Starting out w/$250K...WHAT WOULD YOU DO?

Question

If you could begin your RE journey all over again knowing what you know now, how would you invest $250,000.00...??!!!

I'm a recent US Navy Veteran currently residing in California; and over the past 6 mths I've found myself 24/7 compiling all the statistical data I can utilize to dial in to which market I'll be breaking into the multifamily rental property game. I've decided on my coordinates...the San Antonio - Dallas - Houston triangle; now the decision how to use that $250K in the most logical manner possible.

My goal: to attain 1,000 unit's in less than 20 year's using the @BrandonTurner and @GrantCardone methodology.

So; respectfully I ask...if you were me and had $250K in capital to begin this journey to achieve a goal of 1,000 unit's in 20 year's knowing everything you know now...what would you do?

Kevin Wood · Answer

Account Closed I've gone from 0-78 units in 3 years. Have another 52 under contract as of last week. There is no secret to it other than grinding out searching for deals. The first thing you need to do is buy your first house. Regardless of what you do buying your first house should be the first step for most people. To learn your submarkets read the business journals of cities you are interested in and focus on all the real estate/development news. My business partner was in the Navy as well best of luck.

Alina Trigub · Answer

Account Closed

Welcome to BP community! Thank you for your service sir!

You're in a great place to learn and network - BP is a great resource for both. So spend some time here. Your plan should be:

1) Get educated through books, podcasts, networking

2) Build your team

3) Take action

Best of luck!

Caleb Heimsoth · Answer

Sarcasm aside if you use the search function you’ll find lots of threads asking the very question you asked.  That’s why I said what I said.

Good luck

Account Closed · Answer

@Kevin Wood I appreciate your response, thank you! Now THAT'S the expeditious route I'm interested in laying out before me...congrats on your 130 units in 3+ years!! Typical Navy DNA dotting all i's and crossing all t's; I have many spreadsheet's of compiled statistical data breaking down every category beneficial to a potential market I may be interested in. You know how it is though...your first deal prior to it, you're picking everyone's brain for any potential useful intel before you pull the trigger. If I'm ever near your way, I'll reach out. Tell your partner, Hooyah! Cheers.

Account Closed · Answer

@Alina Trigub I appreciate your response, thank you! x 2

I'll take your advice and I also agree w/you...BP is a vast source of wealth...knowledgeable wealth that is!! Cheers.

Account Closed · Answer

@Caleb Heimsoth

I appreciate your response... even though it is somewhat arrogant. Curious about your response, so I went and read your profile...now I understand!

Your thought process is way too minimal and inhibits your ability to greatness...with all that 'educational knowledge' you achieved, why are you holding your future abilities back by expecting only 20 unit's from 2020-2030?! For one, and this is just my personal opinion based upon all my DD...I'd get into markets where the job growth is substantial as is the migration, purchase 'B' class properties so your ability to raise the rent at a minimum 3.5% national average is achieved annually and many other factors I'd suggest as well, but the biggest would be to look elsewhere other than Memphis, etc.

As for getting to 1,000 units within 20 year's it's very possible! Every 3-5 years I'll move up in unit's...ie. 8-12 to 32 to 80 to 150 to 400 to 1,000...

Good luck and much success to you!

Caleb Heimsoth · Answer

@Frank D'Andrea III. Read the billion threads that ask this super generic and vague question over and over again (only thing that varies is the amount of money).

I can tell you youll need a lot more money to acquire thousands of units

Starting out w/$250K...WHAT WOULD YOU DO?

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