Are You Influencing the People Around You?

[Benjamin Riehle]

If you look how many wealthy investors started, you will find they started with a single home. That is why I take great pride when a member of my team acquires their first property. I have seen firsthand how real estate investing results in building wealth. In an attempt to encourage and support other first time investors out there I have outlined a few of my team members that are currently under contract or recently purchased their first investment property within the last year. 

The first team members under contract on his first investment property is Scott (you can read about his success here: https://www.biggerpockets.com/forums/21/topics/479285-purposeful-action-leads-to-massive-results-agent-success-story) He is under contract to purchase a duplex, which will allow him to live for free. He is an investment specialist on my team in Tucson and has been a rock star from the start. He reached out to me on BP a year and a half ago. He was looking to learn about a career in real estate and joined my team as an intern. I am very proud of his achievements and can’t wait to see him continue on his journey of wealth building and living a life by design.

Here is his deal breakdown:
Purchase Price: $255,000
Down Payment 5%: $12,750
Mortgage Payment: $1,731
Rent: $1350 & $1200 (Scott will be occupying the $1,200 unit)
Payment Out of Pocket: $381
                                                                                

The head of our marketing department is also under contract on his first property. He has been a part of our team for over two years, and for the last year has been on a mission to grow wealth through real estate. David is the type of person that will set goals and take massive action to achieve them. He will be purchasing a triplex, allowing him to live for free in one unit while renting out the other two to cover his mortgage.

Here is his deal breakdown:
Purchase Price: $230,000
Down Payment 5%: $11,500
Mortgage Payment: $1,608
Rent: $1000, $800, $600 (Will be occupying the $600 unit)
Cash Flow: $192

Richard, our transaction coordinator, and my brother, Nick, our director of operations, partnered up and purchased a five-bedroom, three bath house in Tucson 7 months ago. Currently, they are living in the house, with three other roommates that cover the majority of the mortgage.  Starting in August the home will be rented for $1,700 per month, which is 500 dollars over the mortgage. They are going to purchase their second investment property in January 2019.

Here is their deal breakdown:
Purchase Price: $189,000
Down Payment (3% conventional): $5,760
Value Add: ~$5000 (Installation of A/C, plumbing updates, and miscellaneous items)
Rent form September 2017-July 2018: $11,400 (Owner Occupied & rented other rooms)
Rent from August 2018 to July 2018: $18,000

Brian Glasser, the Team Leader in Kansas City, has hit the ground running with building his real estate investment portfolio. His first property was a SFH in the heart of Kansas City. He quickly moved to acquire a second SFH which he operates as an Air BnB. He also is a part owner of a duplex that is under remodel. Brian will be purchasing his fourth home at the end of July. This is a two bedroom house that is being fully renovated. Once complete he will move into this home and already has the second room rented. His roommate will cover a majority of his mortgage, allowing Brian to continue to save towards purchasing his next property. He joined the company this past January and has taken massive action in building his real estate team and real estate portfolio. He is quickly becoming a top agent in Kansas City, and I am very excited to have him as a part of my team.

Here is his deal breakdown: (airBnB)
Purchase Price: $106,500
Down Payment: $5,323
Mortgage Payment: $671
Average Monthly Income: $2,200
Cash Flow After Mortgage: $1,529

This post only shared a few of the team members who have taken the necessary steps to achieve financial freedom. Using my own journey, I have been able to pull the curtain back on real estate investing showing my friends, family and team members how, with massive action, it is possible to gain wealth through real estate.  As I continue to achieve my goals, I want to continue to show as many people as possible what can be achieved through real estate investing.

Have a purposeful day,

Ben Riehle