Newbie Real Estate Investor in Tulsa, Oklahoma

[Account Closed]

First thing i like to say,Thank you BP community, @Joshua Dorkin, and @Brandon Turner for putting  this  site together. Also thank you too all the great guest that was on the Bigger pockets Podcast. I learn a lot from all the materials you guys showed me and I really do appreciated it!

This site has so much valuable information and the community here is awesome!  I love all the articles here and cant forget the podcast that led me here (I listen all the ones up to 52 and still going). All the books i bought so far was recommend off BP. 

I sorry in advance for the long introduction about me, but i wanting to make sure that my goals were clear and that I can find others with the same interest/goals as me and we can work/help with each other. I hope you guys take the time for the read and I look forwarded to meeting everyone else also!

About Me:

My names Tennon. I'm 22 years young and live in Tulsa, Oklahoma. I been at my job for almost 4 years, this coming June will make it 4 years and yes this is my first real job (LOL i know that's sad I only had one job) I been there since I was 18.

I'm new and VERY interested in Real Estate. I'm highly motivated in moving forward in Real Estate, but need some help. I been reading many books on Real Estate, but been having some trouble staying focus while working a lot of over time every week to build money, so that brought me to Bigger Pockets forum to build my network, learn from other investors, and also find potential partners. 

I want to try to find someone to hold me accountable on building my knowledge on the subject and help me to keep focus on moving forward on making that first deal and of course deals in the future! I look forward to meeting new people on here and see what the future holds for me in Real Estate.

Goals and Issues:

So far I been looking into getting into "Buy And Hold" property's for multi-family houses and I want this to be my main focus, but like many other investors mention before, "I get distracted by the shining objects" and that perfectly describes my dilemma here. I have read multiple articles and books on "Buy and hold" properties . With that being said, I like to mention I have a issue with lack of money( I'm slowly saving up), but I do have good credit, at least for how long I been building it for ( only 3 to 4 years)

I have read there is a lot of creative ways to obtain these properties with little or low money of yours into them and I should just focus on one niche, but still I have a interested in "Flipping Houses"  for single family homes. I want to gain a lot more capitol and in return obtain more "Buy and Hold Properties". 

I want to have a lot more positive income stream and with all the extra units I can obtain by using all the cash gain from flipping I can use multiple down payments on multiple "Buy and Hold Properties".

The downfall of me trying to do flipping is it requires a lot of time. With me working nights, 54-60 hour hour week and some up to 80 hours I imagine that can be a little tough. That's why i think a partner would be a good situation here.

I would like to work with other investors in any of these fields and get first hand experience and see how they approach their niche and strategy if their nice enough to share :)

I'm probably getting way ahead of myself with not even doing my first deal yet.. Just right now my issue is which way  should I approach real estate, coming with a well though plan and not having someone watch over me.

My Big "WHY"

Have multiple high positive income stream, so I can be financially free and I can have more time time to see family/friends, find the things i enjoy, travel around the world and make a difference in this world.

Thank you for your time for reading this post and getting to know me. 

It would really mean a lot to me to get to meet a experience real estate investor who been in the business for awhile or even if your're new It would be nice to share goals with each other. I'm really interested and i'm sure ill have lots of questions :)

[Fred Ramos]

Hello @Account Closed. looks to me like you have a clear idea as to where you want to get to. The key now is to stick to your plan. Forget the "shiny" objects, they can come later. i always have to remind myself that I would rather have a house rather than a new car (both about the same amount in monthly payment but at least a house will pay me where a new car won't). 

I wish I would have known at 22 what I know now. heck, i was interested in real estate in my twenties but, didn't act on it until my forties (Go Figure!). Anyway, my suggestion to you since it appears that you don't have much time for yourself due to work obligations and a little light on cash is this. Why not concentrate on purchasing a three or four-plex as your first property? My reasoning for this is two fold. One is that this will allow you to either live rent free or very close to it. With the right property, you should even be able to cash flow a little. Two is that this will allow you to grow quicker. by this i mean that instead of spending the extra cash you will have to buy shiny objects, pay yourself the rent (as you would to anyone else (No discounts!)) and let it grow along with your regular savings.

Doing the above will significantly cut the time between the purchase of your first property and the second. No magic here, just a little bit of discipline.

And lastly, Have you ever listened to Dave Ramsey on the radio? One of his phrases is "Live like no one else today so you can live like no one else tomorrow". Think about the meaning the of this phrase and determine what's really important to you.

I Wish you nothing but success.