Hey everyone! My name is Roman Johnson. I'm 28, married with a 2yo and I'm brand new to real estate investing. For my day job I own/operate a video production/marketing company in Tulsa, Oklahoma.
I had been very hesitant to try real estate investing due to the usual misconceptions (not enough money, lack of handyman skills etc). When I won a sizable cash prize from a video contest I had to decide what to do with it. I'm all about the F.I.R.E. movement and was pretty close to dumping it into index funds/retirement accounts but something told me to hold on. I just couldn't bring myself to just throw it into some unknown thing that was out of my control/hustle.
Enter the BP podcast. It opened my eyes to the options I have available not only using my money but using leverage as well! I'm devouring every resource I can right now and am very excited to take action.
I'm currently most interested in BRRR strategy with single/multi-family homes. Looking to make connections with agents, brokers, and other investors! If you're in the Tulsa area let's grab a coffee!
My goal is to have my first single family by November of this year. Any words of wisdom you would have for someone like me looking to move fast and get started?
The best is ahead! LET'S GO!
Hi Roman! You are in the right place to find info and advice about RE investing. Lots of people willing to share their successes and failures! I have mostly lurked on here, occasionally reply to people if I have any direct knowledge, but learn lots just reading. What is your situation now? Are you renting or do you own a home now? House hacking is an option for getting into RE, if you rent. I wish I had known about it when I bought my first house! Sounds like you are in a good place to jump into investing.
I have been investing in short term rentals. I have 3 STR's now, in just under a year. Two are in Tulsa and one is down in Galveston, TX. I enjoy finding and getting the properties ready for guests, and find it more lucrative than "regular" long term rentals. We use Airbnb and Homeaway/VRBO for our properties, and are starting to manage other STR's also. I don't see much discussion about STR's on here, but would love to talk about it if anyone is interested.
Great to see another person from Tulsa! Scott does a luch meetup here in Tulsa maybe once a month. And I try to put on an evening meetup once every other month.
Would be great to see you at one of those.
Roman, I also run a video production company and am starting the RE investing journey. My wife is our producer and I handle the video camerawork, lighting and sound. We are based near Winston-Salem, North Carolina and have been focusing on videos delivered online for corporate and non-profit organizations.
Since we are currently operating a small business, we have the flexibility of time during the day to devote to real estate investing and are familiar with business deductions. We receive passive income monthly from our business and we want to have our money to continue to work for us through RE investing. With the understanding that we can't do video production into our 60's and 70's, transitioning to real estate now seems like the logical direction. We are also interested in BRRRR with SFH/multi-family homes. We are in our late 40's, early 50's, have a large amount of equity in our current SFH, excellent credit, only a car payment for liabilities/debt. Plus, if we want to sell a property we can make our own awesome home tour videos with stabilized camera interior shots and exterior drone video shots.
I applaud you for starting the RE investing journey at your age. You will have the opportunity of time to build and scale your investments. We are in the education, team building and collecting all our funding options stage now.
I wish you all the best in your investing!
Welcome to BP, Roman! Be sure to subscribe to the Tulsa real estate forum to network with other investors and keep up with Tulsa-specific topics:
As for beginning advice, I echo @Michael Slockers ' advice above -- get out there, look at properties and make offers! Before purchasing my first property, I read books and analyzed deals for over a year waiting for the perfect property to come along. I learned far more by actually "doing" a deal than I ever did from reading a book. Getting that first deal under your belt will help you gain the momentum you need to carry you forward.
Welcome to the BP family! Glad you joined the best real estate investing website! Here are some recommendations for you:
Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/
Wishing you the best!
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