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My husband and I both grew up in So Cal. I moved down to Cabo San Lucas, Mexico in 94. I wanted to have a new adventure and be a beach bum for awhile:)
I worked by bartending on a yacht doing sunset, snorkling and whale watching cruises. My husband moved down to Cabo to do time share sales at a hotel. We met within days of his move there, fell in love and relocated back to California together in 96.
While in California we both went to school, me for the first time and him to finish his BA. We eventually moved to Miami so he could attend law school. While he was in law school I did meaningless jobs that were TOTALLY unfulfilling. After he graduated I eventually enrolled in school for Acupuncture.
After reading Dean's book and getting the nuts and bolts I decided REI is where I wanted to be. With my husbands blessings I withdrew from school and shifted my focus to real estate investing.
I closed my first deal 7/28/08 on a duplex, long distance. My second I bought a few months after the first on 11/10/08. This one is a triplex, purchased close to 40% below FMV, in the same area. My last property was a single family home that I bought as an REO at 48% below FMV. These properties combined put an additional $1250 a month in my pocket after all expenses.
My focus is to continue buying and renting until the market goes up and hits the top again. Then I will do a 1031 exchange, to defer taxes, into a larger income producing property. Or if we decide we want to cash out than we could do that as well. The options available to us are endless thanks to reading Dean's books and using this invaluable web-site he has provided for us!!!
I am thrilled that within months of reading Dean's book my dreams have been transformed into reality! It's crazy to think that at this time last year I was aquiring debt and stressing about tests!!!
My plan is to have our passive income exceed our expenses within the next 5-7 years. This will allow my husband to retire early and fulfill our dreams of traveling the world together and giving back to those less fortunate.
I love Dean's book and this wonderful web-site! It is truely a great motivation, inspiration, and the crutch I need during times of confusion or doubt. Thank you Dean and all of you who log on here daily for your questions and answers!!!
Much love & well wishes,
Angie
Hi Angie
Angie if you end up with a house in the QC at a steal of a price let me know. I may me interested in having you assign one to me. Don't forget to sign it( and/or assigns.)