I'm green...but I'm serious! -Plant City, FL

I'm green...but I'm serious! -Plant City, FL

Plant City, FL · Member since 2016 · 2 posts · 0 votes

I am brand new to real estate investment.  Like so many of you, "Rich Dad Poor Dad" has changed the way I see the world.  With recent encouragement and direction from a dear friend and successful real estate investor, and the invaluable education from the BiggerPockets community, I am ready to begin my transition to financial freedom!

I am starting from zero.  But I have a goal to purchase my first property within 6 months.  I have no capital. I am executing a credit rehab project that I must see through in order to qualify for a loan from a traditional lender.

I also work a full-time job that I love.  As motivated as I am to achieve complete financial freedom, I accept that the next 2-3 years will most likely include minding someone else's business 40+ hours a week.

My strategy for getting started ASAP is to establish a property management business. I have a strong enough administrative background and reliable resources in place to manage a small portfolio. (5-8 single family homes) I am currently researching property management best practices, and I would be grateful for any wisdom that you are willing to share on the subject.  

Ultimately, I am motivated to connect with local investors who remember being in my shoes once and would be kind enough to share your perspective on building a strong real estate investment portfolio.  

Once I have secured the capital, I plan to start small. My first property will be a single family residence in the $30,000-$50,000 price range with the intent to hold as a rental property. Refinance. Repeat. Otherwise known as the "BRRRR" strategy.

With that said, I have learned enough already from the BiggerPockets podcast to know that having a plan is great, but more importantly I must be agile and take what my market will give me if I am to be successful in it.  And am very thankful to BiggerPockets helping me realize that I can do this!  And I can find a way to get started right now!  

I sincere look forward to learning much more from Josh, Brandon and from all of you!

0Reply
20 views

2 Replies

Jump to latestLatest
  • Investor · Indianapolis, IN · Member since 2014 · 2k+ posts · 601 votes
    9y

    Hi @Joshua Bowen

    Welcome to the BP community! We were all green when we were starting out so don't worry about that. Sounds like you're jumping in and making your way. All the best with your first deal! 

  • Plant City, FL · Member since 2016 · 2 posts · 0 votes
    9y

    Thank you, Brett!  I shouldn't be surprised that someone from the BiggerPockets community replied to my intro post in less than an hour.  But still I am truly humbled.  This is going to be a fantastic voyage!

Join the conversationCreate a free account to reply, vote on answers and follow this thread.