REI 2.0 (err 3.0?) Greensboro, North Carolina Intro

[Rodney Walker]

I became interested in REI when I read a Carlton Sheets course in college then came, "Rich Dad, Poor Dad". Things really stuck for me when I got involved with a forum out of Baltimore, Maryland called ***************** started by Steve Cook who now runs lifeonaire.com; also read and lurked a lot on creonline.com site back in the day. Biggerpockets now seems to be the "go to" resource and here I am.

Over the years, I have been involved in about 75-100 transactions. I have some knowledge in the toolbox, but I got completely wiped out in 2010-2011 due to poor planning and a toxic partnership that I should have addressed sooner. I digress. I have recently completed a couple live-in flips, previously completed raw land/timber deals, multiple rehabs, a couple wholesale deals, but mainly stuck to new construction (I am a GC in NC). I also rented my personal house for a year once and was going to build my own rentals as a next phase…….but 2010-2011 happened.

Over the last 8 years - post debacle - I re-directed and poured my heart/soul/everything into bootstrapping the turn-around of a small mfg business that is still turning around (overnight successes take 20 years!) went back to get my MBA for "insurance", etc. I planned that building the business would be part of my retirement and become the hub that would link spokes in the wheel to other streams like getting back into REI. Every year has been "…next year I'll….". Tons of potential with the business still, but I am 43 years old and I can't wait another year - it is time for me to do multiple streams now and play both hands. I have gained inspiration from @Karen Rittenhouse from my area who realized around my age she had to find the right vehicle to become retirement ready.

Ultimately, I still love new construction and am good at it. My goal is to buy what I call “in-fill” lots – lots that didn’t get built out during original construction - in established neighborhoods (or a lot in a good area) in desirable school districts that are in the median home/first time buyer price range. I’d like to build one to sell and one to rent; rolling profit from each new build into each rental. So basically instead of finding deals, create/build them.  I know that there is a lot to weigh with new building costs right now, time to build, location, and other factors/pros/cons all of which I am penciling and navigating.

I am posting this for my own accountability and to connect with others in my geographic area. Thanks for reading and to all who contribute.