Paul Sarmiento from Pico Rivera, CA

6 Replies

It is with great excitement and the desire for a greater future that I have joined Bigger Pockets. After reading Rich Dad, Poor Dad, I was forced to reflect on my life and the decisions I have made. Although the book did a great job of changing my mindset, I knew it was up to me to figure out what path I would take to reach financial success and freedom. Like many, I want to leave a great legacy for my family. After doing a bit of research and stumbling upon a youtube video by Brandon Turner, the gears started turning and I have been reading books, listening to audio books and the Bigger Pockets podcast, and watching many of this site's videos. I'm hooked! 

I am a complete newbie. The only experience I have had with real estate was the purchase and sale of my condominium, and the purchase of my current single family residence, which in retrospect, I could have made better decisions with what I know now. I am very interested in buy-and-hold real estate, but have come across a few hurdles in my journey. One being that I live Southern California where home prices are very high, and two, although I make a decent living as an early childhood special education teacher, my current debt with my mortgage, student loans, and car payment are too high to qualify for a bank loan for an investment property.

Therefore, I am currently trying to address my debt, looking into wholesaling as a way to increase my income for investment purposes, and continuing to do as much research on how to start my life as a real estate investor. If anyone has any suggestions or can point me in the right direction, I'd greatly appreciate it.

Brutally reducing your living expenses will really help you stay in the game.  Pick an area close to you that you can learn the inside scoop of what is happening.  Investing in your knowledge, libraries have tons of books.  Join your local investment club & start learning & networking.

Read books, listen to podcasts, speak with sellers & investors.

Best of luck.

@Paul D Sarmiento

Welcome to Bigger Pockets!

You'll find plenty of friendly, knowledgeable people willing to respond to your posts. A lot of forum members are experts in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, buy and hold investing, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

There are some pretty nice discounts on many products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/pro

If you haven’t been to it already, the Bigger Pockets blog features links to their fantastic podcast and many great articles: https://www.biggerpockets.com/renewsblog/

The site has quite a few tools that can be helpful for new members. For example, if you are looking to connect with other members near you, want to learn from people in a specific area you’d like to invest in, or have a desire to find people interested in certain topics, you could use the search feature here: https://www.biggerpockets.com/search/users

I really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alerts

There are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

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