Newbie from Decatur, IL

[Tim Mikesell]

Hi, all!  Thanks in advance for the welcome.

I'm a physician, just finishing up training and a brutal divorce.  Doctors are paid in insults and peanuts until they finish training, so I am used to living cheaply, and was looking hard for ways to retire early, reduce my tax burden, and safeguard my investment.  Real estate seems like a great fit.

I've now owned five houses and basically did slow-motion live in flips on them; my ex-wife and I did very well on all but one.  I've made some money in the stock market but don't like not being able to influence the value of my investment.

My biggest hurdles are my current financial position, which will dramatically improve soon; living in Decatur, IL, which is very depressed (house prices are cheap, but no one wants to live there); and my busy job.  I'm leaning toward remote turnkey investing at this point, probably in St. Louis or Indianapolis.

I've now read (well, listened to on a long road trip) "How to Invest in Real Estate," "Real Estate Note Investing," "Long Distance Real Estate Investing," and "Finding and Funding Great Deals."  I've also listened to many of the more recent BiggerPockets podcast episodes.  

Thanks to all of you who have contributed over the years.  You've been immensely helpful.  Now, on to my first deal!

[Mark Ainley]

@Tim Mikesell sounds like you have built up some good experience in your market. Why not buy another one in Decatur cheaper and hold it?  Will you be sticking around Decatur?