Hello from Central Texas

[Leland Barrow]

Good morning BP! I have used BP as a resource over the past few years but never really engaged the community. I used to be a news junkie so part of my morning routine was reading the news. I decided recently that starting my morning reading mostly about what was wrong with the world was not the best way to start my day. So I am substituting that for interacting on BP.

I am an entry level investor. My wife and I moved to San Marcos Texas to be near the I35 corridor and what I am predicting this will be one of the hottest areas over the next 10-20 years. Selma, Schertz, SM, Kyle, Buda, Round Rock, Pflugerville, New Braunfels, and Canyon Lake are just a few of the areas that I think will be hot for some time (shameless keyword plug).

I grew up in California and I see some very telling similarities between Los Angeles suburbs and the suburbs around Austin and San Antonio. The corridor between San Diego and Los Angeles and the I35 corridor in particular. I also think that the contraction in petroleum production in Texas is going to turn the market from a sellers market to a buyers. Rising waters raise all boats but receding waters can beach more than those that are docked.  

Enough of the silliness. I have two real estate deals under my belt. I flipped ten acres of land  for twice what I paid for it. I am a disabled veteran so I used the Texas VLB. Then we purchased our first rental in the Austin area and it is cash flow positive and gained equity in it fairly quickly. I finally feel like I have momentum and want to keep it up by adding another rental this year and at least two next year. I personally want to focus on LBH, because I have a good career and I want to invest in real estate for the benefit of my three daughters. However, I love anything that is a good deal and I will adapt to any strategy. I was a 82nd airborne paratrooper in the military so I learned one important lesson about life "whether you are afraid or not, run for the door and jump with your eyes open".

I am not looking for a mentor but I would be very open to a partner. Someone with moderate resources like myself, that enjoys hard work, and absolutely hates to lose would be ideal. I would also be open to doing the grunt work for out-of-state investors if the situation was right. I think I will be good at building a real estate portfolio not because I need to do it, but instead because I am passionate about it, and hungry for it. I have all daughters and my oldest is 9, she knows how to do baseboards, trim, tile, and use power tools. I want to teach all of my daughters the important things in life, like the importance of a persons mindset about what they can accomplish and how hard work is its own reward beyond the monetary return.

Wealth is a consequence of passion properly executed.

You can quote me on that. At least I hope I have not plagiarized that. Hopefully this post comes across as slightly humorous and not narcissistic nonsense.