Investor in Quincy IL looking for a Fresh Start

[John Baughman]

My name is John Baughman from Quincy IL.  I sell farm buildings and manage projects. I'm re-engaging in real estate because I'd like to supplement my income and make it easier to fund my kids college. That's my present.

My past in real estate was rocky.  In 2007, I busted out of analysis paralysis to start investing in the St. Louis market fast and furious.  I bought a 4-fam that had problems but cashflowed.  I also bought 2 single-family homes for rehab.  The plan being to fix and sell or fix and hold.  I had good credit and a good job so money was easy.  I bought 1 more single-fam (for a total of 3 unfinished rehabs) and I was spread way too thin.  The market turned quickly and it all spun out of control.  My job at the time was as a project manager in residential real estate development.  So when the market tanked, not only did my investments tank, but my primary source of income evaporated as well.  Long story short, I was without good income, and eventually went bankrupt and lost my properties as well as my personal home.  There was more to the story than just real estate, but my eagerness allowed me to go too far too fast.  A mistake I don't intend to repeat. 

Recently, I've been thinking about a fresh start.  I've been risk adverse because I don't want to go through that again.  But my aversion to risk is going to leave me penniless as a retiree.  Some risks need to be taken.  I am here at BP to RE-train.  RE-tool. RE-imagine the possibilities.  I'm here to RE-engage.