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Updated almost 6 years ago on . Most recent reply

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1,234
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Mike McKinzie
  • Investor
  • Westminster, CO
1,197
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1,234
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WOW! Ten years already!!

Mike McKinzie
  • Investor
  • Westminster, CO
Posted

I just checked my profile and see that I joined BiggerPockets in May, 2009. It's hard to believe that it is ten years now. BP has been such a blessing, I want to say THANK YOU to Josh and Brandon and the rest of the staff. Due to contacts here, I have bought rental property in TN and MO. I found a great Property Manager in Fresno (after going through 5 BAD ones). I invested in my first Multi Family Syndication! I found a Realtor in the Denver, CO area and have closed one rental, am under contract for a new Personal Residence and searching for another rental. I learned a lot about different types of investing. And hopefully, I have helped a person or two with their REI journey. It's also been fun to debate, converse and cajole with other investor's on BP. Whether it is the subject of "$30,000" houses or "Cap Rates" or even "Owning Class D properties where you have to carry to collect rents!" And let's not forget the "50% Rule" where I analyzed a survey of 1.1 MILLION apartments and came to a 49.98% expense. I just ran my properties for the last six years and came to a 51.3% expense (caveat is 6 new roofs last year). It has been, and will continue to be, a great learning and sharing platform here on BiggerPockets. In Today's market, things are a little tougher, we made an ALL CASH, full price offer for a house in Colorado Springs and got beat by a 10% OVER asking price, all cash offer. But it's the information on BP that helps us understand why and how to get around such obstacles. So THANK YOU again, Josh and Brandon!

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