All Forum Posts by: Bryan Rogers

@Michael Noto, I agree there is no such thing as perfect timing....my point above was with the pandemic currently going on, now may not be the time to jump into the market. Also, you can't step into REI without $ as without those reserves, especially with no experience, you will not make it!

Thanks for the advice @Brian Briscoe! I live in Michigan, but if all I’m doing is “assistant” style work, I could do that for just about anyone anywhere. It’s been about a year now that I have been trying to consume YouTube videos, Bigger Pocket webinars, literature, and basically whatever I can find.

There is a multi-family (manufactured community) that’s for sale about five miles from me that I’d love to get into, but at $2,000,000, it’s a bit out of reach right now. In all honesty, to get into the world, I’d be willing to do just about anything someone would need. Between what I have learned already and given that I have the ability to pick with things really quickly, I do feel I could bring value. 

I do very much appreciate the response and will continue looking for local groups to start/continue to network!

I know timing is not great with everything going on in the world, but I really would love to get into the REI world! I've spent a lot of time listening to people in the business and reading information and I want to take the leap, but finances are not in the place they need to be right now. I've heard there are REI's who wholesale or flip houses who hire people to be their assistant. Stuff like answer emails, schedule appointments, search for property leads, etc. my question is, how do you find those people? I work full time (6am - 3:30pm est), but I have a lot of flexibility and free time during the day as well as nights and weekend. I feel like it would be a win win win as I would be able to help take stuff off the plate of someone while I would gain experience as well as more money to put towards my own REI....eventually.

I would agree with Paul on the multi-family part. You are sitting on almost $1,000,000 of equity and you're brining in roughly $48,600 a year. That kind of cash would land you in the $2.5 - $3 mill range and even at a lower cap rate you would still bring in more per year. My father-in-law and I are in almost the same boat. 13 houses netting just over $60K a year with roughly $1.4 mill of equity. He's tired of spending so much time on them for that return. We are about to pull the trigger on selling everything off, doing a 1031, and getting an apartment complex. Oversee the management company (much less of a time investment than being a landlord) and bring minimum $20K more than we are now.....might be worth looking into!

Bryan Rogers