This is me and this is why I'm here

[Graham K.]

Just caught the real estate bug again a few days ago. This time it's different because I have money to invest. I'm about to be 29. Been self employed full time since 2009. I'm single and pay $800/mo rent for a jr one bedroom in a decent neighborhood in Oakland, CA. I put away $36k in 2011. Shooting for $45k in 2012. FICO is around 790.

I know real estate investing is a get rich slow plan and I am comfortable with that and the delayed gratification that I have read about here. I just want to start learning and preparing now and maybe I can get my toes wet in 4-12 months.

What I love about real estate is all the different options you have in executing deals. I could buy a SFR (already learning the acronyms from you guys), get a good tenant, and hopefully break even on the average month. I could but a fixer up duplex, occupy one half, rent the other and make improvements over a couple years.

It may be difficult to get a mortgage with my financial situation, owning a corporation, writing off anything that is related to business, not paying myself much. I am in the process of switching to a more appropriate looking financial model (all the same money just placed in different places). I also have the option of partnering with my mom who is retiring in 3 years and will take home $6.5k/mo in retirement. Maybe we could go in on a property. Maybe she could simply cosign for me since she has the regular income history and excellent credit as well.

Anyway, it's all very exciting at the moment and I have already learned a lot here having just discovered this site last night.

Cheers to all,
Graham

[Graham K.]

Thanks Al, I appreciate that.

Greg P. I think the reason I'm saying that is because my career is taking off and I want to put a majority of my energy into that because I'm doing what I love. I just want to start building a portfolio that will make life better 10-15-20 years down the road. It's also nice to have something to fall back on if my current business isn't always as strong as it has been. Right now I think a buy and hold model would suit me best. Hence, slow and steady. I also like to underestimate performance and hopefully surprise myself going forward.