Greetings and Thank You
Hello BP! My name is Tim Hall. I live in Anderson, Indiana and I currently am working full time as a Nurse Practitioner and paramedic. My wife, Kayla, and I are both 33. We have a toddler and a Golden retriever (a second toddler). I've felt called for about a year or so now to branch out and pursue some type of entrepreneurial endeavor. I really have taken that time to explore several different things, and it seems time and time again it has come back to get involved with real estate. My wife and I have had some fix and flip experiences incidentally, but never with that being the true intentions. Initially we gutted an apartment above a funeral home that we lived in when we first got married, then a distressed large 5 bedroom home with 7 acres that we successfully purchased on a short sale, renovated, and sold a few years later for a decent profit, a foreclosure home which we just completed a full renovation on and are currently living in, my wife's business office which we bought through an online foreclosure auction was a complete gut and renovation and is working great for her business currently, and most recently a lake cabin which we are renovating currently and hope to start enjoying this spring. All of these were done prior to really having a true interest in performing any business transactions. We just enjoyed it!
I'm about 60 podcasts in now (funny hearing stuff recorded in 2013 & 2014), and I am really enjoying them and learning so much. I've heard over and over to not just have a membership to this website, but to be active and proactive. Today is the day! It's very apparent so far that relationships and being relational is key in the business. So I'm hoping to make some contacts and build relationships through this post and through the website.
In getting started investing, my initial action step is obtaining my realtor license. Through my current professional practice, I know that I work best when I have an education to back up my practice. I feel that this will have multiple benefits for our future endeavors (MLS access, structuring deals, sales experience, etc). I know it's not a necessary step, but feel more comfortable getting started that way. My wife and I would like to first explore flipping in our local area getting purchases at tax lien sales/sheriff sales/commissioner sales/deed sales, given our historical transactions. This would hopefully allow us to get some working capital then incorporate SFR's buy and hold, then possibly explore multi-units. We hope to practice a conservative scale pace since we are still working full time and raising a toddler, having our first property under contract by December 31, 2020. We have some available capital currently with HELOCs on our home and cabin, but may look at some hard money loans to get started.
Rich Dad Poor Dad...WOW! Haha had to read this since almost everyone has listed this as a pivotal book in the podcasts. Really makes me wish I would have started this process a long time ago. This process has really re-ignited my passion for reading for pleasure, not just medical texts or research journal articles.
I do want to take just a moment to say thanks to all of the contributors to this website. It's amazing to be able to get into a totally new area of business that I have no intentional previous experience in and know that this website is such a vast and deep resource for beginners. So, thanks for all that you do out there!
If anyone knows of any potential real estate investors in the Anderson, New Castle, Muncie Indiana area that you would recommend reaching out to to see about gaining a mentor please let me know. I'm new, but eager.
Looking forward to making new relationships!