New Member from Midland, TX

[Christopher Giese]

Howdy! My name is Chris. I'm a drilling engineer working for a small, private oil and gas company in Midland, TX. I've been working in the industry for 5 years after having graduated from Texas A&M. I love my job but have always aspired to do more for myself and my family.

I have always hear of, read of, or seen successful people and always figured they must have something I don't. I always wanted to have success like that but always thought it was some abstract concept that i could never obtain. As far as I can tell, the only thing I didn't have that they did was the courage to take that first step.

So anyways, here I am ready to take that first step. I have been thinking through different ways for the past several months on how to start my path towards financial freedom; small business, stocks, manufacturing, etc...I must have thought of it all until yesterday I had the idea think about real estate. Through a google search or two I happened to stumble across this site where I read the beginners guide in one sitting and was instantly hooked.

I haven't had much time to think about it and my goals will probably evolve but for now I would like to enter into the niche of buy and hold I think it was called. My immediate goal is to figure out how to finance my first single family home to buy and rent out. I still have a LOT of reading to do to figure out what I'm doing before I dive in head first, not to mention saving up for a down payment. When my first purchase is successful (have to stay positive right) my next goal will be to figure out the best way to manage my money to eventually have 5 rental properties.

I just wanted to say hi and introduce myself, I look forward to learning more about real estate and more about everyone here in the coming months. Thanks!

[Bill Gulley]

Welcome Christopher!

We are getting so many Texans here we may have to start a BiggerPockets of Texas!

I suggest you define what you want to do, specifically and then look for a great deal. Take your time, great deals were had when interest rates were 10%! So the priority is the best deal. Then look to financing the deal. You certainly don't want all your eggs in one basket, so you might say use 20K initially, that means your deal needs to be under 100K. Depending on what you want to do, you might identify 3 cheaper properties with some rehab funds, or whatever. Just saying, find the deal first then see how to finance it. And, if it's not a a decent deal that fits in your plan, pass on it. :)