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Updated about 8 years ago,
I'm green...but I'm serious! -Plant City, FL
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!