All Forum Posts by: Jeffrey Hunter

Quote from @Jeffrey Hunter:

I have come across amazing opportunities at a young age where it is likely that I could end up playing basketball professionally overseas for a few years! Of course, this is a huge decision for myself when it comes to where my future will go and how my investing journey will look. I do not currently own any properties yet. I plan on purchasing my first multi-family within the first year of graduating college. If my basketball journey ends up taking me overseas to play professionally, I question what my REI career would look like. How can I make it possible to buy property and have it managed properly while being on the complete opposite side of the world? Is it possible? Is it smart to invest in my property while not actually being able to have hands-on experience to learn about all the things that come along with being a landlord/property owner?

 I own properties directly and also invest in real estate passively through syndication/crowdfunding. And I believe both have their strengths and weaknesses and a place in a diversified portfolio.

However, if I were overseas, I would never try to purchase and/or manage directly owned properties while overseas (and especially if I had never done it before). In my opinion, it's a business (like any other) and requires adequate in-person management and supervision by the owner to avoid getting surprised by numerous things that can cause losses. And even if you intend to hire others to do some or all...they aren't fully aligned with you and still require adequate supervision (which, in my opinion, can't be done overseas).

And the main advantage of investing passively is that the investment manager will be very involved and avoid all those potential traps. And once you're done picking them...you're done and can concentrate on your basketball career. You will have to pay management fee ( versus putting in sweat equity in getting this for free with the direct investment). But, presuming you pick well, the manager will have years more experience and expertise than you would ever be able to acquire.

Good luck.

You likely want to look into investing in syndications as an LP.  Trying to buy and manage a portfolio from a different country is possible but going to be much more work and potential risk. If you have the cash to be able to invest $50K sums into syndication deals, it is a completely passive experience that will allow you to build a real estate portfolio with minimal time commitment. 

@Jeffrey Hunter

What a great problem to have. You can always begin investing at any point in your life, but playing professionally may only come once or twice in your life.

I would select a market, start to build a team, and look for potential people to partner with. Learn how to work with third party property management.

You can also seek out others who are active in the market you're looking at, and see if you can join their team. 

This is probably the easiest way to start investing while focusing on playing professionally. When you decide to leave basketball, you will have real estate waiting for you.

Best of luck

Gino

Quote from @Jeffrey Hunter:

Good afternoon everyone, 

it is such an amazing day to be alive! I just started reading David Greene's book The BRRRR Rental Property Investment Strategy Made Simple, and I came across a thought that I am sure will be answered somewhere throughout the book. Figured while it was fresh in my mind I'd ask on BP...

When using the BRRRR investment strategy, is it possible to still House Hack a multi-family property (Using BRRRR)?

I have heard before that they're two completely different strategies which confused me a little bit. Look forward to hearing a few responses, thanks!

Hey Jeffrey, I agree with the others here, these are two different strategies that will take some toll on you if you don't have any experience doing it just yet. Are you looking into getting your first home? If that's the case, FHA is a great starting point. You can do househacking and it can allow you to get started with appreciation and cashflow with very little down, you can even try and learn to BRRRR it like I did if you add value.

Bought my first house-hack a year after landing my first job. Best decision I've made! House-hacking helped me become a landlord, learn how to analyze deals, and also was a stepping stone for me into real estate investing. It wasn't a home run when I bought it, but it significantly reduced my living expenses while owning my own property was a huge win for me. Definitely no regrets. 

Hindsight is always 20/20 so it's difficult to give this advice....

Mine would be to not waste my time with real estate and use every penny I have to buy bitcoin when it was a a fraction of a penny! Of course that's knowing it went to 60k. 

Realistically, I would say not to get held up on a few thousand dollars in price difference. I lost deals because I was off by what shouldn't kill a deal. I basically saved a few thousand dollars at the expense of a few hundred thousand at the end of the day.

The most important ingredient in RE is time. That's a big piece of advice I have for my past self. Building wealth takes time. 

Friggin do something!!  Don't wait until the "perfect" opportunity comes up.  There is no such thing.  Its going to be hard, there will be challenges, but where do you want to be in 10 years?  Still working paycheck to paycheck, cool car, nice apartment, but still having to work every single day?  Or do you want to start putting money that you have earned to work in assets that is giving you money back that you can in turn reinvest?  17 years ago I was trying (poorly I might ad) to be a realtor, the plan was to buy at least one condo a year for 5 years that in theory in 30 years would be paid off an bringing me a grand a month each or 60k a year.  Had I followed the plan instead of living paycheck to paycheck, driving the cool BMW and living in the fancy house, I would be 13 years away from that 60k a year which had I just done that, in today's market would be more like 120 - 140k a year.  Don't make excuses and find a way!