New Investor from Utah

[Justin LaTorre]

Hello BP!!

First, I'm a long time lurker that has learned A LOT from this community. You guys are amazing people and I am looking forward to making new connections and seeking your guidance.

Here's a little about me and the direction I would like to start on:

I just purchased the home I plan to live in for many years to come while I grow my family and my real estate portfolio. I have the ability to pull loans out against my retirement and I am currently awaiting one to be paid off so I can take out another, which should be around 20K. I know it isn't much but I am confident I can use that 20K as a down payment on a house that I would like to make my first rental property (buy and hold). I've been doing a lot of research on crowdfunding (realtyshares.com) and plan to touch base with my Closing Agent (although I think my debt to income ratio is too high for that route) just to broaden my options. My long term goal is to acquire cash flowing properties via the BRRRR strategy.

Am I making the right moves to get started towards my goal?  Any insight would be great.

[Rebecca Belnap]

Most retirement plans state that you can only borrow once each 12 months, so check their rules, other than that, you plan looks good.  

I love the BRRRR method and it works well. I'm not as fast as some, but we have picked up a duplex and a triplex in the last 6 years, one in Orem, one in Lehi. So yes, it does work in Lehi.