Hey all! New here to Bigger Pockets and I'm super excited to be here. Been listening to the podcast for some time now, and am finishing Rich Dad, Poor Dad. Feeling really inspired to pursue financial freedom and I'm looking forward to getting engaged on the site!
A little more about me: I'm in the Portland OR area in my first house. I'm considering renting my current place out (once I crank out the numbers) and buying another property closer to downtown.
Rental Property Investor · Salem, OR · Member since 2016 · 23 posts · 3 votes
8y
Welcome Christopher! I'm just down the road from you in Salem, OR. I love Rich Dad, Poor Dad. Highly recommend Cashflow Quadrant by Robert Kiyosaki as well.
We bought our first investment in October, a duplex that we are living in one side of. Hope you get your first soon.
Tax CPA · Charlotte, NC · Member since 2014 · 215 posts · 186 votes
8y
@Christopher Gee Welcome to BP! If you can house hack, that's a perfect start.
Here are some resources I recommend to newcomers (not paid for mentioning anything in this post:)
Personal Finance
I strongly suggest learning as much as possible about personal finance (if you haven’t already) as I believe strong personal finances is the foundation for a strong real estate portfolio. For starters, BP even has a Money Podcast now!
Software that’s helped me personally:
YNAB – zero based budgeting system and software; their philosophy will help you get out of debt and no longer live paycheck to paycheck
Personal Capital – a high-level net worth tracking software
Episode 283 Paul Thompson - Quite a new episode but I would think everyone would agree this is a top episode. Mainly, the systems implemented are fascinating (VA, automated offers, etc.) Plus...escape velocity...
Episode 113 – Jay Papasan - Very practical slow and steady advice
Episode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k
Last but not least, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.
Real Estate Agent · Portland, OR · Member since 2013 · 412 posts · 219 votes
8y
Welcome to the site Christopher!
Sounds like you've been doing a lot of research and are looking for how to take the next step. Renting out your current place and house hacking your way into another is a great way to start building your portfolio.
Keep asking questions, reading posts, and listening to podcasts!
Also, check out a few of the local real estate investor groups.