Relatively new investor in State College, PA

[Liam Goble]

Hey all, I'm a relatively new investor in the State College, PA area (home of Penn State). I've been using BP for about three months since I found it from Pete at Mr. Money Mustache and simultaneously from a Google search for "50% rule".

I'm a contractor by day (current focus is insulation/air sealing and mechanical systems), but my goal is to be financially independent by 2017 at the latest. I established that goal prior to my knowledge of BP and the ability of investors to significantly speed up financial goals. I'm driving hard with a rather singular focus on my goal.

I want to be financially independent by 2017 for three reasons: 1) my daughter will be 5 and I want to be around for her as she is growing up, 2) I want to hike the Appalachian Trail with my dad and 3) I've learned that life can be very short and I want to experience so much of what this awesome planet has to offer.

After running all the numbers, short of catching one of those crazy dot com stocks in the late 90's (and selling before it's too late) or starting something like FaceBook (or probably Bigger Pockets!?!), I think REI is the way to go.

I feel that 2014 will really show me if it is possible to exceed my previously stated goal. Most of my purchases have been by using equity or personal cash positions. I plan to work with more investors and branch out from my current fix-and-hold MO to include some flips. Because of investors, I should be closing on Flip #1 by Feb 7.

My buy-and-hold strategy has had me purchasing local SFH and small MF properties. I am intrigued by @Ali Boone and @Mehran Kamari's posts and podcast and am currently considering buy-and-hold investing outside of my local market for slightly better return than the local market. I'm just trying to find more information about exactly HOW to accomplish out-of-the-area investments.

I think BP is awesome and it's so nice to be 'surrounded' by like minded people. Most of my colleagues and friends think I'm crazy, foolish and on the wrong track. My family (parents and siblings) have finally come to terms with my plans; my wife is entirely on board, so long as I'm home for dinner. I've come to realize that my colleagues and friends simply don't have the right mind set for real estate investment -- even though they have no problems investing in the stock market. I really take comfort knowing there is an entire community that doesn't think I'm crazy.