Starting With The End in Mind.

[Adam Scheetz]

Greetings All, My name is Adam Scheetz and I'm new to BP. I decided to include my Real Estate plan for public critique. Enjoy and Thank You. Mission Statement: I'm 30 years old and have been Active-Duty Military for the last 11 years. I'll retire from military service at 40 years old. At that time, I'd like to own a business that doesn't need me. A self-sustaining, functional, and community improving entity that allows me to not have a NEED to work. Meaning, I'll no longer be burdened by the need to work a salary job to provide for my family. I want to build long-term, passive income that allows me to provide for my family and those on my team. I love the idea of creating jobs for people and allowing them to earn a living. My goal is to create an enterprise that spans real estate and business able to support and grow my team and better my community. A journey of a thousand miles begins with a single step, I believe Real Estate investing is that step. Short Term (1-3 years) - Goal:  1. Begin to generate $500/month net passive income with Buy & Hold investing. -How to Get There: 1. Invest in Single-Family or Multi-Family (preferred) properties with a minimum of 10-12% ROI w/ no more than 20% Down-Payment and a target income of $150 per door @ 100% financing (used for conservative calculations). 2. Use personal bank loans, mortgage lenders, or private equity investors to finance deals. 3. Consider Flipping as a means to generate capital needed to acquire properties. Look for a minimum of $20,000 profit per flip. Partner with experienced House Flipper and if needed take less % in exchange for more deals and experience. Long Term Goals (10 -12 years) -Goal: 1. Have a sustained monthly passive cash flow of $5,000 through multiple Buy & Hold properties with an average ROI from each property of at least 10% of initial investment. 2. Consolidate investment capital into mostly Multi-Family units and Apartments. 3. Diversify portfolio with investment in Self-Storage facilities. (Ultimate Goal) Goals will change and adjust based on circumstance and perhaps it's wishful thinking, but I'd like to start with the end goal -both short and long term- already in mind and formulate the plan to get there. Let me know what you think or where I might improve by thinking to get to where I want to be.  Much Appreciated, Adam

[Caleb Heimsoth]

Adam Scheetz I think most of these are doable depending on where you’re buying. If you’re buying in an expensive part of CA this could take millions to accomplish. It would cost much less elsewhere.

For multifamily residential (2-4 units) if you’re not owner occupying it you’ll need 25 percent down, maybe even 30.

Anything beyond that will also be 25-30 percent down but you’ll have commercial lending terms. (Not 30 year fixed). Hope this helps. Thanks for your service !