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Beginning: As Gary Vee says Document, Don't Create Investor Journey
Hello, my name is Jared and I over the last few weeks I have been called to document my journey and what has lead to my real estate investing. I have never thought of anything I have done in life as particularly unique or even that people would be inspired or interested in my story or journey. I have always loved teaching and coaching but I find it truly satisfying only when it is with someone who wants to be taught or coached. I also have never really liked talking about myself. For these reasons I thought writing and blogging were for other people but I find so much inspiration from others in this community and I hope someone can get something from my story.
The final tipping point came when I listened to a Gary Vee Podcast where he talked about documenting the journey not creating content. Even if just you or your loved ones read it. It will be so important to them and to myself when I look back at my journey. You do not need to be an expert to lead or blog or inspire or document you just need to be willing to do the work.
Lastly, as I continue this blog I have this compelling urge to end each blog with what I am looking for/goals. Not only do I believe this will be cool to see change as the weeks, months and years go on I firmly believe you need to put your goals and aspirations into the universe.
The Beginning:
It is hard to nail down the exact date or year it all started for me but I can tell you where it started for my family. My grandfather was the mayor of our town of about 80,000 people. As he was leaving the mayor's office he looked for a "retirement" job in which he purchased 8 duplexes all on the same street. I remember him telling me he cashed in his IRAs for the downpayment. I do not know exactly what the purchase price was but I remember it being somewhere around the 300,000 mark. About 30% of them were rented and many needed maintenance and upgrades.
With no real building or construction experience, limited handyman skills, and no support from anyone other then my grandma. They had the units fully rented in a few months. To this day I still marvel at his bold leap into real estate.
My journey has had ups and downs but I have had the privilege of standing on the shoulders of giants and Youtube to answer my questions. To do this without any support seems like a daunting task to me. My grandfather was a doer. He took calculated risks and always had a positive disposition on life. I believe I inherited these traits from him but I am blown away at the plunge he took. Something I wish I would have talked to him more about.
I was not born yet but this was the start of rental investing in our family.
Thank you for reading and I look forward to picking up on this story soon!
Goals: 2 investments owned with partners by 2022; 2 million in real estate sales as an agent by 2022, Live in BRRR generating income by April of 2022
What I need: I want to learn more about USDA properties, I want to learn more about income restricted development and how I can start a project, I want a BRR property in Eastern Iowa.
Comments (2)
I can certainly align with sime of your, as is like to own more property as well. Preferably a rental.
what is a BRRR?
Would you ever consider motel ownership?
Jason Grady, almost 4 years ago
Jason. It is great to hear from you! A BRRR is an acronym for Buy, Rehab, Rent, Refinance. Essentially it is a flip but instead of selling it you use it as a long-term rental. People like doing it because if they do it right they are able to get their down-payment back out after refinance and can go do it again instead of needing to save up another down payment.
I think I would if it was a good deal! Have you heard about the Patel Family? They basically started by buying a motel and fixing it up and living in a room and renting the others and now they own the most hotels in the USA I believe.
Jared Hottle, almost 4 years ago