New member with burning zeal

5 Replies

Hello BP! I've always had a love for real estate. As a teenager, I would help my uncle rehab his multiple rent properties in Milwaukee, WI. A few months ago, my wife divorced me and took our 4 small children to Texas. I have a burning desire to create a positive financial future for my family, along with moving to Cisco, TX to be with my kids.

I have been spending 4+ hours a day watching videos, reading, improving my credit (710+), searching for deals, running the numbers on 3+ properties / day, and in the process of opening a hybrid HELOC with 12-month 2.74%APR. I been donating plasma since Oct 2018 and Ebaying to increase my income on top of my full-time job at Cerner. I have amassed $6k in liquid capital to help start my RE journey.

These new events have increased my need to improve my income long-term. Selling my house does not seem the wisest move currently, as I have ~$55k equity. I have considered renting it, but leaning towards AirBNB. If things don't work out, then I could always sell.

  I feel the fear and doubt trying to put out my burning desire to improve my life. The stress is unreal. I'm going to do this, for my children. If anyone has any advice, I will listen. Anything that helps me grow in my real estate journey, I'm willing to do. Thank you for reading this. I apologize if I got too personal.

@Ethan Cupit figure out what other value you can bring to the real estate market. It doesn’t need to be money.

Here is the SECRET TO REAL ESTATE

Ill give it to you for free but remember where it came from!!

The people...

that make the money in RE....

are the ones...

Hope your still with me....

That find the most DEALS!

You don’t need money for that, you need wisdom. The next lesson (the wisdom) is not free however. Lol.

@Ethan Cupit

Welcome to the BP family! Good to have you here!

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Wishing you the best!

@Ethan Cupit saw your profile - with a WHY as big as yours you can't fail! 

This is an equal opportunity industry, your will to succeed and to do whatever it takes is the single biggest success factor!

I wish you much success, no luck needed!

Marcus

Thank you for your responses @Adam Mitchell , @Dmitriy Fomichenko , and @Marcus Auerbach . My WHY is HUGE(tm)! I've listened to at least 30 podcasts already and printed out & started read the beginner's guide. I need to setup some alerts, I'll do that tonight. Networking will surely be the hardest thing for me. I've already begun searching out local RE meetups and people to chat with. Thank you all for taking the time to reply and offer help.

Great to hear that you are going deep on the knowledge piece before jumping in.  It is critical to understand the numbers on a deal before you pull the trigger.  I think a lot of people are overpaying for deals in this hot market due to not having a good understanding of underwriting.  You are going down the right path and don't be afraid to pull the trigger on a deal when you find one that makes sense!

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