Newbie Investor from Austin, TX

[Cody Cook]

Hi All,

I'm long time reader/listener and recently new PRO member of Bigger Pockets!

I grew up in Houston but have been living in Austin the past 5 years (minus a 2 year expat assignment in Singapore). I have a background in IT and Accounting and currently work as a Director of Compliance for a global manufacturing company. I enjoy my job, but my true passion is real estate. I'm constantly reading books, looking at the market, and driving for dollars among other things. My primary goal is to achieve financial independence and be able to avoid the 9-5 job requirement. I want to be in charge of my own schedule. I could see myself pursuing real estate full time down the line, but am not sure yet. 

My real estate experience includes previously owning and managing a property in College Station, TX, which is where I really got the real estate bug. I bought my first primary home in Austin 4 years ago with the intent to hold and rent long-term, and I'm currently in the process of transitioning it now!

Overall, I love all the information available on BP and am amazed by the knowledge of the users in this forum. I'm excited to join the network!

Cheers,

Cody

[Michael Lee]

Hello and welcome to BP!  You sound like you in a good place and have a little experience.  You will probably be a good full time investor because of your background.  I was born and raised in Dallas Texas and had a few friends that moved to Austin but none of them is into real estate.  

Your military background along with accounting should work well for you.  I have heard that making mistakes and having fear are pretty normal so do not be afraid of doing that.  Always do the math analysis on prospect properties and try to look at the subject property before you make  an offer or at least have a clause in the sales contract that gives you some time (usually about 15 days) to make an inspection and possibly back out of the deal without a penalty that hurts you.

I also went to college, not that it is mandatory, and I got a business degree that emphasized real estate.  Since I was in Texas and planned on staying there I found out that I was qualified to take a test for a broker license so I took the test and got my license but have never done that full time.

Regardless of what I had I felt more comfortable with the construction business.  I have been in the construction-related business since I was 17 including those college years.  I kept my broker license active for about 30 years.  I closed a few deals for other people and have only done one investment deal for myself.  If you feel like I could help you with anything please contact me through BP at any time.  Good luck to you!