All Forum Posts by: Aaron Hunt

Why we got “specialists” from Dayton, Ohio defending where they live based on distance to national highways and their extended “family” making $500k/month? 

Need to go back and read my post that got the up-votes - for a reason. 

Huge difference between SoCal/Austin vs the hood or boonies; and also betwen someone who earns in the Top 1% vs the US average household income which is 1/10th that amount. (Although, maybe the average BP’er makes slightly more than that.)

Net even works for me. W2 is high. Okay with write offs.

Appreciation on Class A (or at worse Class B) or bust.

If you feel that way, you’re doing real world wrong.

Real world >>> 4 years of college

@Joe Villeneuve

That’s a hell of lot of debt (for most) to figure out “how to learn”.

I’m anti-US college for the simple reason that no one can come up with a good reason why we need to go to a college for 4 years here and take a bunch of classes that most have the bandwidth to handle in high school.

The US undergrad system is a scheme at best and scam at worse. I realized 2 years and 60+ credits into an expensive engineering program and dropped out cold. Went overseas on the cheap to do what I wanted, and then came back.

Main reason I didn’t like it is cause the cost is not at all justified. They also gladly take your money and have ridiculous majors and classes available for kids trying to still “find themselves” that are useful to nobody except those they employ as professors.

Unless you’re going to a top tier college where the name on the resume and networking actually mean something, you might as well go to the local community college and save the money.

I hated all things school so I’m biased. College included. I was constantly findings ways to hustle. Still wound up doing 20 years of it in total.

I did it knowing my target all along was securing a job that I actually don’t hate day to day, which can provide me significant capital to invest on my own.

In hard numbers, my juvenile dream was to sign a quarter million dollar contract. I did what was needed to reach that target and no more.

Great thread. Have been following along in the background for a while as I've been steadily growing my turn-key portfolio.

So far ours have all been strictly self-funded, with our household discretionary income, and we have limited ourselves to conventional lending.

Have wanted to get into more of a rehab model, and also start using hard money/portfolio lending, but was hesitant to do so as I was still building my team on the ground remotely from across the country.

Luckily, everything has been stable, and it looks like I should be able to get that underway shortly. Will definitely be taking some tips/tricks from your awesome thread.

Agreed, although I'm definitely rooting for OP, this doesn't sit well in the near term. That's pretty thin. One major repair on any of the 15 units and it's going to wipe out a HUGE chunk of cash flow for the entire year. Need to really grind as an RE agent cause the cashflow definitely won't cut it at this point. Although, I am impressed with the story, and do think if OP can make it far enough down the road that the properties have started to pay themselves off, he'll be in really good shape someday.

That last sentence you wrote speaks volumes. Reducing the effective tax rate is important for those who are aiming for wealth preservation. That is something I think about just as much as creation of wealth.

Herd mentality is all about plowing money into as many sub-$50k investment vehicles as possible to create $100s in cash flow, and telling everyone around you that you're a "real estate investor". That's just the overwhelming BP hustle. Pass. Just sounds like a giant never-ending headache.

Also, I don't see many here waking up and saying, “I dream to live out in the sticks...so I can create wealth." Any time I hear someone talk like that I think about how they must have sold their soul, but at least they now have a barn silo out back filled with cash to go swimming like Scrooge McDuck. Good on them.

@Bill Brandt

Too much broke mentality in here. Really. It shows.

These are actual HOMES in SoCal and Austin not some cash flow beater rentals in Detroit, B’more, or middle of nowhere middle of US. Yeah, I’m knockin the hustle.

Completely different ballgame that OP is playing in then the vast majority of investors on BP...ever will. OP is an accredited investor by definition.

There’s a reason guys like Russ and Jay are saying, “It’s okay. You’ll be alright in the end...” whereas the herd is all clamoring about “losing” $20k/year. For some perspective, OP makes >$1369/day she is alive.

@Jay Hinrichs

That’s why I leveraged and picked up a few shiny Class A homes in Summerlin while still relatively broke/in training.

Now with my inflated income, I could literally put locks on all the doors and it wouldn’t affect my life day to day.

In fact, my direct deposits from my property management team don’t even hit my account till the 10th of the month. All my bills/mortgages are well paid by then. Always nice to see when it does.

I just tell myself it takes 10 days for my money to travel 2,400 miles where I now live!

I’m a millennial that owns multiple Class A rentals but rent my primary.

Will keep buying imo.