Hello everyone. I just became aware of Bigger Pockets on Thanks Giving. My sister told me about it and I've since been listening to ALL the podcasts starting at #1. It's helped with real estate language fluency. My dads' side of the family has always had rental property and it's always been an ambition of mine to get into real estate investing. In the early 2000s, my dad bought a $400k 20 unit apartment building in downtown LA and sold it for $1.25M. By 2007 he had around $5M assets under management when the bottom fell out. He had a 47 unit apartment complex with about 100 mini storage units that he left to be managed by someone who turned out to not be trustworthy. He was living in another state and didn't "manage the manager". Come to find out, the manager had: not dealt with vacancies, not paid the bills, including mortgage, and racked up a bunch of charges on my dads' credit card, bought a new truck and disappeared. Obviously too much trust in the wrong person, but at one time they seemed like good friends. Such is life. After unsuccessfully trying to salvage the vacancy's and work out a deal with the bank; he lost that property in foreclosure. After he lost that "cash machine" he lost a few other properties that were highly leveraged. You might think all that would turn me off to this business, but no. I have a house with an inlaw unit that I've been renting out since 2002. I'm a general contractor and am currently working full time for another company doing kitchen remodels. In 2012 I attempted a fix and flip with financing help from my aunt. We had an offer that would have netted me $30k but I turned it down. It was a down to the studs renovation with major structural changes and a 600 sf master suite addition, so my aunt decided to just keep it as a rental after we lowered it to a break-even price and it still sat on the market for 2 weeks. I kind of look at that experience as both a success and a failure, but mainly it was a huge learning experience. I wish I would have known about BP at that time.

Going forward, my goal is to BRRRR. I'd like to do the first one and "rent" to myself, then renovate the house I'm currently in before moving on to others down the road. Still trying to figure out the best strategy to transition out of my job and into real estate full time.

I look forward to talking to other members on the site and possibly meeting and working together.

Thanks for reading

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