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My 10 year goal
Back in May, I was researching a question about buying a residence when I stumbled upon BiggerPockets. It had never occurred to me that I could ever become an "investor" but once I got hooked on to BP, I was very excited because I knew that here was the blueprint for a path towards financial security. I felt like the guy who discovered gold in California.
So now I'm planning to acquire rental properties out of state where I can get a much better ROI than Orange County (where the median home price is >$500k and positive cash flow is nonexistent). Initially I had a goal of 5 houses in the next 10 years. Now I feel confident that 10 properties in 10 years is achievable. Is that laughable or what? Here I am with not a single deal under my belt but just a ton of determination. I know I will succeed. I'm super motivated because of my kids, one of whom has special needs and for whom I need to provide for the rest of his life!
I wrote this post really for myself to mark the start of my journey in REI and to keep me accountable to working towards this goal.
Thank you Josh for creating BP and thanks to the entire BP community for the inspiration to shoot for the stars; and blazing the trail for newbies to achieve financial freedom.
Comments (6)
Elizabeth - I just realized you are from Fort Wayne. OMG - your town is on my short list of places to invest. So cool to meet you.
Emma S., over 11 years ago
Thanks guys - so cool to have folks cheering you on! Elizabeth, not at all likely that fear will hold me back. I do not shy away from risk or hard work. What may slow me down is family commitment and lack of time. If it wasn't for that, my goals would be even higher. Thanks again for the encouragement.
Emma S., over 11 years ago
You can do it!!!
Vyck Cooley, over 11 years ago
Setting a goal is a great start. The step is the massive action I just read a blog post about. Don't let your excitement fizzle out because of fear of the next step. It's scary, it's hard work and is some times frustrating but it's all worth the freedom it provides. Good luck!
Elizabeth S., over 11 years ago
Thanks Josh. Will be posting updates along the way...
Emma S., over 11 years ago
Congrats for jumping in and for transforming yourself into one of the many real estate investors out there. I appreciate your message and want to wish you lots of luck on your journey.
Joshua Dorkin, over 11 years ago