New investor from Winston Salem NC

[Christopher "Bear" DeSanctis]

Hello, my name is Chris DeSanctis. I'm 31 years old and I work full-time as a physical therapist and I live in Winston Salem, North Carolina. I have no background in real estate and at this time I do not own any property. My ultimate goal is to FIRE with a buy and hold/BRRRR strategy of SFH/MFH.

I discovered BP several months ago from an IamA on Reddit by a guy who went from nothing to nearly having 100 properties in about 10 years. I read every post he made then continued expanding and learning most recently finishing Rich Dad, Poor Dad, Brandon's Rental Property Investing book, and several dozen episodes of the BP podcast.

I found myself thinking more and more about my future, what I wanted from life, what my dreams were.

Last week I got home and saw an email for Brandon's 90 Day Challenge webinar. I don't know what came over me but I dropped what I was doing, sat down, and watched and took notes, which is something that I 'never' do. After I was done watching I realized that it was time for action. I can dream all I want, but I actually have to get up and do something about it.

Right now I am in the education and planning stage. I'm still listening to podcasts, working my way through other books on the list. I have a spreadsheet for analyzing properties and have started scoping out my local market, analyzing deals, looking up information with resources available. I feel like I've already learned a lot and the idea of doing this is getting a little bit less scary; numbers and math help make me feel comfortable I guess.

I've started driving for deals...really more just learning my area, but call it what you will.

I'm slowly putting together my 90 day plan – it's sparse, but I'm trying to follow some advice from one of the early episodes about just figuring out the next step when you start to feel overwhelmed.

My short-term 90 day plan:

Buy a 3-4 plex and house-hack

I intend to use property management company ASAP.

Must be FHA compliant because I plan on making the minimum down payment (estimating 10-12k to spend by August)

Light rehab okay, but no major work. I don't plan on getting my hands dirty because I'm not competent with that kind of work and the return on investment isn't worth what I can make elsewhere.

B/C neighborhood in southern Forsyth country or Davidson county.

My medium term plans:

BRRRR single and multi- family properties in this geographic area.

I want to make enough money to transition to part-time PT so I can more effectively accumulate properties.

My next steps:

Networking: I need to form my core team - Real estate agent, mortgage lender, contractor, property manager. I will use the forums to find recommendations from other members. I want to meet a really good real estate agent first and hopefully utilize them to help me search and meet other members of my team.

Learning:

Finish Unofficial guide to real estate investing book

Examine this listsource and openlettermarketing things that I keep hearing people talk about.

Continue analyzing deals. I have done 8 so far and will do 2 more tonight after the webinar. (This has been an interesting step. Some of the properties I thought would be excellent at first glance were TERRIBLE deals and others I thought were 'Meh' actually turned out okay.

So I know this is super long winded. I think I mostly did this to just establish myself and change my habits and start immersing myself instead of watching from the outside. I think it also helped me think out my plan and what I need to do next.

I look forward to growing here and hope to meet any locals to the Piedmont Triad.

Regards,

Chris