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Updated over 5 years ago,
OUR PLAN: Good Enough or are we DOOMED!?!
Hello, I'm Anthony.
I am new to Bigger Pockets and the amazing world of real estate investing.
Over the last month, I have been ingesting everything real estate through a fire hose. No joke. I stopped watching TV and even listening to music, replaced with BP podcasts and other audiobooks. My Xbox hasn't even been on in months. <--- Never happened before! Needless to say, I have become ADDICTED to this intriguing world.
I am writing this, my first post on the BP forums, to introduce myself and my vision for the future and see what y'all think.
I currently live in Parker, Colorado (South East Denver) with my fantastic wife and youngest daughter. We are planning to move to Tampa, Florida at the end of our lease in June. Where I want to become a real estate agent and investor.
I am working 70 to 80 hours a week at my day job and am 12 hours away from my family working on the road. This is a big problem and needs to be solved. So I have dedicated every free moment of my life to escaping the rat race, and building the life my family deserves.
I plan to get my real estate license (I love working in sales) and use that to earn a living while quickly establishing a portfolio of cash flowing properties. To start we plan on buying a tri-plex or 4-plex and house hack it for the first couple of years we are in Tampa. We believe this is a good idea because it allows us to minimize our living expenses, and learn to be landlords while establishing ourselves in a new area. We want to take advantage of an FHA loan to minimize our out of pocket costs since we will be using most or all of our savings to make the down payment. After this, we are going to implement the BRRR strategy to establish our portfolio.
Now, this sounds like a great idea to us and others we've talked to but we don't know anyone in the real estate space. So I come to this amazing group to see what y'all think.
Is this a good idea, and if so, what are some pointers you can give us to execute our plan successfully?
If not, what do you think we could change to make it a successful plan?
Thank you in advance for your time (your most precious resource) and I look forward to becoming a contributing member of the BP community.