BiggerPockets and investing Newbie in the Orlando, FL area

6 Replies

Hello all. I signed up for BiggerPockets just over a year ago, but I'm ashamed to say I haven't done anything since then.  So, time to introduce myself and say hello!

I am in the Orlando, FL area (right next to the Magic Kingdom in the Horizon West area, my address says Winter Garden). I've been interested in Real Estate investing for a LONG time, since reading Rich Dad, Poor Dad back when I first got married in the early 2000's. Played the Cashflow board game (which we still have and enjoy playing on occasion) and tried to learn some about getting out of the rat race through the years. But, I haven't done much to act on it yet. I used to work in Construction and Design industry (as an Engineer, then a Project Manager for a home developer). But the past 10 years I have been working in Ministry. Still having the desire to build wealth and be a good steward of what I have, I have started to look at ways to get in to Real Estate investing. That lead me to get my Real Estate license this past summer and start a Real Estate business. So now, I finally come back to BiggerPockets with the hopes of learning and taking the leap into Real Estate investing to build wealth, passive income, and better provide for me and my family. Look forward to connecting and learning.

Hi @Nate Patrick !

Welcome to BP! I am fairly new to BP myself (joined in May 2020). I made my first investment purchase this past October!

One of the key factors in getting to the point of actual making an investment was my Masterminds group I was connected with after becoming a BP Pro member. We meet weekly and discuss what we are learning and how our journeys are going!

For my first property, I went the turnkey route as I felt like this was my best option while working full-time as an engineer.

If you have any specific questions about my experience, I would love to talk more!

Good luck on your journey!

Originally posted by @Joseph Schweizer :

Hi @Nate Patrick!

Welcome to BP! I am fairly new to BP myself (joined in May 2020). I made my first investment purchase this past October!

One of the key factors in getting to the point of actual making an investment was my Masterminds group I was connected with after becoming a BP Pro member. We meet weekly and discuss what we are learning and how our journeys are going!

For my first property, I went the turnkey route as I felt like this was my best option while working full-time as an engineer.

If you have any specific questions about my experience, I would love to talk more!

Good luck on your journey!

Thanks Joseph!  I am curious what the Masterminds group is about.  I'm not sure it's in my budget yet to go Pro, but looking at what I can do to consider it if it will really help me get started in investing.  You think it was helpful it sounds like.

 

@Nate Patrick

When you sign up for Pro membership, you a matched with a group of other Pro members for a masterminds group. I may have been lucky, but my group is fantastic. There is four of us who get on a zoom call every week (for the most part, schedules conflict sometimes) and we discuss new things we have learned, how our investments are going, we discuss issues/concerns, and then we identify goals to complete by the next meeting. My group has been very beneficial to me. I do not know if this will be every group, but mine has been invaluable for me.

Hey Nate, There is no reason to be hard on yourself for taking the time to jump into real estate. There are two kinds of great deals the good ones that you purchase and the bad ones that you dont. One thing that may be beneficial for you..

With your liquid cash you can fund a life insurance policy (I know it sounds crazy) (I dont recommend pulling capital from other investments though because its important to not over-leverage).... the account I'm talking about will be safe from economic downturns and it will grow at about 7% on average TAX-FREE. That way you are being "a good steward of what you have" taking the "talents" you have and growing them while protecting them at the same time. When you are ready to purchase a property, All you have to do is take a policy loan out on your own money, and you can pay cash for the property. The cool thing tho, is that because it's only a loan you are still netting your interest rate on the entire amount, even when you deploy that capital to fund your real estate.

If you decide to invest in SWFL or want to talk about the tax-free fund reach out!

ps. Im not trying to sell you, ill give you what I know for free, but don't just take the idea and run with it, because it's easy to mess it up by structuring it wrong.

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