Hey BP! New investor from Anaheim looking to build connections.

[Warren Doller]

  Hi BP I'm Warren. I'm a tax accountant and a beginning investor. A coworker introduced me to the podcast, and I am super grateful. I like how accessible the podcast is for a beginner!

  My only personal exposure to real estate has been through RE finance classes during undergrad studies at CSUF. Since graduating I have been saving and learning about different investments. I live in an expensive housing market, so I didn't really see real estate as a possibility (especially over the last couple years). I've become more excited about the idea after learning that I could invest outside the market where I live.  My eyes were never open to this before. 

  I'm currently getting educated on how to go about purchasing my first income property while I continue saving up. At this point my goal is to purchase a multi family rental property within 6 - 8 months that will generate 100-200 per unit in fcf. I've analyzed properties in various markets, and its clear that certain markets outside of CA have a better chance of helping me reach that goal. Obviously this poses its own set of challenges, but I'm already starting to learn how to go about it the right way. I also contacted a lender this week just to know what qualify for well ahead of time.

  When I'm not at work I'm either at the gym, cooking, or working more from home. Prior to working in corporate tax I was a site coordinator for the VITA program in Orange County (which i will plug to everyone in another post) where i prepared individual taxes for a few years. 

  I look forward to learning more from being part of the Bigger Pockets community and building professional connections outside of the OC bubble.

[Warren Doller]

Thanks for the welcomes everybody! @Mosun Mah @Mark Nolan @Ramon Jenkins

@Joe Fairless Hi Joe! fcf = 'free cash flows.' the term is common in finance when working with valuation models, or finding the present value of an asset based on those "free cash flows". It is basically your  net cash flow, adding back non cash expenses (depreciation), less any reinvestment or increases in working capital. I plan on reinvesting in the rental properties where needed, so my goal is to have the stated cash flows after considering the reserve I should be building for any necessary capital expenditures . Basically, I'd like to achieve at least a $100 cash flow per unit/mo after taking into account any funds I should be reinvesting or holding for major capital expenditures. Is it typical to already build this into your net operating income number when analyzing a properties cash flows?