San Marcos, CA · Member since 2019 · 26 posts · 3 votes
Hi there BP community! I'm Michael Oliveira. I'm a very new BP member and have been bitten by the REI bug as of late. My day job is as a medical device engineer up in Orange County. I work on sophisticated imaging systems for early detection and prevention of foot ulcers/amputations in diabetic patients. My goals in real estate are to diversify my investment portfolio and start on the path to financial independence. To have the discretionary time (and wealth) to travel to Hawaii on a whim is one of many life goals of mine. I came across BP when searching for new REI podcasts to listen to during my commute to/from Orange County. Hoping to earn my own success in REI by standings on the shoulders of the BP giants who have come before me!
Welcome to BP! I am a software engineer from washington state looking to go down the similar path to financial independence as you are. I love my job, I just want to own some real estate to provide financial freedom and not solely depend on income alone. I have gotten into stock investments as well, however I am putting that on a brief hold as of now just because I know the short term growth in real estate will outweight that of stocks in my current position. I have met with an investor off BP and I am so excited for the multifamily unit opportunity of investment. I am looking for my first triplex or fourplex by september as an owner occupied investor, renting out the other 2 or 3 units. After I grow enough cash flow, I immediately plan on reinvesting that in at least 2-3 more units that I will completely rent out so I can begin to actually pocket some of the income generated from the rentals (at that point I should have enough after budgeting for maintenance and repairs, I know the first 3 or 4 rental units with all be to get above the breakeven point after the repairs and maintenance reserve.
So that is the path I am on currently! Maybe you are on a similar path, or a different path but as you go throughout your journey I hope you keep us updated on your path in general. I have found the stories shared on BP are so valuable and priceless!
I highly encourage you to network using the network/members tab. It will immediately show you members located nearest to you. Invite them out for coffee, happy hour, dinner, etc and pick their brain! The community here is so helpful and willing to help and share their story and since they are where we want to eventually get, who better else to ask than somebody in our own communities, people who know our markets. Also, the events tab will help you find meet up events locally as well!
Prior to starting to invest, you need to figure out whether you want to be active or passive investor. And then select a niche within the area of choice to educate yourself and start investing. This article should give you some guidance on it: https://www.biggerpockets.com/member-blogs/10850/8...
San Marcos, CA · Member since 2019 · 26 posts · 3 votes
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@Kim Stuart thanks for the warm welcome and for sharing your story! You and I share similar feelings towards our careers and real estate. Love the plan you have laid out. I'm starting to formulate mine. I really like the concept of BRRRR investing and am considering focusing on that at first. Still need to choose a market, build a network, and develop my deal analysis tools (but all in good time!). Stoked to know the stories on BP are so valuable. I'll have to spend some time reading those "case studies" as they will prove to be valuable pieces of education. Also, very cool that you are into software engineering. I've done a fair amount of that myself in my career thus far!
@Alina Trigub Thank you for the tips and article. I'll head over that way now and start reading!