28 y/o Female – 50k debt to 10k/mo+ passive income, 100 deals/yr

[Arianne L.]

Last year, I shared my story here on BP . Please read for more background info. @Chris Lemire and I are here to give you guys an update!

Our progression:

June 2015 - 50k in debt. joined Biggerpockets. Started learning about REI. Started taking action

Dec 2015 – closed on our first rental (technically our primary residence but purchased on rental criteria)

Feb 2016 – closed on purchase of 2nd rental (bp post - rental case study) and 1st flip

June 2016 – sold 1st flip (concept proven). Started building a flipping business

October 2016 – went to Flip Hacking Live event to learn how to build a flipping business in San Diego and joined a mastermind group

Nov-Dec 2016 – bought more flips

2017 – sold 15 flips and 35 wholesales (bp post - flip case study)

2018 

– Closed on local 24 unit multifamily property. 

- Limited partners in 250+ unit apartment complex. 

- Flipping business did 21 flips and 35 wholesales

2019  

- 24 unit value add strategy now complete 

- closed on an additional 400 units as limited partners and general partners 

- Flipping business - our awesome team is on track to do 100+ deals 

- Goal is to close another 250+ units as limited partners and general partners before the end of 2019

A closer look at our flipping/wholesaling business

We have an amazing team of 10 including Chris and I that run this business. Couldn't do it without all of them. Right now we have 25 flips on the board and 60 wholesales. Goal is to finish 2019 and sell all the 25 flips and 75+ wholesales

A closer look at the 24-unit deal
@Chris Lemire executed the value add strategy. We renovated 8 1980 vintage units and brought all rents to market ($875-900). Cashflow is $100,000+ pear year after all expenses, debt service, etc.

A closer look at the 630 units

We partnered with great sponsors in the multifamily space and are limited partners (passive investors) and also general partners (active part of the sponsorship team). The complexes are all in the southeast (Atlanta GA, Beaumont TX, Savannah GA) all managed by professional management and are cashflowing well. We'll be closing on another 250+ units before the end of the year

Thoughts and thanks

It's crazy to think how...

-3 years ago we couldn't go to NZ for a family emergency - we couldn't afford last minute plane tickets, and were afraid to lose our jobs if we left

-5 years ago we were deep in debt (Negative $50,000 net worth)

-6 years ago our "first home" was a long term stay motel and I couldn't get a job in the usa

-10 years ago I was working a minimum wage job while going to school to help my family pay the bills

-15 years ago my little sister, brother, mom and I lived in a 100 sqft studio in Manila and my goal in life was to make $5 an hour so I could help provide for my family

Now....

🏢 We're buying large apartment complexes with amazing partners 

🏋️‍♂️ We've got a rockstar team who buys/sells 100+ investment houses a year.

✈️ We'll be spending 4 weeks in New Zealand, Australia and Hawaii with Chris' family and mine.

Thank you to Biggerpockets for providing an amazing platform for learning and networking. We met so many people through here, that have become mentors and partners that allowed to get where we are. If it weren't for us connecting with @William Allen here on BP, and him inviting us to Flip Hacking Live 3 years ago, we wouldn't be doing this now. 

If you have any questions please post here and I'll do my best to help!