Hello BP!
The realtor in my REI group told me about BP, and boy do I owe him. This site is a tremendous resource, and I'm eager to dive in and learn, learn, learn!
I've always loved real estate, but have only recently looked at investing. I'm a licensed banker by trade, and I just talked my parents out of making a bad investment in Texas. I know that real estate has options that would be perfect for them, and so that lead me down the rabbit hole to here.
Originally, I was looking at student housing for my parents. However, due to city regulations where I live, I don't believe that is the best option for them any longer. I'm now exploring other options for them, including mobile/manufactured homes.
The goal for them is to build at least $25,000 or more in passive, annual income.
For myself, I'm eager to get started, but have no funds. Based on what I've seen, I think the best option would be to wholesale/bird dog/sweat equity with a seasoned investor in the area. I would then leverage that experience into something more. At least, that's what I THINK I'm the best option is, but I would love anyone's thoughts or opinions on it.
I'm also trying to figure out the best place to get started, whether that is here in WA state or somewhere else. Prices are so high here that getting started from where I am seems like a huge issue, in comparison to other parts of the country. I know there are TONS of opportunities in Bellingham, and Washington state, but I don't yet know how to take advantage of them!
My long term goal is ever changing, but, for now, it is to be able to retire in 15 years with at least $20,000 in monthly, passive income from my property investments. To do that, I want to be a full time investor as soon as possible, but I'm giving myself 5 years to get there. In order to get to the point where I can quit my job, I need to be making at least $5,000 a month in passive income.
So that's me. I'm looking forward to connecting with people and learning more about how to do this properly and for the long haul.
- Robert
