Newbie with ties to Denver, Orange County, and Phoenix areas

[Toby Vockrodt]

Hi BP community!

My name is Toby, I'm 32 years young and I've been lurking on here and the podcast for about the past month. I have recently become financially conscious after getting myself out of a mental stalemate caused by what felt like unmanageable student debt. Once I was able to afford my payments and get my head out of my... I was able to achieve stability, automate my payments and savings, and open myself up to new life and financial goals. One year ago, I dedicated myself to lifelong health and wealth which resulted in successfully saving 25% of my income, my first stint in investing, a body transformation, and led me to recently read Rich Dad, Poor Dad. I feel like I have some momentum. After that, It took pretty much one real estate Google sesh before I was dropped on BP's doorstep! 

The title of this post lists 3 areas of the US that I am connected to, however I currently live overseas. Six years ago, I followed my dream job as a video game C++ software engineer to Stockholm, Sweden where I work on AAA games that sell tens of millions of copies. It's been rad. After my recent change in my lifestyle however, I've understood that I desire to get back to the US and continue to change my life. My partner has left Sweden and moved to Laguna Beach - working in Irvine. I am now seeking employment Orange County within my career's industry. Additionally, I have siblings in the Denver, Lake Tahoe, and Phoenix areas. My folks own 2 SFH properties in Aurora, CO and 1 SFH property in Chandler, AZ. We'd all be in the southwest US and I'd like to get my whole family and my partner involved in building our REI portfolio.

My goals are to be able to continue my career while also becoming financially free through REI and other investments. My dad has instilled an interest in RE since I've been a kid so I know it is something that I want to do. Ok, so what are my REI interests? Well... I have a feeling that will change the more I learn but being an engineer, the thought of rehabbing properties sounds very exciting and I also like the idea of rentals. So I feel the strategies I want to explore are BRRRR and flipping. I love the idea of house hacking since my partner and I do not own any property. Would love to hear your ideas!

Because I am overseas, I have come here to connect and interact with you fine, knowledgable people. Until I am able to relocate, I plan to network on BP, read Famous Four(tm) book recommendations, hunt for and analyze deals, and prepare myself for the day I pull trigger! I hope to be repatriated within the next year and I look forward to it!

Anyway, I am extremely excited to be on this journey with you all! I can't wait to discover how I can provide value to the community so I can earn the right to all the vast knowledge on this site. Feel free to get in touch! Here's to bigger pockets! 

// Toby Vockrodt - Noob Financial Freedom Enthusiast and Real Estate Investor

[Casey R.]

Talk with your tax person to see if mortgage deduction on a 4 plex is a better deal than renting in socal and spending capital in midwest on rental. Cost benefit analysis. 203k is FHA so you have MI addl cost but also you only need about 5% roughly to buy it. I would bet 4plex 203k (refi later to get out of lifetime MI) would be better if you plan to stay in one location for at least a few years. technically, I think you have to live in it 12 months, look into current regs, you might be able to rinse and repeat annually. I've been out of the biz for a while so I don't know what's new in last few years.