All Forum Posts by: Adam Miller

One of my favorite books is "Secrets of the Millionaire Mind" by T. Harv Ecker. It's in the same vain as Napoleon Hill, but much easier to read. A professor in college turned me on to this book. The premise of the book is to "re-set" your internal blueprint (or thermostat as he calls it) to understand why you are where you are, and what you can do to adjust it. 

I think this is a good "Starter" book for those who are not into financial thinking. It is not too long, an easy read, contains applicable success stories, and has some great ways to quickly turn-around your own frames of reference regarding money. 

This is one of the few book in my collection that I have read more than 5 times. I keep it next to my bed. 

http://www.amazon.com/Secrets-Millionaire-Mind-Mas...

Thank you everyone for the responses. I appreciate the responses!

It seems that looking into SFH may be the best approach for me. Now to focus on this aspect.

Chris D. - I live in Columbia. I see you are in this area too. Are you part of an REI club? It looks like there may be two in Columbia. Do you have a recommendation?

Greetings BP. I have lurked for a long time, trying to absorb as much as possible. I love this website, and recently upgraded to a pro membership. I have been reading/studying for almost 7 years, but I have not been able to pull the trigger and jump in. I feel like I am in a great spot to start, but there are so many options available (SFH, Wholesaling, MBH/Parks) that I don't know where to begin. Instead of continually agonizing over the best path, I am hoping that BP nation can offer suggestions on where they would begin if they were in my situation.

My Goals: Passive income (long term). I would like to quit my day job and focus on REI full time at some point. I want to create wealth through systematically investing. I prefer hands off and buy/hold strategies for the long term, but in the early days I am open to almost any path, as long as it allows me to work toward my long term goals. I would like to have my first REI transaction completed by the end of the year.

My Situation: I currently have a well paying job (for the market) that requires 50+ hours of work per week. I have a semi-flexible schedule, and am on the road about 2 days per week. Realistically, I could put aside $1500-$2000 per month toward my REI goals. In November I purchased my first home to live in (SFH - FHA Loan). Unfortunately, my down payment assistance fell apart at the last minute, so I had to deplete my savings to close. I live in SC, where SFH homes are relatively inexpensive, and MBH/MBH Parks are everywhere.

Originally, I wanted to do Lonnie Deals, but the SAFE Act has me scared off (for now). So if you were in my situation, where would you begin the process? Any recommendations you could offer would be great. In addition, any books you could recommend would be appreciated. Hopefully, one day I will be able to respond to threads like these, not start them.

- Adam

Greetings everyone. First of all, I only found this site a few months ago, but I absolutely love it. This is a wonderful site, and reading the posts has motivated me to get off the sideline and get into the action. I have spent the last 5+ years "waiting" on the right circumstances, but now I realize that the perfect deal wont fall in my lap unless I take control and start acting.

With that said, I need some advice on my first purchase. Right now I currently rent, but in reading "2 Years to a Million in Real Estate" by Matthew Martinez, he mentioned if he had it to do all over again, he would purchase a multi family unit and live in one. I think that may be the way to go for me. My question to the board: Does living in the unit affect how I should value the property? Should I place any value in the fact I may be saving $200+ a month in rent by making this move?

I have so many more questions, but I guess I should start there and not turn my first post into a book.

Thanks in advance.

- Adam