Good Afternoon BiggerPockets,
I am currently living in Sanford, North Carolina. I am avidly learning all I can about real estate. I am looking into getting involved in real estate to create a path to financial independence. My wife and I are both super passionate about getting started and look forward to all the adventures and learning experiences it will bring.
We are currently in the due diligence period for a triplex, Lord willing we will close on it on August 1st, 2018. Other than the all the hours of podcasts, books, and time on BiggerPockets we are newbies.
@Stephen Spearman Welcome to BP. I have learned most everything I know about real estate here through BP. The community and resources here have helped me to exponentially grow my portfolio to a place I would have never believed in a short time. Welcome and if I can ever help you with anything, feel free to reach out!
@Stephen Spearman congrats on getting your first deal under contract. Sounds like your off to a great start in gathering up as much information as possible then taking it to the field and getting a deal wrapped up. Welcome to the forums.
Welcome to Bigger Pockets.
Thanks for the post, @Stephen Spearman . It is encouraging to read that as a new investor you already have a triplex. We currently have zero properties under our belt. :)
Welcome to BP. Great to see that you're actually taking some action on your interests. So many people get caught in a cycle of no action. Best of luck!
Welcome to the site @Stephen Spearman
Welcome to BP and congrats on your decision to create financial freedom for you and your family.
Good luck on the tri plex.
Massive action and determination are the factors needed for success. From personal experience I can tell you that any reason for not taking action are just limiting beliefs.
When I finally started taking action regardless of my beliefs and what I thought was reality, my life and finances started changing. When we started doing deals we had nothing and we’re over $50k in debt and within 100 days we had over 100 doors and were closing on around 20 deals a month.
I would love to hear more about your story. Feel free to reach out at the contact info below.
Thank you all for the warm welcome!
I was waiting to reply till after I closed on the triplex, that way I had some validity and my first rental home/house hack purchase, but unfortunately it fell through because of zoning issues and the golf course not wanting to have it rezoned and the seller not willing to sell the property any other way. It has been a few months full of struggles and headaches, but a great first learning experience. Since then I have put in seven other offers, some even $5,000 over asking price, but keep getting out bid. Multifamily homes are hard to come by right now in my area. I believe I found a solution though and will be trying to close on a large single family home with a two bedroom, one bath inlaw suite by early September hopefully.
Welcome to BP @Stephen Spearman ! Good luck with the triplex you are working on. After you close on that one, what are some of your next plans/goals?
Thanks @Dan Barli ! I plan on closing this deal with a VA home loan. After my wife and I have a tentative plan for the next year. We will finish up the Dave Ramsey debt snowball in November time frame of this year. I will then buy my next property in February of 2019 with a local partner who is experienced so I can learn how a partnership works and is structured (or I will buy two smaller deals solo). After that I plan on purchasing my third in June of 2019. We want to use the stack method and double how many units we buy each year. We will self manage at first so we can learn how to land lord. I just started learning about real estate this year and have a decent knowledge base book wise, but no experience yet. My goal over the next year is to buy three homes and gain some actual experience.
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