J R Dorsainvil - Bronx, NY - Somewhat Newbie

[JRD Mondial]

Hi Everyone,

I'm new to the Bigger Pockets community and wanted to introduce myself. I'm a co-owner of an Edible Arrangements franchise in Westchester County, NY. Just made 5 years this past February. I'm an entrepreneur at heart, could not stomach my first professional job out of college. Have never held a full time professional position for more than 8 months. It's just not for me. Real estate peaked my interest in the mid '00s. I jumped in in 2006. Started off mostly reading a bunch of books. "Rich Dad, Poor Dad" really opened my eyes. I saw the world in a whole new light after that book. I participated in local real estate investment club meetings and have attended seminars. Around that time I did get close to closing some deals. I've had sellers accept offers and pull out when a better one came along - didn't get the contract out fast enough. In 08, I was making moves on a 12 unit. Got the seller to hold a note for 10%, was approved for 80% from the bank, but I hadn't gotten the balance figured out yet. Well, unfortunately that's when financial institutions started to fail, the investors I had lined up bailed, the deal fell apart. Rather than stick with RE, I decided I would go into franchising business. It seemed like a smart move at the time. Got some partners together, purchased a failed Edible Arrangements franchise and have spent the last few years building that up. I've been itching to get back in RE investing and here I am.

My immediate goal is to start out with rehab & flipping. I intend to successfully complete a deal by 8/31/15. I will buy and hold when the opportunity presents itself. My intermediate goal is to build a portfolio of multifamily, 20+ Units. Long term, I want to get into development.

I've been devouring the BP podcast. I know there are some amazing investors utilizing this platform. My hope is that I'll be able to make a solid contribution to the community and that we can get to know each other well. 

Thx

[JRD Mondial]

That they do James, that they do. It's been quite the education. It was a failed stored when it was acquired. Put a lot of work into building it up. Now it's starting to show signs of being the business I always thought it could be. But I've been dying to get back into RE. 

How are things in Cleveland? You guys have been making some noise in the sports world lately. The browns gonna give Johnny Football a real shot or what?