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All Forum Posts by: Barb F.

Barb F. has started 9 posts and replied 54 times.

Post: Northern VA Meetup interest?

Barb F.Posted
  • Northern Virginia
  • Posts 59
  • Votes 22

Hello, BP family!

I'm interested in starting a meetup in eastern Prince William County. Events in DC are a pain to get to. I'm thinking of using the Montclair Community Library (5049 Waterway Dr, Montclair, VA 22025) and picking either a Monday or Thursday after work from 7 - 8:30 once a month.


Would you be interested in attending this meetup? Please respond here and if there's interest (literally just about any interest at all) I will reserve a room and create an event!

If you have thoughts about shifting the time, I could go as early as 6 - 7:30 instead.

I'm a newbie and would love to see this group be a welcoming mix of folks from the new to the experienced. I myself am looking for a mentor for accountability with good rapport and a similar philosophy to mine. Let's make this a rewarding experience for anyone and everyone who turns up. Maybe we won't know everything, but we'll be able to put you in touch with someone who can help you with what you're trying to learn about.

Post: Any "Afford Anything" Devotees? Question on new course!

Barb F.Posted
  • Northern Virginia
  • Posts 59
  • Votes 22

@Sean Lunny Thanks for taking the time to share your thoughts.

To your first question: It was about in mid-February when I committed to decision to buy a rental property. It's also the same time that I've started launching a small business to sell my artwork. The latter venture is going well; I have my first event booked in May, the second in August, and I have a local word of mouth market because I've given my work as gifts and donated it to local raffles already. So, it's not that I'm waiting for permission, so to speak, it's that I have split my attention. It's been great because it keeps me from getting bored, because I can pick one of two things to work on in my free time.

It's much more that I'm hoping the course can provide me a regular schedule as an accountability check-in. I'm a scientist by profession, but teacher and student at heart. Being able to follow a clear-cut, hand-holding type approach appeals to me. Where I can work out at the gym just fine, some people need to pay the trainer to get their results. I think this is my version, where paying for it will keep me in check, committed, and moving forward.

As to your second point: I have not yet fully exhausted all free resources. Since I only found BP a month ago, I've been picking and choosing episodes that seem most relevant (I want to do a SFH, so I generally skip episodes focused on apartment complexes, for example). I did post on the forums looking for a mentor, and ended up having a phone chat with someone who invests around the area I'm looking at (Huntsville, AL). It was indeed helpful.

As soon as I post this, I'm going to start another discussion forum to gauge interest in starting a group in my area and use a room at a local library. The idea of scheduling one more thing on my monthly calendar gives me a touch of anxiety, as I'm pretty heavily involved in my local community and already am committed about 3 nights / week to local events... but I suppose if that's the price of getting started, right?

Final thoughts: I've read Mike Butler's Landlording on Autopilot and I'm midway through David Greene's Long Distance REI. I went to a ChooseFI meetup (had to drive 2 hours in the snow because DC grinds to a halt when we see snowflakes) and met helpful folks there. But I also struggle to stay in touch with folks I don't see in real life on a regular basis. But it's really the streamlined, flow chart "Do A, then B, then C...." setup of this course that is just captivating the part of my brain that craves simple instructions to follow. It's about doing it more efficiently, even if I would be able to figure it all out by myself and finding mentors.

Thanks for letting me talk through some of my thoughts on the decision process. You mentioned that you've made the mistake of wasting thousands on other people telling you how to get started. Can you share any examples? If stuff looks and sounds spammy I generally stay away (the closest REI to me is about 40 miles away and it reeks of just pushing the organizer's business products), but I'd be grateful for any advice on how to figure out what to stay away from. Thank you so much!

Post: Any "Afford Anything" Devotees? Question on new course!

Barb F.Posted
  • Northern Virginia
  • Posts 59
  • Votes 22

Hi, BP family! I'm just starting out and came to BP by way of Afford Anything, which I've been listening to somewhat obsessively since about December. Paula from Afford Anything just came out with her Your First Rental Property Course and I'm trying to decide if I should enroll.

Pros: 

  1. Supposed to be well-vetted and effective after going through two dry runs
  2. The weekly work and accountability will help keep me moving and shake my analysis paralysis (which has set in over the LLC question and I've since focused my energy on my other side hustle)
  3. Similarly, Paula seems to have an approach of "Buy what you can comfortable afford, pay it off, then get another." That strategy resonates SO much more with me than the very aggressive methods I've seen and heard around here. I don't know that BRRRR and using OPM (other people's money) is something I'm going to be comfortable with... and if it is, probably not for the first one.
  4. I'd really like to pull the trigger this season so I can have something set up nicely by the end of summer, so the timing is great! Course starts 4/15 and ends around 6/21. Perfect timing for me.
  5. There are NO meetups in my area at all (BP, ChooseFI, nothing) where I could get this knowledge in person in another give-and-take Q&A style.

Cons:

  1. Cost! $1000 is steep. Especially with no spouse / partner to help break it up. I have the money but was going to use that money to open a Roth IRA next week, actually.
  2. I joined BP Pro 2-3 weeks ago after my first webinar because I do find them super helpful. I wonder about whether Paula's info is going to be anything I couldn't get here or somewhere else. Generally I'm super frugal and the idea of paying money for information I can get for free / less expensive elsewhere makes me cringe. However, even watching the webinars I can still fall into analysis paralysis and letting other things take up my time.
  3. As much as I WANT to buy  my first property this spring/summer (I'm looking in Huntsville, AL and live in Virginia), I only have about $20k I can put toward this. Maybe the timing is wrong and I should just wait because I don't have enough.

Is anyone else a fan of AA? Is anyone in this community thinking about enrolling in her course? Definitely planning to do it? Thought about it and decided against it? Definitely not attending?

Thanks so much for sharing your thoughts! Time to tune in to today's webinar :)

-Barb

Post: Looking to Purchase in Huntsville, AL. Any advice or expertise?

Barb F.Posted
  • Northern Virginia
  • Posts 59
  • Votes 22

Oh, I'm so happy to have found this thread! I'm new to REI after listening to Afford Anything podcasts for about 4 months now... which led me to BP. I'm in Virginia and know some acquaintances who live in Huntsville, but unfortunately nobody who seems able to help connect me with a great team down there. I'm planning to come visit the area from April 25-28 and am hoping to meet folks to start putting together the team as well as drilling down into which neighborhoods I'd like to invest in. I'm looking around the $40-50k range (I know it's small, but it's what's going to work for me at the start). @Wendy Carbone @Krista Billiter @Rhonda Blue @Dave DeMarinis If any of you are willing to talk more with someone new (but highly motivated to learn), I would truly love to get in touch. Thank you so much!