Intro from Louisville, KY

[Daryl Sielaff]

Hello All,

My name is Daryl Sielaff and I work as an Electronics Engineer in Louisville, KY. My wife and I have never liked the idea of paying rent to others, knowing that we were helping them build equity. For a number of years we felt we weren’t in a position to invest in real estate and we always had good reasons/excuses, but after listening to and reading so many stories I can see that we really should have started earlier.

I've been consuming as much material as possible the past several months from books, podcasts and blogs. I've started to network locally by attending the local REI group last week (KREIA). Now I'm searching for our first property, crunching numbers on MLS but not finding much that would cash flow. I'd like to invest locally so I can be hands-on as I learn, so I'm wrapping my head around other ways to find properties (wholesalers, FSBO, direct marketing?).

My current strategy is similar to many, targeting long term rentals for single family houses and 2-4 plexes, acquiring with the BRRR method when possible. My target is one new property a year for the next few years as I gain experience in managing renovations and tenants.