Beginnings of Our Journey

[Joseph Lunstrum]

We started our foray into investing about 6 months ago. Due to a death in the family we relocated to a relative's home and started renting out our starter home that has an FHA Loan at 6%. For the few months, I've been reading as much as can about investing in real estate. Over the summer, I talked to a friend of mine about flipping. I started visiting websites and forums. I looked at Lifestyles Unlimited, then looked for my local REIA's and then I stumbled upon BP. And I'm glad I did. I've gotten more free advice and knowledge here in a few weeks than I would have poking around the internet for months on end. I feel like I'm part of a community of people who are tired of relying on their 9 to 5 to make ends meet, and want to live life on their own terms, create a legacy, create financial freedom and work hard to do it. During my research time, we have been steadily collecting our rent payments and putting them into a separate savings account. I have one concern that I feel we must take care of before we can begin or move to the next step of our investing journey, which is refinancing our FHA loan to a conventional at a lower rate. I want to do this so that we can free up some cash flow in that rental payment. The value of our home has increased every year since we purchased and I see it continuing to increase. I want to take advantage of the low rates before they start increasing. I see this as our first step because it will get me out there talking to banks and getting into the finance area of things. Just wanted to get this out there. It's kind of a manifesto for us now that it's on the screen all typed up. Thank you to all who have replied and answered my questions about this career changing experience!