Newbie introduction from Sacramento, CA

Newbie introduction from Sacramento, CA

Sacramento, CA · Member since 2015 · 34 posts · 10 votes

Hi everyone,

I'm at work where I tend to listen to Bigger Pockets podcasts and they of course encourage you to introduce yourself. So, trying to be more in action and not just lurking, here I go.

I found this site after listening to Lisa Phillips. Her stategy mirrors something that interests me. I think you can help communities and invest at the same time at a high profitable level. 

I really hadn't considered investing in real estate all that much until some life changes forced me to seriously consider how to be responsible for my financial life. I decided that cash flow was very important to me and began researching methods for creating cash flow while preserving/maintaining my net worth. That just led me to real estate. From there started listening to Rich Dad Poor Dad on youtube and somehow found Lisa there as well. Listening to Lisa led me here.

So I decided that 2015 was my year. Like lots of people, fear can stall a person so I broke down my plan into quarter plans. I knew I needed some education, some tools. So I am researching and gather data the first quarter of this year, while also creating my business plan. My 2nd quarter goal is more action driven, where I will be actively looking for a deal to move on. If all goes well, I will own my first buy and hold before the 3rd quarter.

My first quarter plan is still important. I'm putting together spreadsheets, using some example deals to practice reading them. Looking for my "team" or at least the first few players in there while also reading and learning other real estate info, like Bigger Pockets. If I were building any other business, I know you can't just jump and open up shop, so I am trying to treat this exactly the same. Put my systems in place, then open the doors. 

Every night my eyes hurt from reading and looking stuff up. But my vision on what my business is grows clearer. I'm excited. I'm scared but I'm sticking with it.

Anyway, look forward to more years here. I appreciate reading everything and I will participate and not just lurk (although lurking through past forums and blogs is fascinating!).

Thank you all1

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Investor · San Jose, CA · Member since 2014 · 8 posts · 3 votes
11y

Hi Kelly, welcome. I'm in a similar position, learning a lot and planning to hit the ground running this year. I'm moments away from closing my first deal in Orangevale. Rehab & hold. Cheers!

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  • Investor · Fort Wayne, IN · Member since 2014 · 1k+ posts · 515 votes
    11y

    @Kelly Foydl Welcome to BP!, You will find the educational tools and support you need if you look around and network. There is money to be made by improving neighborhoods. It is a win-win-win, in a win for you, a win for the neighborhood (and city) and a win for the homeowner or end buyer in having quality affordable housing. Let me know if I can give you can advice or help.

  • Investor · San Jose, CA · Member since 2014 · 8 posts · 3 votes
    11y

    Hi Kelly, welcome. I'm in a similar position, learning a lot and planning to hit the ground running this year. I'm moments away from closing my first deal in Orangevale. Rehab & hold. Cheers!

  • Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
    11y

    @Kelly Foydl 

    Hi and welcome to BP!  Providing nice places to live and improving communities is important to me as an investor.  So rock on with your plan.

  • Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    11y

    @Kelly Foydl 

    Welcome.

    Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

    Consider checking out HUD homes for small multi's owner occupied gets first crack.

    Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

    http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

    Good luck

    Paul

  • Real Estate Investor · Carmichael, CA · Member since 2015 · 5 posts · 3 votes
    11y
    Kelly Foydl Welcome, I am also located in Sacramento and share a similar story. I am looking to purchase my first multi-family unit with my husband in the 2nd quarter of this year in the area. Thank you for sharing your story. Much success to you on your journey!
  • Sacramento, CA · Member since 2015 · 34 posts · 10 votes
    11y

    thank you all for the nice welcome!

    @Paul Timmins

    I'm currently reading the Ultimate beginners guide via BP, but I will absolutely look at reading both of those as well. Thank you! And I've just started glancing around for some groups to join here locally, so great idea. 

    @Melanie O. 

    Orangevale, awesome. Hope it goes great!

  • Novato, CA · Member since 2013 · 52 posts · 28 votes
    11y

    Welcome, Kelly. I, too, and fairly new to BP. It has proven to be a fabulous source of support and valuable information. I have the good fortune to work for Brian Burke...so I get the little pearls each and every day!

  • Rental Property Investor · Sacramento, CA · Member since 2011 · 2k+ posts · 1k+ votes
    11y

    @Kelly Foydl Hello,

    You sound like you're going to make it big. Stay with it!

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