Newbie investing in Cleveland, OH

[Ed Nelson]

Hello everyone! I started out in March 2018 looking to buy 1 property in Cleveland after doing some research. Eventually I set a lofty goal for myself to try and obtain 3 cash flowing properties by the end of 2018. I currently have 4 properties and I am under contract for a 5th. I currently own a 4-plex, SFH, duplex and a BRRRR duplex that is mid-rehab currently. I am under contract for a SFH now. All properties are cash flowing (except the rehab duplex). I decided I was going to go for it and not look back. I am am trying to get out of my W2 job and live on passive income from my rentals. I love my W2 job, but after 13 years I am tired and I will have a pension after 20 years. I can only retire if I am able to supplement my pension income. Now I want to replace it and exceed it before I can even receive a pension check.

My new goal is to double my properties and own 10 by the end of 2019.  I used BP to feel out the Real Estate investing crowd and it motivated me hearing success story after success story.  But after being burned in 2008 after I bought my first rental property I was done with real estate investing after that crash.  I did everything wrong.  What got me back in the game was 2 things...1) Mark Ferguson's book "Build a Rental Property Empire" and 2) listening to 2 different podcasts where I heard 2 people who were in my current profession resign because they were making so much money in Real Estate.

I attended my first meet up this week and it was nice to speak with people with the same goals and interest in Real Estate.   I share my story so the person reading this, who is where I was at in March, will know your goals can be attainable in Real Estate with hard work and dedicating the time to do the research.  I still have a long way to go myself, but I cannot wait for what the future will bring me with Real Estate.