Long Time Reader...First Time Poster From Iowa

[Matt Sheridan]

Hello Bigger Pocket Members!
First off, I would like to thank all of you for all of the wonderful insight and positive help you have given countless people like myself who are just starting out. Your wisdom and knowledge are what made me finally make the first steps towards getting out of my day job.

My name is Matt Sheridan and 2012 marks the year that I made the jump into RE investing. I work at a credit union here in Iowa and have 2 kids. Having those 2 angels in my life are what ultimately made me take the plunge. It kills me to leave them every morning and go murder 8 hrs of my day making others richer. Dont get me wrong, my job is far from miserable, in fact I enjoy it a lot. I regret missing the time with my kids and it has begun to wear on me. Time is my main motivator.

So I dove in and bought my first property this year in April. I bought a 5 apt / 2 commercial space building. Quite aggressive for someone looking to get their "feet wet", I know! One of the commercial spaces is a public laundromat that I own and operate. The rents pay for all my expenses with some positive cash flow at the end of the month and the Laundry averages about $1300 a month in income. There has already been a fair share of headaches but I always put that into perspective...They are my headaches! Headaches that make me cry all the way to the bank every month! Its one step closer to my goal!

My goal happens to be this: In 10 years, I will have enough passive income to quit my job and be able to watch my kids grow up.

10 yrs is the absolute drop dead date...I hope to do it much sooner. In fact this week I put an offer in on another apt/commercial property which looks like it will get done once negotiations are completed, and am currently talking to a 3rd property owner and trying to get him talked into selling to me on contract.

Long winded I know, but I am thrilled to finally be able to chat about this with like-minded individuals like all of you guys and gals. I just hope to someday be in the same boat as you and enjoying the fruits of our labor.

Take care and thanks again for the motivation!
Matt Sheridan