Newbie From Birmingham, AL

[Tonia Myers]

Hello Everyone!  My name is Tonia Myers. I reside in and want to invest in Birmingham, AL.  I have a job (Just Over Broke ...lol) and I am looking to build some real wealth and freedom for myself and my husband.  We started a ministry here in Birmingham and want to ensure that we have several streams of income that will sustain us as we move throughout life.  Just this past week my husband's grandfather was terminally ill and I was unable to completely devote my time to him and his family because I had to work.  Fortunately, my job is virtual but I was expected to really produce and could not afford to just take a couple weeks off to deal with my family issues.  I can't keep living like that.  

I have bought 3 personal homes in my life but never any investment properties. My main and initial goal is to create cash flow then I would like to move into self-directed IRA purchases for retirement.

I was introduced to Bigger Pockets through Clayton Morris.  I found him on youtube and he was talking about bigger pockets so I decided to click on over and check it out.   Let's just say at any given time you are around me you will either hear a podcast going or hear me talking about something I learned on this site.

I want to thank you all in advance fo all the insight and information that will be shared between us! 

[Clayton Mobley]

@Tonia Myers Welcome to BP from another Birmingham local! Always good to see our awesome city represented! You're in a good position in that you live in a great cash flow market already, which means you don't have to go out of state like many people who live in pricier markets like CA and NY.

Since you're just starting out in your REI journey, just keep doing what you're doing: learning all you can. There are a million ways to do REI and it takes some time and legwork to determine which method is going to work best for you. For SFR rentals, the question usually comes down to 'DIY or turnkey'? - both of which are perfectly viable but have their pros and cons. My best advice for new investors is always to be brutally honest with yourself about where you are *right now*, not where you see yourself in a few years. You don't have to choose one type of REI and stick with it forever - you strategy can (and should) evolve as your situation and goals change - so be honest with yourself about your resources (financial, time, energy, interest) and don't jump into something just because that's what everyone else is doing, or because it fits your idea of what kind of REI you *should* get into. Have a serious heart-to-heart with yourself (and your spouse) about what your current capacities and needs are, and develop some short-term goals that are realistically achievable given your current situation. You'll be much more successful if you focus on the step immediately in front of you rather than where you hope you'll be in 15-20 years - do your homework, know your heart, and then establish a plan with achievable goals, you can reassess and revise as you progress.

Best of luck and happy holidays!

Clayton