<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Category: Real Estate Investing... Plans
 

Viewing the 'Real Estate Investing... Plans' Category

My dream of buying an investment property

July 8th, 2007 at 10:03 am


In one of my very first posts titled I'm bored, I was explaining that I wanted to do something meaningful. I still have not come up with a better explanation of what "meaningful" would be, and I have not made real progress in achieving that, but I a working on it.

What I want to do is buy an income producing property (a multi-family house that is).
I have finished both books I was talking about earlier:
Matthew A. Martinez's "2 Years to a Million in Real Estate", and Larry B. Loftis's "Investing in Duplexes, Triplexes, and Qua...

Another goal is mine was to find a real estate investment club, which I did through Meetup.com. I went to one meeting. Shortly after, here's what the organizer had to say on the message board: (this is an exact copy-paste, I wouldn't want you to miss out on the typos and other spelling errors)

I would be remiss if I didn't let all of you who have been in the group but haven't been to a meeting ,and to those of you who have actually come to a meeting,which is the reason for joining
I think.This meeting has attracted such interest,that if you don't like (large groups,alot of very important information,possible media attention,or being confronted by such a great opportunity
that it jeopardizes your dearly held and highly prized"WANNABEE "status,PLEASE DON"T COME>
Space at this meeting is at a premium(voyeurs are not welcome).It will be agreat meeting for all who truly want to improve their life(welcome to those of you who fit this category).

Well, I'm sorry, but I didn't feel really welcome anymore. I don't know what or who he thinks he is. I though I was there to learn, and yes, for now I AM just a wannabee. This totally turned me off, and I haven't been to another meeting, and probably won't go to another one.

So now, I'm working "on my own" so to speak. I read tons of blogs. And, one of the steps I am taking is keeping track of the real estate market in our area. In order to do this I have come up with another spreadsheet (yes, yes, another one...), where I combine all the information about multi-family houses currently on the market. And here is a screenshot:


Step 1 - have all of debt (except mortgage). To that effect, we have come up with a Debt Repayment Plan
Step 2 - I don't really have a step 2 yet. But if I did, it would look something like: "Save up. Use some savings money to put down on a house". I have yet to redefine that one.

Well, here it is for my evil plan to go financially independent.

** Photo from flickr.com

I am bored...

October 19th, 2006 at 08:12 am

... at my job that is!

Confusingly enough, I (almost) like what I do, and I (sort of) enjoy getting up in the morning and going to work. But I'm just getting bored. I was telling my husband I want to do something meaningful. When he asked what I meant by "meaningful", I had a hard time explaining him. I don't necessarily want to change people's lives, or do great things - although that would be nice too. What meaningful means to me is do something where I can see the concrete result. And seating at my computer desk messing around with databases all day long is just not achieving that. I'm just not seeing what I'm doing now as having any kind of importance. We have to put our clients' data in databases and display it, and make them happy. My boss is a neurotic control freak. Constantly complaining that, as the CEO of the company, she shouldn't be taking of small tasks, but she won't let us take care of them without watching over our shoulder constantly. It is a bit annoying and makes us feel not trusted.

But anyway, my point was that I feel I am doing something meaningless... What I'd like to do is become my own boss. I want to buy and rent multi family houses. But we have no even made the first payment on our current mortgage, so now wouldn't be the best time to start that. I am getting myself familiar with the subject though. I read Matthew A. Martinez's "2 Years to a Million in Real Estate" and just got started with Larry B. Loftis's "Investing in Duplexes, Triplexes, and Qua.... They are very interesting, and I'm already learning a few things. They are also good books for buying houses in general.

I am also reading 2million's blog.

What I'd like to find is a real estate investment group around where I live (north of Boston).

I'm always looking for ways to learn more, so if you have any resources/book/websites you think might be useful for me and my new found career dream, feel free!