BOOM! New kid on the block Santa Barbara, CA

[Dylan Teixeira]

Hello fellow dreamchasers! My name is Dylan Teixeira and i live in sunny, santa barbara, california. I am new to both BP and REI. I'm here to learn as much as i can and get the ball rolling. I know i have tons to learn but dont want to suffer from analysis paralysis, so hopefully BP can keep my head straight and focused on my goals. My goals being: To build enough income/cash flow to be able to quit my job asap. Save money money money to raise capital so that i can begin my business ventures/goals. Explore the country through real estate to learn where i want to settle down and raise a family. And ultimately to buy my parents a home in the paradise of their choosing.

What type of investing do i plan on doing? I DONT KNOW. All of it. Flip rent and wholesale. I recently joined my local REIA, so between that and BP i plan on finding all the answers to questions so that i may build my plan of action! :))

Thank you everybody in advance. I look forward to meeting you all and i hope to be of as much help as i know i'm about to receive in these coming times.

Peace.

[Robert L.]

Hi Dylan,

Welcome to BiggerPockets.
My Wife and I are also in Ventura County (like Cornelius and his Wife).
I've only been working on my RE investing business for 2 months now, but have learned that it is best to focus on one strategy to start with. Personally, I like Wholesaling because it forces you to learn many important aspects of REI (marketing, people skills, negotiations and of course, the numbers. If you don't have a good deal, then you'll learn pretty quickly what a good deal is, because no one will want it if it's not going to make money). But, it is a lot of hard work and dedication.

Be dedicated to the business for the long run. If you haven't already, figure out your "why" and it had better be a good one. 13 years ago, I got the motivation to invest in real estate and my "why" wasn't strong enough, so my motivation didn't last long. I was single at that time.
Now, my "why" is strong, my motivation is much stronger and I'm in it to win it.
Even in just 2 months, especially studying the current market, I've faced doubt a few times. I'm not letting it stop me though. I've been working the business about 15 hrs a week (spending anywhere from 2 - 4 hrs a night and a couple nights a week I do sleep a full night; I don't want to burnout) And with that perseverance, we have a potential deal in the works from word-of-mouth. My mother-in-law's friend referred us to a motivated seller. Isn't that Sweet?

Be sure to listen to all of the BP Podcasts, they may help you with your decision of what strategy to start with. Not to mention all the great information in them.
Depending on your situation, you may choose to Buy and Hold for cash flow, like Brandon. If so, be sure to join in on his periodic webinar on building long term wealth with multi-unit/multi-family dwellings.

Realistically, quitting your job should be your 3-5 year goal.
That is, if things go well for you.
But, if you don't like your job now, you may want to consider finding a job you do like and can be friendly to you receiving phone calls related to your REI business. It can help you with your REI.
Fortunately, for me, my job is a bit flexible and I can usually receive the random phone calls. The job has nothing to do with REI, besides me knowing the technology side of things (finding information).

I can't stress enough on the "WHY", why do you want to invest in real estate (not the "real estate is the best money maker" answer), have it in your face all the time. Since it sounds like you are single without kids, you don't have your why bugging everyday. So, make a dream board and hang it up where you're forced to see it at least once or twice daily.
You mentioned for your "WHY", quitting your job, settling down for a family, and traveling. So, build your dream board with a picture of a family, a dream home you would want to own and places you want to travel to.

Hopefully this reply is helpful, it's a collection/summary of what I've learned.

To your success