All Forum Posts by: Jed Butikofer

Quote from @Nathan Gesner:

Have you read Coach Carson's book, The Small and Mighty Investor?

I have not read that one yet, but I've heard it mentioned a few times now. I'll add it to my list. I agree with the potential for headache which is something we've thought about a lot. If the goal is fewer properties that are more profitable, it sounds like you just need to make better deals happen. My only strategy for finding deals is on the market listings and these never seem to pencil. From where I'm standing the idea of a $1,000 a month cash flow property seems impossible when the best deals I find break even. Where do I need to focus my efforts and time to find a deal like that?

Quote from @Jonathan Greene:

I think it's great that your plan for next year is just one investment property. Keep that focus, but as you learn things will change... There are quicker ways to get where you want to go without focusing on the number of doors. Doors are irrelevant. Profit per door is relevant. A lot of investors have 10 doors, but 6 of them are bad. That's not good.

What can I do to maximize profitability per door or even for my first deal? I don't know of much outside of on the market listings, and the "best" deals I find there are breaking even with no cashflow. I've lived in Alaska, Idaho, Utah, Arizona, and California(current residence), and analyzing deals in my "back yard" at each location usually ends with me paying out of pocket to own a rental.

Thanks @Brook Davenport! I appreciate the warm welcome. Have you been investing long yourself? Where are you located?

Thank you for the great insights and potential steps moving forward. @Jonathan Greene and @Nathan Gesner, you both illuded to sharing more about my current financial situation and background. Here is a little more about my situation:

GOALS: I am 26 years old and my wife is 23 and we have two kids. Our long term goal is to purchase and move to a remote ranch and for me to be able to quit my job around 40 years old. We both come from rural background and want to get back to that. If you talk to anyone in ranching they'll tell you it's a rich mans hobby, and that you need to go build your wealth elsewhere first. My wife and I feel real estate is a great catalyst to get us there. Our real estate goals are to purchase our first investment by end of 2025 (ideally small muti-family like a duplex), and scale to ~40 doors to reach our financial targets.

EDUCATION & EXPERIENCE: My parents flipped every house I ever lived in growing up. Mom is a real estate agent and dad knows the trades. I have a bachelors in Construction Managements and run substation electrical jobs for a living while my wife is a stay at home mom with the kids. We have spent the last several years reading (rich dad poor dad, total money makeover, etc.), listening to bigger pockets and other podcasts, and learning about real estate. Once we are debt free we want to hit the ground running to avoid, "paralysis by analysis" as @Nathan Gesner mentioned. 

FINANCIALS: End of January we will be 100% debt free and we have a personal emergency fund saved. We have a strict budget in place and will be saving ~$4-5k a month once debt is paid off, but do not an investible nest egg yet. My job is our sole income and I get relocated for projects frequently so any property would have to be managed remotely (willing to invest anywhere in the states).

Given the our situation above and our long term goals, I feel best next steps would be a heavy emphasis on networking and deal analysis. What are you thoughts on that? Do you think my goals are achievable? Are there any markets you would recommend for long distance investing?

Hello BP Community!

My name is Jed Butikofer and I am currently located just outside Bakersfield, CA, but move frequently for work. 

Background: My mother was real estate agent and my dad knew construction so we flipped just about every house I ever lived in. I was the oldest boy so naturally I helped dad with all the renovations. Fast forward my entire career has been in construction from residential to commercial to industrial. 

Goals: My wife and I would like to take our little family and move to a remote ranch in the west. In addition we would like the flexibility for me to be able to supplement my income or leave my employer as we see fit. Certainly not trying to leave my job today, but someday.

Current: I am sole income of our house hold. Just started with a new employer that pays for housing, vehicle, and fuel. This has provided us the means to save ~$4-5k per month. We want to avoid letting money just sit in the bank account when we know we could be making it work for us. We don't currently own any real estate, but are both hard workers and ready to start the learning curve.

Looking forward to connecting and getting to know like minded people!

Thanks!

Jed Butikofer

Hi Everyone!

I recently started with a new company that is paying for my housing, vehicle, and fuel. This has freed up my income substantially from where I was working previously. Looking for thoughts and suggestions on how to utilize these new funds for real estate investing. Please consider the following:

- Monthly savings: ~$4-5k

- Full time job: Traveling and always relocating

- No real estate currently owned

My wife and I have long term goals to live on a remote ranch and would like to use real estate investing as a means to get there. I don't necessary want to quit my job but having the option to do so is desired. We are both very hard workers and have a lot of ideas such as saving to buy investments in cash (takes a while), using private lending and keep the savings as an investment rainy day fund, and others, but it always helps to get a second opinion. 

Any recommendations on ways to best utilize this new income would be greatly appreciated. 

Thanks!