New Investors from Erie, PA

5 Replies

Hello BP, 

My name is Greg and I'm a 30 year old electrical/software engineer from Erie, Pennsylvania just starting out on the real estate/FI journey. 

My wife and I read Rich Dad, Poor Dad at the beginning of this year and completely agreed with his concepts and have been immersing ourselves in real estate and passive investing since then. 

In our initial investigation we determined that we didn't want to invest locally since we live in a economically depressed area with limited employers, so we did the easiest thing and bought a turn-key property in Birmingham. We are currently in the process of closing on this  property. I knew the downsides of this type of investment but felt that our natural tendencies to over analyse everything needed to be combated by a swift decision and action. 

Since then I have gone down the rabbit hole at BP and we have pivoted to focusing on Out of State BRRRR investing a-la-David Greene. We have made no concrete moves forward yet as we are still hunting for our target market to beginning to develop contacts in.

Thanks for everything BP and looking forward to investing in this community,

Hi @Greg Faulconbridge ! Welcome to the BiggerPockets family! You came to the right place to learn all about real estate investing! Here are some recommendations for you:

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Welcome, Greg! Sounds like you and your wife are off to a great start. I'm located a few hours from Birmingham and I agree with you - there's still a lot of opportunity across the Southeast US. With that kind of quick decision-making to head off analysis paralysis, you'll be a great voice in the forums!

Since you're following David Greene's strategy, looks like you've found the podcast ;) I can't recommend it highly enough as you grow your knowledge base in REI. I lurked in the forums and listened to the podcast for several years before making the leap to buying my first property. The education I received through the podcast was invaluable in giving me the knowledge and confidence to do the first deal. Eight properties later and no looking back now!

Best of luck to you and keep us posted on your journey!

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