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Updated almost 7 years ago on . Most recent reply

Newbie from Birmingham, Alabama
Hi Bigger Pockets Community!!
I’m a new investor and have been reading the forums for a few months. I just finished my first podcast on “18 houses in the first 18 months”, and I was absolutely blown away at the useful information.
A little about my background: I have an engineering degree and law degree. My career has taken a winding road through working as an engineer and then as a lawyer. I then transitioned into a Security Director for a large corporation.
My college roommate started investing down in Savannah, and my family and I go to one of his beach properties to stay for vacation. This year, over a few beers, he helped me get a basic understanding of what he does and how he does it. I then (being the nerdy type) read every book I could get my hands on. Then, I printed the list of recommended books from this forum.
Fast forward a few months, after doing kind exhausting numbers crunching I found a deal that looked very promising. So, I have closed on an 8 Unit apartment complex and 2 duplexes last Wednesday. My college roommate advised me to not “dip my toe” into real estate investing; rather, in his words “dive head first into the deep end”. Well, I followed his advice. Now, I am excited, scared to death, exhilarated, and trembling with fear; all at the same time.
I like the “rocket ship” analogy from the podcast talking about how hard it is to get off the ground on the first deal. Hopefully, I can make this work. The biggest issue I have is the tenants are used to a “hands off” and “pay when you can” type landlord. I am trying very hard to correct that. The Landlording on Autopilot book has been a big help. Any useful information that y’all give would be much appreciated. I love to learn from folks that have done this successfully like all the good people on this forum.
Most Popular Reply

This is awesome! Congrats on the closings. Keep us posted on your progress!