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Updated over 7 years ago,
New to BP - from Philadelphia
Hi all, I'm Joe and I live in Philadelphia. I've recently made the leap to starting making my dream a reality -- leaving the rat race, building wealth through careful procurement of BRRRR properties, and doing my best to providing quality units at a price my tenants and I can be happy with.
Some background on me -- I work in IT Consulting and I like it, but I'm looking to stop working for others and start working for myself. I purchased a SFH in Philadelphia back in 2010 and moved out in 2014, and have been renting it ever since. I've dealt with all kinds of fun stuff with the property, but none of it has deterred me -- it's only made my fire burn stronger for this dream.
I recently was chatting with a new realtor friend of mine (mutual interest was soccer) and he was very helpful in opening my eyes to what I might be able to do. My SFH is breaking-even and I'm not building tremendous equity in it (FHA loan) -- it's time to sell it and cash out to buy a property or two. So, I'd say I'm about 50% done my business plan and hoping to finish it soon; the clarity I've gained from putting together a business plan based on what I am seeing on BP is astounding.
Anyway, I plan to lurk, ask questions, try and help folks, and seek help from those who are more experienced than me. I can pay people in beer or free night/weekend labor. :)