The First Step: A Newbie from Murfreesboro, TN

[Christian Flack]

Hey everyone! Long time viewer and listener of the BP podcast, first time posting.

I'm 25 years old and have only recently been educating myself on finance and investment subjects. I started my first investment journey through stocks a few years ago. I've enjoyed the game of learning investment stocks, but I am looking to get into assets that I have more control over and that produce better cash flow. As with all things new I'm looking to start small. A single family house as a primary residence or house hack with a small multifamily would be my ideal starting point.

My long term vision is to own enough real estate to take care of all my monthly expenses so I am able to focus on the work I would like to do. I published my first self-help book this year and would love to write more, as well as to go back to go school to be a professional counselor. This is where I ultimately see myself being able to provide the best work I can to the world while I'm here.

What motivated me to start this journey is the realization that I can't rely on other people, the government, a 401K plan, etc. to secure my financial future. I'm watching my parents go through the trouble of scrambling for cash as they near retirement age right now, so I know it's something I need to get started with sooner rather than later. I would love to have the financially flexibility to care for my parents because the traditional methods for retirement are inadequate these days.

Truthfully, I'm scared to buy real estate. I've found myself caught in the "paralysis by analysis" phase because of my fear of actually getting into something. But I've learned that anything that's scary and exciting at the same time means it is worth doing. I'm looking forward to interacting with you all and learning as much as I can while saving to make that first purchase. Greetings from TN!

One of my favorite verses from the Tao Teh Ching:

Verse 63:

"Difficult things of the world
Can only be tackled when they are easy.
Big things of the world
Can only be achieved by attending to their small beginnings."

[Nathan Beach]

Welcome to BP! You're at a great age to get started building a real estate portfolio. Let me know if you'd ever like to connect. We have a great pulse on the Murfreesboro market. If you're ever available in the mornings, Scott Abernathy and I host an informal coffee meetup on Tuesday mornings at 7:30.