Hello BP Family,
My name is Parker Grissom and I new to BP. First, just a little back ground on me before we dive in. My brother and I lost our Mom to cancer in October of 2014. Our Mom was an amazing person. We could not have asked for a better person to raise us, mentor us, and love us. She taught us to work hard and never give up. She is the reason I am here now on BP. My brother and I seek advice on how to start our real estate investing career. We wish to continue to grow the wealth she left behind to us. To give back to the generations to come just like she did for us.
My brother and I are both in our mid 20's and work full time. We both have decent jobs with good benefits and all that jazz. But, we recognize that there is more to life than punching the clock, sitting in a cubicle, and counting down the years to retirement. We want sieze our future now rather than waiting for it 30 years from now. We understand that real estate investing is that vehicle that can get us there. We want expand the finacial wealth our Mom left us and real estate investing is how we want to do it.
Finding Bigger Pockets has fueled our desire to start investing ASAP. We are currently researching all we can to gain knowledge and insight to avoid common mistakes. We are listening to every BP podcast we can. I am currently reading "The Million Dollar Real Estate Investor" by Gary Keller. I have reached out to a local REI group and will meet with them next month. We seek advice from you all on how to continue to gain knowledge.
Our Mom blessed us with an opportunity that most people don't have. She had a successful career and always saved more than she spent. We understand the fortunate position we are in and we wish to take full advantage of it. Our trust fund is currently invested in growth stock mutual funds through a managing firm and we have been very happy with the results. However, we wish to move into the real estate rental game.
The current stragety we have chosen is to buy and hold multifamily and single family properties and rent them out. We wish to focus more on multi unit because from I have researched, they have more upside potential. The capital we have starting out would allow us to acquire them easily. With our inheritance, putting down payments on many properties would not be an issue. Eventually, we wish to acquire enough properties with enough cash flow to quit our jobs and invest full time.
My question to you all is:
What would you do if you were in our shoes?
What mistakes should we look out for?
What books would you reccomend?
Should we consider a different stragety because of the furtunate position we are in?
Any and ALL advice is welcome.
Thank you in advance,
Parker Grissom
