Hello, BP family! I hope this message finds you well. I want to share with you the story of my journey in real estate investing and remodeling.
Growing up in a low-income family, my wife and I always dreamed of owning our own properties, but we never had the means to make it happen. It wasn't six years ago, when I started my own NDT inspection company, that we finally had the financial stability to pursue our dream of investing in real estate.
Just before the pandemic hit, we took a leap of faith and purchased our first investment property - a flip house. With my extensive experience in rehab and construction, we felt confident in our ability to make the project a success. We even had a friend with a construction crew who was also flipping his first property, which gave us the courage to jump into this new venture.
However, like many others, the pandemic brought our inspection business to a screeching halt. But we didn't let this setback stop us from pursuing our dream. Instead, we poured all our time and energy into researching and learning everything we could about real estate investing.
And our hard work paid off. In May 2020, we successfully flipped our first home, and since then, we've gone on to flip over twenty more properties and build a portfolio of twelve rental properties. It was a whirlwind of a journey, and we were thrilled to see the fruits of our labor with the residual monthly income generated by our rental properties.
But as we continued to acquire more and more properties, we found ourselves struggling to keep up with the accounting and office management side of things. It was overwhelming to balance our full-time jobs, real estate investments, and the daily demands of managing our properties. We learned some tough lessons along the way, especially with dealing with bad tenants, but we're grateful for those experiences as they've taught us the importance of taking our time and doing things right.
The last property we purchased was in June of 2022, and it was a cash purchase. We spent most of our savings, one hundred and twenty thousand dollars, to develop the property, which had an old mobile home on it. Despite the challenges, we persevered and managed to put two newer mobile homes on the property, which appraised for $250K.
With interest rates being high and our finances low, we've decided to take a break from acquiring new properties for now. But that doesn't mean we're slowing down. We're eager to continue growing our real estate portfolio, and we're currently learning about multifamily real estate, which we plan to pursue in the future.
Meanwhile, our inspection business has slowed down significantly this year, and we've had to pivot once again. I've been managing and doing some of the remodel work on our properties, and I started getting requests for remodeling projects from neighbors and friends near the homes I was working on. This led me to become a general contractor in Houston, and I've put together a skilled and knowledgeable remodeling crew. I'm proud of the work we've done on our own projects, and I'm excited to bring that same level of quality and craftsmanship to all of you.
If you or anyone you know needs remodeling or construction services, please don't hesitate to reach out to me. I'm committed to delivering exceptional results and making your vision a reality. Thank you for your support, and I look forward to working with you on your next project.
