Starting Out Goals

[Harrison Jones]

Experienced Investors given the changes that have been witness throughout the market over the last decade. I'm sure both goals and expectations have altered since you have began investing. What expectation and goals would you recommend new investors have when beginning their journey? How has your expectations changed over the recent years?

[Randall Alan]

Quote from @Harrison Jones:

Experienced Investors given the changes that have been witness throughout the market over the last decade. I'm sure both goals and expectations have altered since you have began investing. What expectation and goals would you recommend new investors have when beginning their journey? How has your expectations changed over the recent years?

@Harrison Jones

There are many spokes on the real estate wheel… so it is hard to know how to answer your question, but as to rentals… know that it is not a get rich quick game… it’s often a $300/month/rental door game.  When you start off it isn’t super sexy… $300 extra dollars a month isn’t much to get excited about… until you build it to 3-4 rentals… and suddenly it’s an extra $1,200 a month… then $1,500, $1800, and $2,100.  Along the way you get better at deals and it’s no longer $300/month but you start finding $500/month, and even $800/month.  So it sort of snowballs to the point you are standing there going “Why didn’t I do this sooner!?!”  We’re at 37 doors with over a $600/door average - including having sold / flipped 6 properties along the way for great profits (all in 5 years).  I’ll let you do the math on that to see how excited I am about real estate!!  
We’ve also seen our properties pretty much triple in value in that same time frame… so while we still hold onto them, when we do sell we will see some very nice appreciation! 

As for goals… it should be “to start”.  That’s the hardest one to achieve… after that the rest gets easier.  

All the best!  
Randy