Hey everyone, Last week my wife and I were on vacation on the beach, paying someone 3600 bucks to rent their home for the week and I said to her, "Why don't we own one of these?" He response was, "Because we cant afford it." For some reason, with the amount of hours we both work in cooperate America and what we sacrifice for our family; that response really ticked me off. We started looking into our finances, we realized we possess a skill set to renovate and design homes ( We turned 16k down, into $200+ in equity in two of our personal homes between December 2021 and present day) so why are we working for ourselves?
Fast forward 7 days later, we have analyzed probably 200 listings, pretty much have ingested years of modern investing knowledge through Bigger Pockets YT. Both of our parents have done well in real estate, but their strategies are a bit outdated; so this community as a whole has been so helpful to us.
Today at 3pm EST, we submitted a seller finance offer where we have an opportunity to earn a good passive income from already leased homes, and as tenants move out, we come in to do what we do best, and that is making homes look great. From previous experience I know this wont be wrapped up anytime soon.... But I at least wanted to come on here and be an encouragement to someone out there who is on the edge. The encouragement I want to give is, have a great TEAM around you ( we are blessed to have an amazing realtor who my wife considered a second mother growing up. (who also has partners she has trusted and worked with for 30+ years also). Also, just spend the money and become a pro user!!! I spent dang near my whole vacation making excel models, HOURS!!! This morning I woke up at 5am and said, just buy the pro membership - you are an investor and you need the best tools if you want to do this right! My wife's response today when I showed her the PDF tool was priceless. I also noticed that she instantly trusted my intel a lot more, because i was not constantly saying let me fix this or double check this or fix this formatting with my OCD.....lol
The last thing I would say is, don't repeat what I did and jump right in from nothing, to 7 days later you are waiting on your LLC approval, and waiting on an update from an offer you just put in for 6 Homes together ( I pretty much have not slept in the past week due to this new world)
But I promise, if you have a good team around you, and you have done your research, and more and more, you will know when you have the right deal to start - so go ahead and submit your offer!
Thanks everyone, looking forward to updating you all on my success story here any day!
Arthur
