All Forum Posts by: Andrew Hendrickson

Hi all! I'm currently studying business, and for a class project I'm needing to conduct a few interviews with landlords, specifically who do your own property management. Probably a half hour interview, could be phone or zoom. Could be email as well, but might be less efficient. 

Let me know if you're available. 

So I've always been the so-called "golden child" in my family — well that's what one of my friends says. Always planned to be the one to break out, I'm the one with the flashy experiences, the wide open opportunities, the one with ambitions.. And it's not just my family, but my friends are generally underambitious, under accomplished, not really going anywhere. 

In the last year do to well chosen stocks on a very aggressive strategy (after a decade of data collection I finally made a decisive move) I've increased my net worth from being slightly negative to being more than 1.5x my work income for the year, which was already higher than most of the people I know. That particular run hasn't fully played itself out yet (oil stocks, not GME, just if anyone was wondering), and then I plan on transitioning into other growth strategies including real estate. The point is, this year "made" me, in a way that life will never again be the same. I was already trying to chart a course towards financial independence, but this year moved me up a solid 5 years at least. 

My friends and family don't downplay my ambitions, they don't try to hold me back, and I can't just dump them because they are important to me and were there for me through my difficult experiences, and they're a part of me. 

But at the same time the experience gap is widening, and it's hard for me to say that it's because I work harder — because I'm as lazy as they come, just clever and lucky — or that I somehow merit it — because between us all, I'm the one with criminal record, etc. Even if my friends don't care on the large (which I assume most of them don't), I find myself feeling guilty for the way I seem to have "short circuited" the game, for leaving others behind, for being the standout.  

I'm curious if anyone else is able to relate to this experience at all, and if so how you've dealt with it. 

I suppose realistically option 1 shouldn’t conflict too hard with 2 or 3 as it wouldn’t necessarily tie up that much capital, but I’m worried about either qualifying for a mortgage, or qualifying for a mortgage on a new house, while having a highly irregular and unpredictable income. I suppose a good partner could help with that however.  

Hey all!

So I’m Andrew, a 28 year old college student who a little over a year ago was basically broke. However watching the stock and oil markets for some time I was able jump on once-in-a-lifetime prices, and, with various forms of borrowed capital contributing, I’ve essentially gotten a 10x return to date on my own money, and expecting that might double again over the next year or two before I’ll call it played out and be ready to shift to something else. 

So I’m wanting to get into real estate. I set the audacious goal of going from a net worth of $100k by the end of the year ($70k right now) to $1m in 5 years — wanting financial independence soon as reasonably possible. I live in Eugene, Oregon, but would be willing to invest out of state (not sure the west coast is the best beginner market at present) and I’m not opposed to spending a year or two waiting for the right deal — after all this last one was 15 years in the making for me. 

Biggest limiting factor is that it’s unlikely I’ll have predictable income between now and my first mortgage. I imagine I could find people to partner with easily enough if need be. Biggest advantage is I know how to take my time and wait for the perfect opportunity as seen above. 

So a few thoughts come to mind as far as how best to play this: 1) I might try to find a super good deal that I can house hack in the Eugene area (thinking a 4 room house subletting to students) so I have free rent while finishing up school and a super good return on a FHA loan and build out from there. 2) I could just start, say, picking up $100k duplexes in north Florida, perhaps several next year (don't intend to buy anything this year regardless), 3) I could wait for one perfect big multi-family unit to pick up and sit on for a couple years before 1031ing into something bigger and better.

I’m curious if anyone has any suggestions as to one play over another, or other points I might wish to consider.