New and Motivated

[Marc Seidenstein]

Good morning all, and thank you for taking the time to read my first post here on BP. My name is Marc Seidenstein, a 29 year old automotive salesman also working part time in the fine dining industry as a waiter, living in the New Jersey shore area. I currently put in 80+ hour work weeks while living with family, and should be able to save $50K over the next year to year and a half to enter into real estate investment with.

Currently I am just doing my preliminary research to get an idea of if real estate investing really is for me. From what I've read and learned so far I feel it's a natural fit for me to move into (hopefully full time eventually) from the auto sales industry. Motivation and self-starting are extremely important in my current career, as I would imagine they are in real estate.

Of course we all begin with grand ideas of making millions, retiring to a big house on the beach (or in my case, a Victorian mansion deep in the woods), and living the good life. Though I am able to keep my dreams small for the meantime, I do not have any desire to be the guy who owns 4 or 5 rental properties to provide a small addition to his income at a 40+ hour a week job. If I do eventually take the plunge into this business, it will be with ideas of making it a full time endeavor after 8-10 years in the business.

For now, my short term goal is rather up in the air. The first property may be a buy and hold single family with an FHA loan, a relatively affordable multi-family unit in which I would take up residence in one of the units, a rehab, a flip.... I'm not entirely sure just yet. I will take the next year to learn as much as possible, network and make connections, improve my credit score and stash away cash for that first deal.

I thank everyone in advance for any advice they may provide for me on BP. From what I've already seen there is a wealth of information to be had here, and I look forward to immersing myself fully in this business.

[Bob Lanzrath]

Marc - good luck to you. I just joined Bigger Pockets in the last week as getting into this real estate thing hopefully in the next 6 months so right there with you with the plethora of knowledge and the many opportunities. Bob