All Forum Posts by: Mike Baker

I had a business that I have been taking payments on and the people who bought it are now paying it off. That's where the money is coming from.

I do not owe on any credit cards, as we pay them off every time we use them.

I appreciate the advice on 401k's, and I have a lot of friends who participate in them, but I personally feel they are not a good investment. I don't care for how they are managed, and my employer doesn't match anything at this point in time.

My wife and I have been studying RE for about 3-4 years now.

We do not have very much in savings, and we do live paycheck to paycheck, but we have always been pushing to get out of the rat race, through business's we've done and what not. That is really the main reason we don't have much in the way of savings. We are far from spendthrifts.

I appreciate the feedback, and just so you guys know, I have a thick skin, so continue to be honest.

Thanks,

Mike

So my wife and I are about to end up with about $8000.

How would I best maximize my money in real estate?

I want to manage my risk wisely.

My wife and I are primarily interested in buy and hold.

Any input will be greatly appreciated.

Mike

Well, I'm 43, so at this point I'm more interested in buy and holds, but I know I need to be doing wholesales as well.

I'm also interested in multi-family as well as single family properties.

Really my main goal is to not need a job by 50, so I can catch up on time lost with my wife and kids ( if that's humanly possible).

My name is Mike Baker, and I live in south central Montana.

I am an Army Vet, the father of five boys, and currently a plumber.

My wife and I have been studying real estate investing for the last few years, through Rich Dad, and Dean Graziozi. We haven't made the leap more out of fear then anything else.

We are looking, at this point, just to get our first deal out of the way so we can move forward.

Thanks for having us.

Mike