2017 Goals and progress made from 4/2015 startting

[William Collins]

Here is an accountability entry for progress towards my goals.  My goal is to try to get to the point I have fully augmented my day job salary through either A) Breweries (as I love beer and own 20% of one now), or B) Real estate.  All of these are being run around a dayjob which is 50 hours/week, the brewery, a small hobby shop, and having a family wife, 7 year old daughter, and a 6 month old daughter.  

As real estate is a much easier incremental vehicle I began investing with my cousin in April of 2015. Here is our progress so far and the goal I am aiming for by March of 2020 to have a cash flow of 10,000 per month.  Each deal has a minimum cash flow of 100 per partner per door (I will use 100 to simplify thing though each of these is really from 125 to 200/ per month/parter). In summary we will be just over 1/5 of the way in 2 years, but our acquisitions are increasing in velocity.

As I look to increase velocity the biggest issue is cash flow management where our private money reserves get stretched and slows our roll down.   We are looking at how to overcome this long term, we just happen to have 5 properties in various renovation stages. 

2015:

Triplex in New Britain- BRRRR complete and fully operational.

2625 Rent Roll 100,000 acquisition 50,000 renovation, 140,000 refinance out 190,000 valuation (Regional Bank)

Total so far 3 Doors:  $300 Cashflow/ month per partner (all reinvesting) 

Duplex in Manchester- BRRRR started in October 2015 completed in April 2016

2500 Rent Roll 60,000 acquisition 60,000 renovation, 140,000 refinance out 190,000 valuation. (Regional Bank)

Total so far 5 Doors: $500 Cashflow/ month per partner (all reinvesting) 

2016: 

April- Duplex in New Britain- Auction.com buy at the refinance stage.

2475 rent roll 75,000 acquisition 30,000 renovation, Refinanced out 115,000, Valuation of 165,000

Total so far 7 Doors: $700 Cashflow/ month per partner (all reinvesting)

Duplex in New Britain - bad foundation renovation done this month

2600 rent roll,  85,000 acquisition 30,000 renovation,  refinance out (Monday) 115,000 valuation came in at 220,000!  (Regional Bank)

Total so far 9  Doors: $900 Cashflow/ month per partner (all reinvesting) 

Duplex in Manchester - acquired from wholesaler half rented, full interior completion by 2/14/2016

2300 rent estimation 77,000 acquisition, 35,000 renovation,looking to refinance out 120,000 for a 170,000 valuation (Looking to use B2R)

Total so far 11 Doors: $1100 Cashflow/ month per partner (all reinvesting) 

Duplex in Manchester - MLS deal.

2500 rent estimation 70,000 acquisition 60,00 renovation, looking to refinance out 140,000 of a 200,000 ARV. Current progress- gutted down (100 yards removed)- reframing inspection passed.

Projected Total as of 4/17 far 13 Doors: $1300 Cashflow/ month per partner (all reinvesting)

2017:

Duplex in Manchester- acquired from Hubzu 2016

2500 rent estimation 78,000 acquisition, 35,000 renovation,looking to refinance out 120,000 for a 190,000 valuation (Looking to use B2R)- dumpster dropped and ready to roll

Projected total Total 5/17 so far 15 Doors: $1500 Cashflow/ month per partner (all reinvesting) 

Triplex in Berlin - acquired from Hubzu 2016 

3600 rent estimation 125,000 acquisition, 65,000 renovation,looking to refinance out 170,000 for a 300,000 valuation closing on 2/15.

Projected Total  7/17 so far 18 Doors: $1800 Cashflow/ month per partner (all reinvesting)