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Updated almost 6 years ago,

User Stats

11
Posts
26
Votes
Keith Walton
  • Investor
  • Ask My Wife, USA
26
Votes |
11
Posts

So I read a book........

Keith Walton
  • Investor
  • Ask My Wife, USA
Posted

So, I read a book...and it got me interested in Real Estate Investing. My wife and I were at Chik-fil-A about three weeks ago and overheard two guys talking about Real Estate. She told me I should introduce myself before they walked out, and after lots of encouragement from her, I did. The gentleman I spoke with is a local investor and he instructed me to do two things. 1) Jump on Bigger Pockets, which I had not heard of, and start to self-educate, and 2) go to the local REI meeting, which happened to be the next day. I did both.

Since then I have been reading and listening to all things real estate and have had a second meeting with the investor I met (the other guy was a sub since the investor also GCs his own flips).

Originally, I am from Los Angeles and have lived all around the country. Not only did the Navy and Army move me all over the world, but since my wife and I both got out, we have lived in numerous places and will not be settling in Delaware for more than 2-3 more years due to employment.

During our second meeting with the investor, he stressed that "finding deals" is the most important step in the REI process. He has a 10-year background as a GC, so repair estimation is a no-brainer for him, and he is willing to teach me what he knows in that area. He also explained that finding financing is another secondary issue and again stressed that finding deals and being first in doing so is the step I should and will be focusing on.

Eventually, my wife and I plan to use the Buy and Hold strategy after we figure out where we plan to settle down so I can self-manage our properties. Until then we are grateful to the investor I met while eating nuggets at Chik-fil-A because he turned me on to BP, is willing to share his knowledge, and wants to train me to find deals so he can delegate that process to me while I also learn from experience.

The short-term goal is to engage in our first flip together during 3rd quarter this year. This gives me time to learn what I am doing through action and observation and gives me time to save for investing. The long-term goal is to do both Buy and Holds in the city my wife and I settle in and to continue to do flips.

PS…once my wife and I get to where we plan to settle, we plan to utilize our VA loan entitlement to house hack a quadplex or two before buying a home we plan to live in until empty nesting occurs.

Thanks to all for the knowledge that is so openly shared on this amazing site and I look forward to learning and growing with everyone.

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