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All Forum Posts by: Cyan Colbert

Cyan Colbert has started 1 posts and replied 4 times.

Brie Schmidt & David Boroughes  Thank you for the reply!

As a new to the game investor would you mind sharing how many properties you purchased before the banks decided to cut you off?

Thanks for the warm welcome! I've started going over some of the readings available on this site as well as the forum and i will definitely soak up as much as I can from podcasts and webinars. 

Originally we were thinking the traditional method would be the most straightforward way of getting started. But after learning about the BRRRR method, it SEEMS like an easier/faster way to build up a portfolio.

Fortunately, my career has enough flexibility in my schedule to avoid interfering with work.

I'll start With a little background about us. The only form of investing We've ever done before now is through employee stock purchase plan and 401k contributions (Never really had the extra funds to do more). My wife and I make decent money and have always made sure that all of our bills have stayed current. However, we were far from anything close to resembling financial stability. We had no real savings or anyway of dealing with emergencies outside of credit. I've always been interested in real estate investing but again had no available funds to pursue that path. Then in July of 2018 we finally got tired of "having money but being broke" and decided to do something about it. We set a goal for ourselves of 2 years to get out of all consumer and student loan debt AND save up a comfortable  emergency plan. Well i'm excited to report that about a year and a half later we have payed off all of our consumer and student loan debt ($65,000+ ) and accumulated a good 6 month emergency fund. That being said we are finally ready and able to pursue our goal of "financial freedom" using real estate as our investment vehicle of choice.

Rental properties is primarily what we are interested in but I'm always open to learn about other opportunities.  We are currently in the research phase and I've been reading up on anything and everything I can get my hands on. but I feel like without some sort of direction or guidance that we are missing out on valuable resources and opportunities. So i hope to learn as much as possible here from those that have been where I am and figured out the path to getting started.   

Thank you for taking to time to read my story and I look forward to getting to know the community.

Cyan