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Updated over 17 years ago,
Getting Started in San Diego
Hello All!
I have been reading in the forums for a couple of weeks now. Here is my story:
I am 34, a wife and mother of a 16mo old daughter, and work as the CFO for a small real estate development company in San Diego that specializes in small tract development. I started my career in 1996 in public accounting and worked for two of the Big Four and a large local firm. The company I presently work for was one of my clients at the large local and I have worked here for about 3 1/2 years. In public accounting, I always specialized in real estate and worked on the tax side of the business. I consulted many real estate owners on 1031 exchanges and tax planning as it relates to the real estate business. I even helped write (with no author credit) an internal guide when I worked with one of the Big Four for the leading guy of the firm in San Fran that specialized in 1031 (I was low on chargeable hours and needed a project). So needless to say, I have already afforded myself a great education in the land of real estate.
I recently, Finally, read Rich Dad Poor Dad by Kiyosaki. I had heard about this book for years but have always been the skeptical accountant steering clear of gurus and the like. Well, I have to say that this book awoke a sleeping giant within me! It has motivated and helped me realize that I have had the knowledge and tools to some extent all this time but was more focused on just being a good employee, finding a husband, getting married, buying a house and having a baby. And, I probably will be looking at expanding our family by one more after the first of the year. Well, I am now motivated more than ever to get going on building wealth.
So, I have some education under my belt in some areas but am looking at how to start small and to start using what I have learned. Obviously, the tax knowledge I have will help once we own, but I need to learn how to find the deals. I intend on going to the local real estate investment club meeting in a couple of weeks and start networking, but I have no idea where to start to research what area I would like to specialize in. I am looking for some guidance on any type of book or program that will give me a good overview of different areas (i.e. wholesaling, bird-dogging, short sales, pre-foreclosure, notes, etc.) so that I can see if one of them seems appealing to me. But, as you seasoned investors already probably know, the amount of information on the internet and in book stores is overwhelming! Although I don't mind spending some money to get good information, and I definitely intend on frequenting this site and reading as much as I can, I would love some recommendations. Also, based on the fact that I live in a higher priced market and now that you know my background, maybe some of you have some suggestions of what you think I might be good at or would possibly find some interest in.
Sorry for the long post, but I am eager to start narrowing down the focus of my research and get moving. My husband works for the same company as I and he is a licensed real estate agent. Oh, and I am a licensed CPA.
My goal is to have enough in five to eight years to not have to be employees anymore. We will have cash after the first of the year, probably about 50K to use, but of course are also interested in learning how to use OPM as well to leverage the best as possible.
Any advise would be greatly appreciated!
Thanks in advance!