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Updated over 3 years ago on . Most recent reply

User Stats

5
Posts
5
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Dustin Schoonmaker
  • Follansbee, WV
5
Votes |
5
Posts

Newbie from Weirton, West Virginia

Dustin Schoonmaker
  • Follansbee, WV
Posted
Hey guys! I'm new to bigger pockets and wanted to introduce myself! I have been interested in real estate for about 4 years now and it has grown into something I've become passionate about and I really believe it can change my life. I am 28 yrs old and have an accounting degree and an MBA. I'm fantastic with numbers and I like to think outside the box. I'm located about 40 mins outside of Pittsburgh pa. My first experience with real estate turned out to be one hell of a costly lesson. I didn't know a thing about it and I decided to attend some seminars to see what it was about. After a few of them I though it was something I could excel at. I got suckered into learning from a guru and flew out to California for some hands on education . The knowledge I learned was very helpful and I thought I was on the right path. I had decided to get into a deal with an investor who worked with my guru mentor but I didn't do my due diligence because, in all honesty, I didn't know any better. It's safe to say that someone saw an eager new investor to take advantage of and when all was said and done I got hit for about a 50k loss. Now that's one expensive lesson!! That hit hurt, it knocked me to my knees and I sat and wondered how'd I'd ever get out of the whole without ruining my credit and filing bankruptcy. Luckily, my love of the outdoors would save my ***! I was able to invest in some land which I intended to use for hunting. About 3 years after investing in the property, the natural gas and oil boom moved into my area, and I was able to get a fat check from leasing my mineral rights. I pulled enough money to be able to pay off my debt and climb back out of my whole. Unfortunately I hit a snag after that. I had quit my job at the bank as a commercial loan officer because I've know that I want to work for myself. I had started up a business which I am currently in my 4th year of. I've been able to nearly double my income each of the first 3 years, starting at about 18k to 36k to 50k to hopefully around 60-70 this year. I've been able to save money and bought a house which I'm living in and believe I can flip in a couple years and make a nice profit on. Building my business has been an amazing experience and has taught me so much! I've totally changed my way of thinking and continue to do so through consistent reading and self education. I know what being successful takes now and I know that only I can stop myself. I've decided it's time to get back after my dream of real estate investing. I've been reading and looking over old notes and trying to expand my network and find opportunities. I actually have a meeting today with a friend whom has built an extremely successful real estate business and I'm going to ask for his help. Calling him and setting up a meeting took some courage for me but I knew it had to be done. I'm excited to learn from his knowledge of my local market and the advice he can give me to get me on the right track. Hopefully it goes well and a mentor relationship can build from it. Anyways that's a little about me and where I'm at as of now. I look forward to becoming active on BG and meeting tons of new people, and continuing to learn and chase after my dream. Thanks guys! - Dustin

Most Popular Reply

User Stats

5
Posts
5
Votes
Dustin Schoonmaker
  • Follansbee, WV
5
Votes |
5
Posts
Dustin Schoonmaker
  • Follansbee, WV
Replied

Thank you all! Its a pleasure! I look forward to getting to know you all better and thanks for the advice and tips! @paul timmins

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