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Updated over 7 years ago on . Most recent reply

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15
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10
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Jotham Busfield
  • Framingham, MA
10
Votes |
15
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Thanks to BP Community

Jotham Busfield
  • Framingham, MA
Posted

I am reaching out to thank Brandon, Josh, and the whole BP community. My wife and I just bought our first rental property recently in MA, have our second one under agreement now, and it would not be possible without BP, especially the podcast.

Around March of 2017 we wanted to start learning more about flipping, so I bought J. Scott's book, which clued us into BP, started listening to as many podcast episodes as I could, I think I have listened to at least 100, probably somewhere in the 125-150 range. This lead to the BP website and about 15 books recommended on podcast episodes. I read those and decided to pivot to buy and hold instead of flipping, mainly due to me working 70-90 hours per week at my other two jobs (I own my own coaching/therapy business in Lexington, MA called Think-diff Institute and also work full-time at the VA in Boston with homeless Veterans). The flipping project management seemed too time intensive for now, but we might incorporate that into some BRRRR projects down the road. Anyway, we did market research, settled on two areas of MA (Springfield and Worcester) and started putting together our team. We have done about 40-50 showings, which was a lot of work because it was always on Sundays (my only day off) but it allowed us to run numbers using the BP calculators and get a feel for the market prior to acting. Our first deal came from a For Sale By Owner opportunity because we were basically driving for dollars and investigating properties from MLS and from a listserv list, when we came across a for sale sign in a window of a three family house, called the number, owner occupant answered and let us in to see all three units, we drafted our own P+S that night and closed recently. I am using almost all of the BP tenant forms, and the book Brandon and his wife wrote on rental property investing (and the one on management) was extremely helpful for us.

I also followed a lot of BP forum threads and posted questions myself, with other BP member always willing to go out of their way to provide helpful information.

Because of BP, we are putting together a portfolio that will allow us to travel the world and retire early. Without BP, this would not have happened. So thank you, we really appreciate it! I hope this is another example of how even when working 70+ hours a week, real estate investing can still happen!

Jotham Busfield, Gorkha Properties

Most Popular Reply

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3,415
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4,015
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Charlie MacPherson
  • China, ME
4,015
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3,415
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Charlie MacPherson
  • China, ME
Replied

@Jotham Busfield Congrats!

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