. So if you for instance decided to go for residential multifamily (2 to 4 units) then stick to it. Identify the geo areas and start searching!

If you need any other help feel free to PM me.

My best!

@Alina Trigub Thanks for the welcome! I have and will continue to read everything I can on BP ! I will attend a Meetup asap as well ! Thank you very much for the tips ! Also, keeping "laser focused" on ONE niche will definitely help me ! Great tip! And thank you for opening my questions to you ! Thanks again !

Welcome @Brandon Shiverdecker .

You've certainly come to the right place. I don't know anything about Dayton's market, but so many people seem to look to the Midwest for cash flow properties. (It's tough here in Denver, though I'm bullish on the long-term appreciation potential for both Denver and Colorado Springs.)

Good luck in your path toward financial freedom!

@James Carlson Thank you for the welcome ! This market is not where i would want to invest forever, but I do believe it's perfect to learn ! Cheap houses but mediocre neighborhoods. Once I get an understanding of what to do and what not to do , I will probably take that and invest in different more nicer areas. Being so new, I have a lot to learn and continually improvements to be made. Hope to do my 1st deal by the end of 2018 (don't want to rush , but also don't want to wait for the perfect property). Thank you again .

Step back and adjust your thinking about the "rat race". It will take you 10-15 years of steady investing to grow to the point of replacing a pay check. For now your pay check is the easiest money you will ever make, it will provide savings as well as the ability to get credit/financing. Trading a little bit of your time for a pay check is not a rat race it is easy money.  

Hi Brandon!

I’m new here too. I’ve been doing lots of reading and “getting ready to get ready” to work my first deal. Good Luck to you, as we begin our journey to Bigger Pockets!

@Brandon Shiverdecker

It's the way to go! Househacking first was the way that I did it. 

It allows you to save up money more rapidly to keep investing. That and I keep all rental income in a separate account that I don't touch except to pay rental related expenses. 

Good luck!

@Thomas S. I like your attitude towards the "rat race", but I don't see it the same way. I personally hate the idea of trading my time for a paycheck and making someone else rich, no matter how easy the money is. I simply want to be able to enjoy my little time on this earth and not spend 50-70 hours a week at my "job" until I die or retire. I'm willing and focused , more now than ever, to do what it takes to get financially free. Sorry, I kind of went into it a little deep but understand that it's simply passion to become financially free and enjoy the time i have left on this planet. Thank you for your reply !

@Anthony Angotti YES ! Keeping separate accounts for REI is genius. I actually was thinking about this just last night! I also thought about Househacking, but for me personally it wouldn't work out. I'm currently working 50-70 hours a week and some Saturdays as well. I do not have the time to efficiently Househack. Great tip though ! Thank you for the post and the good luck wish !

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