Newbie looking to network in Phoenix/Omaha

[Matt Yates]

Hello,

My name is Matt originally from Omaha and now residing in Sunny Arizona. I have been listening to the Bigger pockets podcasts and reading alot of the books for well over a year but seem to be in the analysis paralysis stage. I signed up for Bigger Pockets officially a while back but never posted anything. Yesterday I recieved a notification on my Gmail asking if I would like to unsubscribe from Bigger pockets(Um No!) So clearly I've been slacking. Well no more!

I have always had aspirations of owning multiple rentals but the barrier to entry always seemed too high.. However after hearing all the stories of people building themselves up with just a 9-5 and some drive I know it can be done. I know where there is a will there is a way. So I thought what better resource do I have but a forum full of experienced investors?

Now I'm a novice investor looking for advice/suggestions. However I do know buildings, remodeling and construction. I'm currently a Director of Engineering for a large Hospitality chain, I've done a bunch of handyman work and did about 10years of commercial construction however I know almost nothing about the financing end of things. I currently own one cash flowing rental property in Midwest with about 130k in equity and have had some significant appreciation with my primary residence in AZ(200k). So while I may not have a fat bank account I do have some money tied up in my properties and want to know how to put it to work for me.

I know quite a bit about buildings and work well with people however I could certainly use some coaching in leveraging and finding deals. Im hoping this forum can assist me with figuring some of these things out. If you are in my area or even if your not lets talk. Im definitely motivated and trying to make some things happen.

I would definitely love to get some feedback on leveraging my current assets to set me up to aquire more. I know of Helocs being a means to pull cash from a property but I'm not sure that will solve my problem. One issue I've came across in the past is debt to income ratio. I would like to get into some fix and flips or even a buy and hold multi family but I'm stumped. How do I use my equity to transition into that? I already have two mortgages and can't imagine I could get approved for a 3rd one. So what's the secret? Do I talk to a mortgage broker? Help a guy realize his dream of being an investor and give me some suggestions so I can take that initial first leap!

Thanks for reading and looking forward to hearing some responses!

[Justin Windham]

@Matt Yates

Welcome to the BP!

This is a great forum with very knowledgeable members that will help to guide you in the right direction.

The site has quite a few tools that can be helpful for new members. For example, if you are looking to connect with other members near you, want to learn from people in a specific area you’d like to invest in, or have a desire to find people interested in certain topics, you could use the search feature here: https://www.biggerpockets.com/search/users