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Updated over 7 years ago on . Most recent reply

User Stats

5
Posts
3
Votes
Mark W.
  • Birmingham, AL
3
Votes |
5
Posts

Getting started in Birmingham, AL

Mark W.
  • Birmingham, AL
Posted

Good morning! My name is Mark and I've been a bigger pockets listener for about 6 months now. I've made it about halfway through the backlog and can't put down the podcast. I try to run 10-12 miles a week and Brandon & Josh come along and turn it into an enjoyable experience. I've been married for 10 years and have two boys.

I've always wanted to run a business and I think real estate can provide the best opportunity to slowly shift into it. I'm employed full time in a very stable position and do enjoy my job enough to keep at it a while longer (comes in handy for mortgages, too).  I'm currently on track to reach financial independence within 12 years but I want to speed that up and find a new passion. The goal is a flexible business to support my lifestyle where I can shift to be more or less active depending on circumstances & desires.

I'm interested in buy and hold with cash flow or appreciation (definitely no feeding a rental though). I think I'd like to give property management a shot at least through 10 properties to get a good background in it. I do not want higher risk for higher returns. I've got a decent down payment saved and add more every month.

Next steps:

  • Start interacting on BP forums regularly.
  • Find & learn 2-3 neighborhoods worth investing in. I want to stay out of war zones and problem areas. I like neighborhoods with proud residents. I'm very familiar with my neighborhood, Bluff Park, but prices are high at the moment. Possibly some door knocking or mail opportunities there.
  • Begin analyzing deals regularly
  • Knock out some real estate books. I'm currently reading The Millionaire Real Estate Investor and I've got at least 5 more lined up after that. Gotta find more time to read!
  • Setup of documents/structures to handle the first deal with the intent of growing to 10 initially.

Thanks for reading,
Mark

Most Popular Reply

User Stats

5
Posts
3
Votes
Mark W.
  • Birmingham, AL
3
Votes |
5
Posts
Mark W.
  • Birmingham, AL
Replied

Will do & thanks @Dave Visaya. Brandon's latest webinar finally convinced me to to make the first post!

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