New Member introduction - Cypress, TX

[Doug McLeod]

My wife and I joined a RE mentoring and education group in the Houston, TX about a year ago and decided to pursue SFRs as a way to supplement retirement savings/income with a view toward possibly shifting to Apartments in future.

This all started 6 or 7 years ago when my brother recommended Rich Dad, Poor Dad to us.  When we moved to a larger house a few years ago we kept our old home as a rental - knowing nothing about any best practices on how to do that, but we've been fortunate.

Since joining the mentoring and education group, we've acquired 3 more SFRs and are set to close on another - first 3 are rehabbed, rented, and cash-flowing nicely and 4th one is nearly rent ready from the get-go.  We had a tentative goal of one per quarter and we're on track with that.  We've financed each property a little differently - conventional, hard-money, cash (from personal and private money sources). It's fun to find a decent deal and see how to turn it into a better one with creative financing while also giving others a good return on their money.

Doug