Hello from western Oregon

[Mike Smith]

I've been lurking here for awhile learning what I can, and it's about time to introduce myself and start networking. I've always had a passing interest in real estate but never had enough extra money to jump into investing. About seven years ago I got lucky finding a great deal on a foreclosure to be my primary residence. I wasn't thinking too much about building equity or using this house to grow my wealth, but the value of my house has more than doubled since I bought it and I'm ready to put that equity to work buying additional properties. I'm in the process of doing a cash-out refi on my house to start investing.

Unfortunately home values here are high while rent is still relatively low. After considering my skill set I think buy and hold rentals are my best strategy for investing, but I can't buy anything locally that's going to cash flow. I've been researching other markets and I am primarily focused on Jacksonville, Florida, as a place where I can find cash flowing rentals that will appreciate in the foreseeable future.

Once my refi is complete and I have cash in my account I plan on buying a single property in Jacksonville so I can start learning from experience. I'm planning on using my additional cash to invest in short term rehab loans through groundfloor.com. If my first property goes well I would like to start growing my portfolio. I also have an interest in trying the BRRRR strategy as well as buying vacation rentals but I want to get a little more experience before I test those waters.

I look forward to meeting and networking with investors in my area as well as people that know the Jacksonville market. I'm also open to looking at other markets where rentals can be expected to both cash flow and appreciate.