Quit my job at 21 years old to become a buy and hold investor!

[Jared Saunders]

Hello everyone! Let me start out by stating how glad I am to have finally pulled the trigger on a BP Pro membership! 

The information on here and investor tools can really accelerate your business to the nest level. Honestly, I have to credit most of everything I know about real estate to BP! Outside of a handful of books that I've read , and learning a few tips from investors I know personally. 

I just launched this venture in September of 2015! After about 6 months of non-stop research previous to that , creating an LLC , and writing a business plan I purchased a 3- unit building using investor cash! I then purchased another 3-Unit building March 1 2016 Turnkey.

P.S. I did all of this being 200 mi away from where I was investing! 

I hope to be able to engage and contribute as much as possible , on both successes and failures that I experience! I am currently going through the purchase process on an 11 unit package deal that involves two 5-unit buildings and a single family home. A lead that came from word of mouth by telling everyone my goal! (learned on BP) 

Having gone through a fair share of luckily small failures on the first deal, that provided me a wonderful learning experience. I was able to seamlessly transition the 2nd deal into immediately cash flowing $250 per unit! With a 125% ROI in the first year!

[Jared Saunders]

That certainly is something I would love to share! @Jason Birney

To answer your question of starting an LLC , I say yes! The feedback I kept receiving from a lot of people was that I was getting ahead of myself, that I don't need to worry about it now with only 1 property, wait till i'm larger, etc. I chose to actually do it for 3 main reasons. Reason #1 is because I wanted to have a legitimate scalable operation from day 1. Reason #2 I knew people would take me more seriously if I had more of a corporate structure . (ie. investors, banks, realtors, potential sellers) Reason #3 is simply to protect your liabilities and limit risk. The business plan just went along with the LLC to me , I was lucky enough to have been in the upper management of a Nationwide cell phone carrier previous to this endeavor. Which taught me a lot about corporate structure!

There is a Podcast recently put up that reminded me of myself somewhat and really inspired me to contribute more to BP. That podcast is # 143 , the gentleman put it in a great way." Operate even just 1 property as if you own 100." Also what @Brandon Turner stated about giving off the perception that you are just another employee of the company helps a lot with tenants and contractors! 

I would like to write a discussion based around how I actually went about starting the business and going forward with the deal.

Let me know if any of you think it would be helpful for a more detailed version in an educational format!