New to BP and REI, look forward to learning and connecting

New Member Introductions
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New to BP and REI, look forward to learning and connecting

James Geary
Tewksbury, MA · Member since 2019 · 2 posts · 1 vote

Hey all on BP! 

My name is James Geary. I come from a construction background, I am now a licensed PE and worked as a consultant for a few years, and I am now a project manager for a steel construction company.

Started diving into REI in the last couple of months and feel like I have listened to about a dozen books, read 2 texts books, and countless podcasts and videos. Needless to say, I caught the bug.

I am ready to stop the analysis and start buying. I live in MA and there doesn't appear to be anything any where near by that approaches the 1% rule and after some research I have settled on the Orlando area for my first property. I have family down there and have heard a lot of good things.

Anyway, look forward to connecting and hopefully contributing to the forum.

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  • Sue Hough
    Developer · Chicago IL · Member since 2019 · 147 posts · 125 votes
    7y

    Good morning @James Geary!  Glad you are taking some great steps to becoming an investor.  The Q&A forum here is wonderful, with people offering advise within a few hours.  If you want any advise, don’t forget to ask a questions...

    Good Luck,

    Sue Hough

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  • Lien VuongBusiness Member
    Real Estate Agent · Boston, MA · Member since 2018 · 2k+ posts · 1k+ votes
    7y

    Good work on narrowing down on your search area. Have you figured out what rental strategy you'll deploy? With Orlando you can do short term or long term given its vacation marketplace. I do both types of rentals and have really enjoyed Airbnb myself. 

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  • James Geary
    OP
    Tewksbury, MA · Member since 2019 · 2 posts · 1 vote
    7y

    Thank you! Well as I dig deeper, I think the BRRRRR strategy is the most appealing for me right now. The main plan is to hold long term, the short term plan is to get cash flow with appreciation being the bonus. My struggle is to analyze and find a market to start. I am looking to invest between $75-$125k in capital to start.

    Does anyone have tips or links to narrowing markets? I feel a little overwhelmed with the amount of locations!

    As for rental strategy, I am planning on ‘long term’ rentals. Maybe once I get my feet wet I will look into AirBnb type rental.

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