Updated almost 6 years ago on . Most recent reply
Newbie from the Twin Cities
A guy walks into a bar...
...to meet a friend for happy hour (fall 2019). He and his friend talk about life, kids and...finances. That sparks the guy's interest, he goes home and Googles "best books about money." Guy reads "Rich Dad, Poor Dad." Guy gets excited about passive income and living in the cash flow quadrant. Guy goes back to his Google search and finds Brandon Turner's book on "...Rental Property Investing..." which leads the guy to...Bigger Pockets!
And here we are.
The best quote (so far) in Brandon's book is from Honest Abe: "Give me 6 hours to chop down a tree and I'll spend the first 4 sharpening the ax." I'm currently sharpening the ax: reading, listening to the podcasts, talking to my bank (and eventually other lenders), talking to a friend who's a long-time investor (and eventually others like them), figuring how on God's green earth I'm going to pay for my first property, thinking, and trying not to over-think. Sharpening the ax is good, but eventually it's time to start swinging.
I've gone back through the original BP podcasts, started with show #1 and am on #18. I"m slowly getting through Brandon's book (day job and young kids = not much time to sit with a book, but I'm doing my best).
The "About Me" Part:
I have a business degree from the University of Colorado at Denver. I live in the Minneapolis area (Minnetrista, to be exact).
The real estate "thing" has always interested me, but it took until age 46 to have the epiphany in that bar.
My day job is in the senior industry, my night job is time with my wife and kids, and my other night job is studying up on real estate investing.
The "What Are Your Goals?" Part:
My goals are a bit hazy, but they're coming into more focus as I sharpen the ax. I likely want to phase out my day job, but I'm in no hurry, as I do enjoy it. I want to buy my first property within 6-12 months. I'm looking at the buy-and-hold strategy (no plans for flipping or wholesaling) for cash-flow into forever. I plan to accumulate properties, probably single-family at first. I may have some houses with tenants, have others serve as AirBNBs. How many? How fast? Not sure yet. But I'll figure it out, as I'm goal-driven. A concrete plan will happen, but I'm not quite there yet.
I'm looking to connect with local, fellow RE investors; newbies, vets and everything in between. Anybody up for a game of Cash Flow? I love meeting like-minded people, problem solving, networking, connecting others, crunching numbers, talking business, and starting my day with a good workout (I have monthly and annual goals with that, too).
I look forward to engaging more and more on this site, to meeting and/or e-meeting many of you. And someday, to pass on what I have learned. I'm keeping a journal as a Google Doc, and will share it with anybody who wants to see it, learn from it, add to it, whatever.
Thank you, happy holidays. Let's do this.
Lee Syndergaard
Most Popular Reply
Welcome Lee! Not too far from you over here in Hopkins.
I'm a newbie to rei as well - recently picked up the first duplex. Day job is owner of a carpentry business working on a lot of mcmansions in the area - if you ever have questions in regards to finish or framing carpentry - feel free to reach out!