The Beginning
I am about 6 months in of actually taking real estate investing seriously. I've taken a few classes, attended REI meetings, networked, got business cards (no actual business yet...), sent out postcards, and almost completed a couple deals. Unfortunately, those fell through for reasons. One I lost because I scared myself out of the deal.
I am a new investor, in my mid-20s, in Colorado Springs, CO. I've got a girlfriend who is somewhat supportive of my endeavor, but doesn't get much about it. Family is way not on board and is being the protective parents they always have been, don't want to me to get hurt.
The reason for my investing is I've realized that my full-time job, in theatre, will never give me the financial freedom, let alone financial security, I am seeking. A quote in a book I'm reading goes similar to "Having money gives you positive options. Positive options to do what you want - to fulfill your life goals." This is what I want to do.
By the title of my blog you can probably guess this is my path to wholesaling. I'm starting with this strategy, as hard as it may be, because I don't have the funds to actually afford something bigger nor the time to ensure that a flip is going properly. My short term real estate goals are as follows:
1. Have done my first wholesale deal by my birthday, June 30.
2. Acquire the capital necessary for purchasing a fixer upper 2-4 plex. Use FHA financing, first time home buyer, and live in it for a year while fixing it and renting out the other part. Move on and repeat. Plan to complete this by the time I move from CO, in roughly 5 months.
3. Have the option to quit my job within 2 years and rely on my real estate investing
4. Within one year make 20k from some form of real estate investing.
I've got plenty more, real estate related and not. I'm continually adjusting my goals.
For now, this blog will be an update of what I'm doing and how things are going, with occasional opinions about whats going on in the market.
Comments