All Forum Posts by: Gregory Schwartz

@Shahriar Khan Thanks for the advice. We'll definitely brace for the bumpy road and keep our eye on the long term goals. 

@Mark Sewell in an ideal world my tenant is still working but yes we're preparing for the reality that they dont have to pay us. 

@Account Closed great points. I am a big fan of risk mitigation and prepared for just about everything shy of a pandemic. My investment fund is dry but my emergency and general savings accounts should last me 5-8 months. I am prepared to start working as a Uber Eats or Favor driver to keep food on the table. 

@Keith Hill we just went got the "shelter in place order". I'm about to write the next BiggerPockets book, "How to fill a rental property during a pandemic".

Did I pick the best time or the worst time to jump in full time as a real estate investor? 

December 2019 - I very confidently left my full-time job as an active USMC officer making over 100k a year.

January 2020 - With ambitions of combining the 2 strategies of Househacking and BRRR I spend ALL of my investment money to buy and rehab a 280k 4-plex. I simultaneously began my career as a real estate agent with Keller Williams.

February 2020 - With an empty investment account, 1 unit rented and 2 nearing completion I first hear of Coronavirus concerns.

March 2020 - Corona is in full swing, lockdowns happening nationwide, wife's employer (a gym) is shut down and no one's buying houses. But with a decent savings account buffer, I remain nervously excited for the future.

I did not see this coming. Fully expected have at least a few houses under contract and my wife expected to be working full time. The blessing is that we live well below our means and thanks to the house hack we have very low housing-related expenses. Despite all of this I started a campaign to buy off-market distressed duplexes and 4-plexes as I continue to attempt to grow my portfolio and goal of financial independence through long term buy and hold multifamily. 

Any other optimist out there convinced that this tragic event can provide huge opportunities?

@Mitch Hoefar great investment! I'm convinced the 4-plex provides the best ROI here in College Station. What are your plans going forward?

Unfortunately we're going to have to cancel this weeks meet up

@Chris Quinn that's a hard question to answer right now since a lot of the purchases will be used in the rehab of 2 more units. Overall my plan was to do 3 interiors for 25k (950sqft  2 bed 1 bath). Best we can figure the first unit ran about 8.5k. So yeah not too bad so far. 

The first unit is finally rent ready. Check out the before and after.

Beer and real estate investing, need I say more?

-Greg

@Chris Quinn awesome! even if it's a meet up of two, I'm looking forward to meeting you. Let's start it next Wed the 18th.