Real Estate Investor

7 Replies

Started investing in real estate 7-8 years ago. Read Rich Dad Poor Dad 2 years ago. Joined Madison RHEA last year but due to my hectic schedule Ive only gone a few times.  Found Bigger Pockets Podcast a few weeks ago.  What else am I missing out on in this world?

@Peter Miller

Welcome to Bigger Pockets!

This is a great place to learn and network. A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

Discounts on some products and services are offered to BP members: https://www.biggerpockets.com/perks/pro

If you haven’t been to it already, you might want to check out the BP blog: https://www.biggerpockets.com/renewsblog/

The site has quite a few tools that can be helpful for new members. I like the search features: https://www.biggerpockets.com/search

@Peter Miller , welcome to BP, there are lots of great people and opportunities to network here.

I also highly recommend that you get more involved in your local REIA. There are some great opportunities there for you to network and learn as well.

If you can't make it to REIA, try looking for some meet ups that fit your schedule. Networking is very important.

Lastly, make sure your as active as you can be in the forums here at BP. You won't regret it.

Good luck!

@Jeff Cichocki I started investing in real estate 7 years ago.  Working 80-100 hours a week to save up my next down payment and rehab costs.  2 years ago after building my new house I read Rich Dad Poor Dad and it changed my life.  I was worth almost $750,000 at this time and was going about it the wrong way.

The following year I coupled equity in my house and cash to buy 3 duplexs.  I started listening to Bigger Podcasts few weeks ago and it dawned on me that my sweat equity in my other rentals is stagnant.  Im meeting with mortgages brokers this week and next week.  

Refinancing with lower interest rates I'll be able to pull out $100,000k cash and cash flow $1,000 more a month!  Pushing my cash flow to $6k+/month.  New renovations will push me to $7500-8k/month passive incone and I'll still have 25% equity in every property!

I wish I would have found out these creative ways of leveraging equity sooner.  My goal is 10k/month so I can be fiscally independent, which is right around the corner.

The Madison REIA has meetings in the PM that conflict with my 3 children's bed times which I strive to be home for every night and working during the day conflicts with my lunch meetings. I do see the value in it, I also see the value in a platform such as this.

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