Fell into landlord ship, now diving into REI!

[Matt Huber]

Hello BP community!

My wife and I are investing newbies in Sacramento, CA. It all started when we decided to purchase a larger home amid the pandemic lockdown. For reasons that were more emotional than rational*, we decided to keep the old house as a rental. In my search for advice on the facets of landlordship, a friend recommended I check out the BP forums. Indeed, the people of the forums were extremely helpful.

Fast forward a few months: the tenants are great, but we have become aware that one barely-cashflowing SFR is no way to achieve financial independence. (Not within our investment horizon, anyhow!) I mean, we have good jobs that we like, but we want to get some of our time back. So we've decided to build passive income. And we think real estate might be a good way to do that. So I started digging deeper in BP.

So here I am. I've read How to Invest in Real Estate and I've got a good start on Set for Life and Long Distance REI. I've listened to goodness knows how many BP podcasts (love Real Estate Rookie!) and watched several webinars. Last weekend my wife and I did some driving for dollars with Deal Machine in our own area. We continue to learn and hone in on our niche. We're thinking long-distance duplexes or single family BRRRR projects would be the way for us to start.

I guess you could say that  I'm no stranger to a lot of this material. I read all of the Rich Dad books after college (17 years ago! eek!) And the Millionaire Next Door. And others. I guess I fell off the rails somewhere in the mid-aughts. Happy to be back on the train and looking forward to our first real deal as part of this community.

*Lots of blood, sweat and tears went into the rehab of this house. I guess we unknowingly did our first live-in rehab-rent-almost flip. We're planning to sell it when the lease is up to unleash that trapped capital.