All Forum Posts by: Stormy Harvey

Thanks for the great responses! It is very encouraging. I think we made the big American mistake and incurred the bad debt versus the good debt. In hindsight, I think Americans are grossly uneducated and misinformed as it relates to finances. I wish, 20 years ago, someone would have explained the difference to me. It pains me now, to see the amount of bad debt / interest I have paid over the years. And yes, every time I submit a payment towards dramatically reducing the bad debt -- it puts a smile on my face and a little more weight is lifted off my shoulders. I could go on and on about that topic, but I'll digress and leave that discussion for another day.

Given my legal background, we were initially considering buying "at" foreclosure. However, as we all know, (in Texas) that requires immediate payment at sale. Since capital is a bit of an issue for reasons previously discussed, we believe that while "at" foreclosure is our desired entry point, we may need to be considering other entry points.

The first topic that comes to mind are the sub2 deals / wholesaling. Neither of us are willing to admit as a new investor that we know it all, but we have a good, general sense of the market in the DFW area and believe that we can find motivated sellers. As such, our goal in the next 9-12 months is to network with others / find out common goals and actually deliver to others already in the game. We have skill, knowledge and the willingness to work hard and learn from others. We are coming to the table to figure out how we can contribute to everyone's success. The perfect scenario for us would be to identify someone who would take us under their wing.

Honestly, the end-game for us would be to flip houses. When I graduated from college, I promised myself that I would retire by 55, and I have every intention of sticking to that promise. Our time-frame for retirement has a 10 year window with a few years to spare, and within that 10 years, we hope to develop retirement opportunities and hopefully leave behind a business for our sons to take over and pave a lifestyle of their own choosing. (we have 4 of them -- 17, 16, 13 and 10).

We have every intention of making the BP DFW meeting and look forward to making some great connections.

Thanks to everyone.

S

Hello Bigger Pockets! My husband and I have been studying BP for a while now and we are incredibly intrigued at the volume and wealth of information you have provided. For that, we say thanks. Our story is fairly simple – that is, we are finally getting to that phase in life where we can see the light at the end of the tunnel. Credit card debt is vanishing, and for the first time in our lives, we are looking at having extra money left over. SMH! With that in mind, we want to put our money to work for us for retirement. We are still about a year out from having enough capital to start with (ie: down payment and rehab costs), but we are here, we are watching and we will be ready to roll in the DFW, Texas area in the near future.

Brandon, if you’re watching the new member intros, we would like to specifically request to hear a podcast interview of foreclosure sale buyers and their success stories. Most of what we see and hear is related to pre-foreclosure and post-foreclosure success. What stories are out there to be told about parties who actually buy at foreclosure?

My husband and I have been researching various aspects of becoming investors. One consistent theme is the recommendation to pursue a real estate license, which I am heavily considering. However, what is the recommendation on obtaining an inspector license as well? It seems to us that it may possibly make sense to know what rehab problems you are looking at in advance of pursuing a property and incurring the expense for an inspection. What is the consensus on this topic?