New member from Newport News, Virginia

New member from Newport News, Virginia

Newport News, VA · Member since 2016 · 42 posts · 19 votes

Greetings BP!

I am a 24 year old welder currently residing in Newport News, VA. Welding pays the bills, but working 60-84 hours a week is going to kill me. For about two years now I have made a side hustle buying and selling motorcycles, cars, and trucks on craigslist. Its not going to make anyone rich, but I do have an average around 200% ROI this year ;)

A work friend, and local investor, realized my love for the hustle, and pointed me towards "Rich Dad Poor Dad." That set me off onto a 6 month Audiobook consuming craze. Brandon Turner's "The Book on Rental Property Investing" lead me to the podcast, lead me to the forum, and here I am! :)

I just recently purchased my first property that will be a "live and flip." I plan on taking advantage of the 2-year $250,000 tax rule, and using the raised capital to fund buy and hold investments. My wizard of a loan officer got me a "DPA" grant to purchase the property with a FREE $4,800 down payment paid by VHDA, so I couldnt be happier that I still have my savings to invest. I will get more into that stuff later though.

WHATS UP BP :)

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  • Michael S.Pro Member
    Biggerpockets Support · Las Pinas, Metro Manila · Member since 2015 · 7k+ posts · 1k+ votes
    10y

    Awesome progress Michael and we'd love to hear more. Welcome to BP. 

    BiggerPockets
  • Norfolk, VA · Member since 2016 · 17 posts · 4 votes
    10y

    Welcome Micheal! Sounds like you'll be doing big things! Congrats on the new project!

  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    10y

    Welcome Michael.

  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    10y

    @Michael Snead

    Welcome to Bigger Pockets. Make sure to listen to the podcasts. They are very informative.

  • Newport News, VA · Member since 2016 · 42 posts · 19 votes
    10y
    Originally posted by @Mark Nolan:

    @Michael Snead

    Welcome to Bigger Pockets. Make sure to listen to the podcasts. They are very informative.

     Oh for sure! 

    I've learned more from ep1- ep63, (where I currently am) than I have in any book. Hours and hours of awesome information. 

  • Investor · San Jose, CA · Member since 2015 · 100 posts · 14 votes
    10y

    Michael, welcome aboard.

    Congrats on your first property purchase.  Yes, BP podcasts are the best.

    Connect with me anytime. Although my company is based in CA and IL, we are both buyers and private lenders on lower $ ARV SFR properties throughout the U.S.

    Wishing you continued success.

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