Hotel Industry Expert in Springfield, Missouri

[William Busch]

Hi BP community!

My name is William Busch, 26 years young, and I live and work in Springfield, MO. I just recently moved here after living 25 years in Germany as a missionary kid. My dream is to eventually own a hotel and I have been pursuing this dream, yet the whole time not knowing how to go about it. Last year I became a certified hotel intustry expert and moved to the U.S. to get an actual degree.

That's when I came across BP! I honestly don't remember how exactly it came about, but I listened to some of the podcast and webinars and after the first webinar we all received he free ebook about 7 figures in 7 year. That's when it hit me. Real estate is the way to get to my dream.

My gameplay is now the following:

Triplexes and fourplexes are rare here in Springfield, MO so I have to modify the 7 year plan accordingly but in gist: 

1. Save up some cash, since I came here with nothing at all and don't like the debt on my car, but like a buffer.

2. I will house hack a duplex, fix up the side I'm living in, switch sides and rent out the nicer side while living and fixing the other side. Refi, and move to a new duplex while cash flowing on the first one. 

3. Rinse and repeat.

4. Once I build some equity, trade up and follow the "7 figures in 7 years" plan, but obviously not in 7 years. But possibly.

5. Eventually trade up to apartments and then to a hotel.

Basically I'm taking it one step further from the apartments in the book.

Why Springfield? Springfield is turning around! It does have quite the high crime rate, but decent schools, and big wigs like the McQuery family and many others trying to bring Springfield back to life as the birthplace of route66. I am working with the McQuery family and IDM to open the Hotel Vandivort (the first boutique hotel in Springfield) downtown, which hopefully give Springfield the push it needs to really take of.

I also just found out that my Assoc. College pastor is actually also a Realator! So I'm hoping to be able to work with him.

I am currently devouring "the book on investing in real estate with no (and low) money down" and I'm loving it! I already ordered the combo for estimating rehab costs and flipping houses. I can't wait to read them!

I look forward to learning more from the BP community and hope to be able to close my first deal beginning of next year. Until then I will continue calculating deals that I find to familiarize myself with the BP calculator.

Best regards