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Updated over 6 years ago,
New Investor from Salt Lake City, Utah. Very excited to learn!
Hey guys! My journey into real estate has just begun. I'm on the tail end of a two year "career break" where I resigned from a government job to travel the world. I had achieved the American Dream, but was unfulfilled. I had saved a large portion of my paychecks, and I'm pretty sure I can return to my former career if I would like to. I learned so much while traveling. I met some amazing people who told me about their financial independence through real estate. After getting over the jealousy phase, I asked them how they did it and where I could start after reading Rich Dad Poor Dad. I've since read Cash Flow quadrant and have attended a couple local real estate meetups. The meetups were selling the Renatus education system, but I'm getting a pretty bad feeling about it, so I'll stick with learning what I can from here and other less expensive resources. I've made some audacious goals of reaching financial independence in 2-3 years, so let's start creating value!
I am interested in the BRRR Strategy, long term holding for cashflow, house hacking my first deal, and developing quality relationships with good people who will help me improve as a human being. I can't help but think that the entire market, or at least my market in Utah, is VERY OVERVALUED! I know I can't time the market, but my current plan is to spend as much time as I can reading and educating myself, while waiting for the market to return to equilibrium. I know that I could be waiting a long time. I've spent several months studying the 2008 financial crisis, the policies of the federal reserve, and what money actually is. This has lead me to strongly believe that Bitcoin, and a few other blockchain projects will become increasingly popular over time. Bitcoin is currently being considered property, does that mean that I could potentially use a 1031 exchange to sell BTC and buy my first deal?
I've been continuing to ask the question: What can I do to create value? So if there is anyone here located in Utah that could use some help, please let me know what I can do.