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Updated about 8 years ago, 12/15/2016

User Stats

14
Posts
4
Votes
Shawn Campbell
  • Investor
  • Louisville, KY
4
Votes |
14
Posts

Attention Indiana and Florida Investors another Newbie

Shawn Campbell
  • Investor
  • Louisville, KY
Posted

Well, not my first post, but my second.  Used my first to provide feedback to someone else.  Little bit of an introduction.  I grew up on the south side of Indianapolis, lived in Orlando, New Haven, CT and now am living in Shanghai China working in the Medical Device Industry in Operations.  My situation is as follows. 

  1. I plan on continuing to work as I enjoy my job and am good at it and the income generated is strong as well.  
  2. My wife and I are planning to return to the US next year, though that depends on the job so may end up staying in China longer.
  3. We have a financial goal we have set for retirement and generating cash flow through real estate is one way we have decided to build on our existing base.
  4. Credit Score is high and have a strong cash position to begin investing.
  5. Have a current single family rental property in Hamden, CT that is cash flowing well though I don't intend to continue in this market.
  6. Have my MBA so understanding of the financial concepts that I hear everyone speaking about on here on bigger pockets makes complete sense to me though I realize that I have a lot to learn.  

Current Goal: ~200,000 Gross from rents over the course of the next couple years though we are still working through the numbers and reading comments on BP to better define our goal.

Current Gaps:

  1. Market - Considering Tampa, Orlando, Indianapolis, Dallas as we either have people there or am familiar with the area.
  2. Multifamily vs. Single - Am leaning towards multifamily but am not fully sold that there are large economies of scale that occur with things like duplexes or quadplexes.  Interested to hear thoughts.
  3. Need strong connections and this is probably my biggest gap.  In China we call it Guanxi (or relationships).  Being over in China this is going to be an important part.  Though need to find Brokers, Management Company, Contractors, etc.  Part of why I think we are all drawn to bigger pockets.  
  4. CPA - Currently I have an expat CPA, though I think I will need someone who better understands real estate.

Anyway, long post, but am very happy to be here and look forward to meeting many of you.

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