Maryland girl on the hunt for more knowledge and FI

[Morgan Granetz]

Hello BP world!

I am excited to have found such a fantastic resource as I continue on my journey to FI through real estate.

I am currently based in Maryland but previously owned property in Virginia. I scored my first deal in late 2020, right before the housing market boom. I bought the home as a primary residence with the intention of living in it for a year and then renting it out. When it came time to follow through on my plan of turning it into a rental, I noticed that the houses in my neighborhood were selling for far more than what they were worth. I thought long and hard trying to make the numbers work so I could keep the property but at the end of the day, it made more sense to sell. I owned the home for a total of 15 months and managed to walk away with 90k.

The entire experience was surreal. I felt like a deer in the headlights while I was buying it but came out feeling like I had accomplished something huge. I bought low and sold high. Such a simple concept, right? Once I came down from that high, I realized that there is much more that goes along with real estate than I originally thought. Just because I lucked into a good deal doesn’t mean they will all be that easy. I pumped the brakes on pursuing another purchase and started educating myself with books, podcasts, etc. I wanted to narrow down what my main focus should be. My end goal is to be financially independent through real restate but I need to tackle how to get there.

With that said, there is something about the interest rates spiking that has my wheel turning. I am becoming more and more eager to jump in while everyone is backing out. To make a long story short, I have set a goal for myself to close on another property within 90 days (a few months before I turn 30)! I am absorbing as much information as possible while I begin my search. I really value the insight from the seasoned investors on this site, especially those willing to offer words of wisdom to beginners like myself. I am looking forward to learning more from this community and plan on posting an update when I sign those closing docs!

Looking forward to connecting with anyone and everyone!

Morgan