Newbie from Bellingham, WA

[Fallon Richardson]

Hey BP members!

     My name is Fallon and I'm 27. I moved here from Terryville, CT and have been managing an organic farm for the past two years out in Deming. Some big life events have caused to me to reorient my pursuits.

     I came to bigger pockets after finding the podcast while researching alternatives to savings accounts or CD's for my inheritance from my mother. She passed away earlier this year and my brother and I were left with her home, retirement accounts, and a little cash. The majority of the inheritance will be available upon the closure of the estate and I want to learn as much as I can before then so I don't waste it. I am the executrix of her estate so I'm also trying to find out if selling the property within probate, outside of probate or keeping it as a rental would be the best option for my brother and I.

      I've only been listening to the BP podcast for a month or so now but I have read many of the books their guests recommend. For example, 'Rich Dad, Poor Dad', Brandon Turner's Guide to Rental Property Investing, and Investing with Low and No Money Down. I just started The Book on Tax Strategies for the Savvy Real Estate Investor. I am hungry for knowledge. I also started Hal Elrod's Miracle Morning two days ago to begin to keep me focused. The past six months have been completely unpredictable. I feel confident now though that I am ready to begin this new chapter of my life.

My real estate investing goals for the next three months (or until the estate closes) I will be reading, listening, and taking in as much knowledge as I can. I am going to a local REI meetup and look forward to networking there and on the forum as well. I am anticipating the closure of the estate to take place around the same time I will have enough education to confidently make my first purchase. I'm currently leaning towards house hacking a multi-family and financing it with a low down payment using an FHA loan. I'd like to buy 3 properties in my first year following the closure of the estate. But I've heard its better to set your goals 10x, so I'm shooting for 30!

The why behind all this? I want financial independence and the ability to be with the people I love the most and pursue the things that invigorate and excite me. My income made it difficult to take vacations more than once a year to be with my family who still live back in CT. I want to be able to help my friends and family when they need it. My brother and I could be the one's caring for my grandmother as she ages and I want to make sure I'm in a strong financial position so that I can. She still lives in CT for now so I want a lifestyle that gives me the freedom to visit her more than once a year!

If you made it to the end of this long introduction, thank you for taking the time to read it and I look forward to meeting you and learning from you on the forums!

Happy Holidays!

Fallon Richardson