Happy to have Found BP!

[Miles Williams]

My Name is Miles, currently living in Arlington (DFW Area), I've always had intentions of at some point getting into real estate, now at 40, and finally at a place financially that it is feasible, I'm planning on spending the next 6-8 months learning all I can (and then rest of my life continuing learning lol) before taking the FIRST plunge. Initially I really wanted to do a STR down in North Padre Texas (as it is a place I have vacationed for years and have stayed in at least 8-10 of the STR in the exact complex im looking into, I see how my STR could stand out amongst the rest since Im huge fisherman down there and that is mainly what those STR are used as, already have boat rental option setup if I go this route, list of fishing and possible guides to go with depending on style of fishing, family, fun, hardcore wade fisherman etc etc and equipment rental available for those that do not have.), the places im looking at are decent $ properties that after running through calculators etc showing 18-22% CoC after management fees etc.

But after listening to BP for about a month, now thinking BRRRR possibly and doing up here in the DFW area. In the end I plan on a diversified portfolio. So I'm still on the fence for this first one. By Mid 2025 I will have 50k ready to go. In the mean time just hear to learn as much as I can and really layout game plan for my first property. Anyways, Cheers yall! Glad to be here and ready to learn!

[Jonathan Greene]

It's good that you have two ideas to start with. Of those two, I actually like the first one better because you have a competitive advantage to that market and the amenities you could provide. But since you are new and learning, don't decide on what it has to be. Get out and meet some other investors at meetups and that will help you curate what some of those ideas would be like in real life, with the input of others who have done it.