New Houston Rental Property Investor

[David Morrison]

Hi all, I've been lurking in the BP shadows for long enough and finally decided to dive in head first to truly get the most out of what this platform has to offer. A little about me; I am located in Houston Texas (previously in Dallas for about 7 years) and work in residential real estate development for my day job. I started my career with a residential developer in Dallas which I loved. After that I did three years of commercial real estate lending and homebuilder finance with a large national bank. I did not love that. Although I learned a lot about lending it did not excite me in the least. It seemed too far removed from the real estate and I knew I needed to get back to the development side.

I've been passionate about real estate for a long time and a few years ago I had the realization "why am I not doing this in my personal life as well? I understand real estate and have a passion for it, therefore it needs to be part of my investment portfolio." Enter BP. I found the website while googling things like "flipping houses" and "rental properties" and this website (and especially the podcast) changed my mindset from "I should be doing this" to "I can and will do this". Until then I actually thought that investing in real estate was only for wealthy people with tons of disposable income that they needed somewhere to park.

That brings us to today. I am almost exclusively interested in single family long term buy and hold unless a deal came along that seemed like slam dunk fix and flip AND I wasn't interested in keeping it as a rental. I've arranged a private loan for the acquisition and rehab of this property and am meeting with community lenders to see who would be a good fit for a cash out refinance after the rehab is done and the property is rented out. Essentially the BRRRR strategy. Now if I could only find that ever elusive first deal.

Anyway, I've already learned a ton from reading and observing here on BP. I know that getting involved is that next step that will help me learn even more and more. I'm excited to connect with anyone in Houston, or anywhere for that matter. I hope to be a good addition to the forums and add some value wherever I can.

Sorry for the long intro post.

P.S. My short term goal is to buy two rental properties in the next 18 months and my long term goal is to have income producing properties generating $10,000 per month in passive income by the time I'm 40.