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Updated over 4 years ago on . Most recent reply
Any "Afford Anything" Devotees? Question on new course!
Hi, BP family! I'm just starting out and came to BP by way of Afford Anything, which I've been listening to somewhat obsessively since about December. Paula from Afford Anything just came out with her Your First Rental Property Course and I'm trying to decide if I should enroll.
Pros:
- Supposed to be well-vetted and effective after going through two dry runs
- The weekly work and accountability will help keep me moving and shake my analysis paralysis (which has set in over the LLC question and I've since focused my energy on my other side hustle)
- Similarly, Paula seems to have an approach of "Buy what you can comfortable afford, pay it off, then get another." That strategy resonates SO much more with me than the very aggressive methods I've seen and heard around here. I don't know that BRRRR and using OPM (other people's money) is something I'm going to be comfortable with... and if it is, probably not for the first one.
- I'd really like to pull the trigger this season so I can have something set up nicely by the end of summer, so the timing is great! Course starts 4/15 and ends around 6/21. Perfect timing for me.
- There are NO meetups in my area at all (BP, ChooseFI, nothing) where I could get this knowledge in person in another give-and-take Q&A style.
Cons:
- Cost! $1000 is steep. Especially with no spouse / partner to help break it up. I have the money but was going to use that money to open a Roth IRA next week, actually.
- I joined BP Pro 2-3 weeks ago after my first webinar because I do find them super helpful. I wonder about whether Paula's info is going to be anything I couldn't get here or somewhere else. Generally I'm super frugal and the idea of paying money for information I can get for free / less expensive elsewhere makes me cringe. However, even watching the webinars I can still fall into analysis paralysis and letting other things take up my time.
- As much as I WANT to buy my first property this spring/summer (I'm looking in Huntsville, AL and live in Virginia), I only have about $20k I can put toward this. Maybe the timing is wrong and I should just wait because I don't have enough.
Is anyone else a fan of AA? Is anyone in this community thinking about enrolling in her course? Definitely planning to do it? Thought about it and decided against it? Definitely not attending?
Thanks so much for sharing your thoughts! Time to tune in to today's webinar :)
-Barb
Most Popular Reply
Just to chime in— I took the course as well. Mostly to have a structured way to think about the information I needed. BP is great but only if you know exactly what you’re looking for. Otherwise you fall into a trap of moving ahead with lots of blind spots.
I go back to the course material very often and have found it useful for the hidden/ obscure questions that sometimes come up.
That said, I’ve augmented the course with just about all the BP published books (Especially Brandon Turner and J Scott’s books) and asking questions or reading the forums here.
Your first property will probably be upwards of a $100k investment. Spending 1% of that to learn how to do this properly seems reasonable.
At most I learn a lot and augment my knowledge. At worst, I learn a little and still augment my knowledge.