Hello Everybody - AR, WY, MT, WA, ID

[Matthew Branton]

Hi everybody,  Looking to get started in real estate with about 250k in startup capital. Cash Flow, Buy and Hold, and maybe Land. 

I'm 30, I love to ski and flyfish. Studied economics in college so I feel comfortable with the concepts involved here if not the mechanics. Suck at introductions. 

I really appreciate this resource, just having listened to the podcasts, and can't wait to get started. 

I'm currently based in Little Rock and Laramie Wyoming, but my target markets are flexible. I can move, or would do out of state investing. Ideally in the mountain west or pacific northwest. I have a couple of ideas in terms of deals, but I still feel like I have a lot more to learn before I jump in. 

I have a background in design both lighting and scenic for television... as well as the craftsmanship/contracting behind it... so I feel like I can bring a bit of a competitive advantage to bear in terms of value added. I don't know, I guess we'll find out... can't wait to meet everyone.

[Paul Thompson]

@Matthew Branton

welcome to the community and to real estate investing. REI can really open a lot of possibilities and offers serious opportunity in your life. I suggest honing in on "why" you want to do REI and what you want to get out of it before focusing on the mechanics of investing. And by that I mean hand write your goals, philosophy, and plan. I mean seriously hand write your plan. You can brain storm on a word processor or whiteboard or whatever to get your thoughts out. But then when you feel you have goals figured out write them down. Then challenge your reasons by asking yourself "why" seven times and write your answer down. Why do I want to be rich, why do I want to be financially free, why do I want quit my day job, why do you not like your job, why do I not want to go back to LA, why is real estate investing different, why is being in charge important to me, why etc.... This will help you determine your REAL reasons. I heard a local REI recently say something I really liked. He said "start with you and build your job/career/business around yourself instead of choosing a job/career/business and fitting your life around it"-- paraphrased

Now to the mechanics of REI. I suggest you focus on a place. Whether it be where you are now or where you are going to be or whereever there seems to be lots of potential. REI is tough (not impossible) from a distance, especially when you're new. So pick a place and focus on it. I don't suggest sprinkling your properties out all over creation because this business is so location dependent. Spend some time to learn the area you are going to invest in and then own it, dominate it, and control it before moving on to another area.

While in Arkansas feel free to shoot me a line. I have recently learned the above lessons and acting out my action plan and would be happy to brainstorm with you.

Cheers!

Paul