All Forum Posts by: Julie Kern

@Justin R. GREAT stuff! I LOVE it!! And it's funny, I was telling someone that even though my spoken and defined goal is 50 units, it's really to squeeze the highest returns I can out of the capital I have to work with, to build more capital, and so on.  Having a numeric goal of # of units helps me visualize and focus, but it's more about the return.  Thanks for sharing!

@Wallace Pai I would say "it depends".  I haven't identified the property(ies) yet. Once I find that first property, I'll post an update with details. 

@Jared May  @Martin Perdomo @Anthony Henriquez  @Robert Mitchell @Account Closed Thanks! And yes, it's not quite as big of a leap when you have another strong income and also still have health insurance through that other W-2 job.  Do we *need* $20K-$30K/mo to live off of? Definitely not, but we've always believed in putting ourselves in a position where we can help family, charitable organizations and be able to give abundantly, while leaving plenty of margin in our financial lives.  That goes back to my "why".  And I'm also a big believer in aiming high - even if we only hit 50% of that goal, that won't be too shabby either :) Best to you on your future endeavors!

@Johnson Michael Thank you and Amen! 

@Brian Mullins Funny, I grew up in West TN and lived in Cobb Co until about 2 weeks ago (relocated to Bartow County).  Thank you for all the great advice - sounds like you and your wife set your target and stayed laser focused.  That's our goal as well.  I may reach out to you to pick your brain sometime!

@Chris Bunya My husband and I actually just moved to Taylorsville in Bartow County, so we're practically neighbors :) Glad to hear Medi-share is working out for your family.  Yes, being in control of your time (to the extent any of us control anything) - priceless!

@Matthew Nicholson @Eric Carr @Eugene M. @Sean Shapoori Thank you so much!

@Kareena Sharma I know it's tough living in areas like CA where everything is super pricey.  I think it's the Real Estate Guys that say “Live Where You Want, Invest Where It Makes Sense.”  One option for you might be turnkey properties in cash flowing markets, just be cautious and make sure you choose a reputable operator and run your own #'s (don't just use theirs).  It might at least get you over the hurdle of taking that first step, and while the returns are less than if you buy, rehab, refi (you'll be paying closer to retail) they're also much better than what you'll find where you are unless you're really able to hustle.  I have 2 TK properties and they're ok - not stellar - but they've cash flowed decently.

@Derrick Williams Thanks, and I hope she succeeds in retiring you!

@Marco Padilla Thanks - once I decide to do something, I can't really rest until I've done it.  I get a little bit obsessed :) And then there's the next thing, and the next. 

@Marco Rodriguez Congrats on your new endeavor as a Commercial Realtor and best wishes to you for more and more clarity on your objectives as you learn and grow!

@Somit Joe Good question...  are your SFRs in a more desirable area where you're able to attract higher quality tenants who want to stay longer?  I guess there are so many variables it would be hard to say without knowing more, but in theory, it seems your 8plex would have lower vacancy due to a distribution over 8 units. Do you manage yourself or have a PM?

@Dominick Albano - Thank you sir, and focus is my biggest challenge and highest priority for sure!

@Andrea Cole @Janice Reynolds Thank you both!!

@Vance Baker We used our own funds for flipping.  Although 2 of my flips would have still done pretty well with HM loans, just not as well.  We've always been super conservative, and also blessed with strong incomes so we've saved enough to fund our own deals.  Deals in general are not easy to come by these days, whether single or multi-family, but they are out there.  How are you sourcing deals? Are they all on-market or are you looking off-market also?

@Bob Brissie It does sound like we have similar approaches.  Best wishes on that 25+ unit multi - let me know when you buy it!  And my best friend from college was from Plano :)

@Eric Williams Having a great partners and a supportive spouse are huge advantages - and thanks for the encouraging words!

@Launce L. Well thank you so much!  Yes, I felt like I was missing a body part for a while after quitting.  I didn't hate my job at all - it was an incredible blessing for many many years, awesome co-workers, I worked from home and it allowed us to build capital, along with a nice sized 401K that I rolled into a Solo 401K and now use to invest in real estate.  But it was time to move on, and I'm so glad I did!

@Timothy Young Thank you!! Wishing you and your wife great success on your journey!

@Wale Ehinmidu @James Jones @Rosa Alpuche @Pamela Johnson @Brian Trent @Jackie Hall @Charles A Munk Thanks to each of you for the positive words and well wishes!

@Guy Jean @Account Closed Best thing I can recommend is get an accountability partner and speak out loud and write down your (time-specific) goals.  There is much power in both.  You can do it - sometimes our mindsets and limiting beliefs are the biggest obstacles.

@Mike Quin The first week after I left my job, I was like "wow, this is amazing!". The second week, I thought "what the heck have I done??".  And after that, it slowly became the new normal, but I love it!

@Troy M. Thanks! And not at this point.  I'm focusing on MF because it's the most familiar, coming from single family, and I guess would be considered a logical next step.

@Jeff Carter @Account Closed Sounds like you have a clear picture of where you want to go from here. Best wishes to you - hit me up when you've got the first multi-family under your belt!

@Nate Sanow - Aww, thanks so much! 4 years ago I would never imagined that I would be full-time in real estate now, and definitely not making the move to multi-family. Just continuing to take that next step can pay big dividends. AND surrounding yourself with rock star investor friends, many whom I met here on BP. And B-Peeps - who knows?? :)

@Houston Garcia Thank you sir!!

@Dawn Matze Wow, good for you!  I would LOVE to hear your story! Give me a call or shoot me an email (contact info in signature).  I don't have a mentor, per se, but I've got several folks who are many steps ahead of me that I'm learning from, who are kind enough to help educate me.  My search for multi-family will be concentrated in the Southeast.  I'm looking for apartments, mobile home parks and even self-storage (although I don't know much about self-storage at this point).  Would love to chat sometime!

@Ashley Patton Well, you just made me realize that I need to update my profile pic.  It might be *slightly* outdated. :)  And thanks so much for the encouraging words!!

@Joel Fine Thanks Joel! I truly appreciate and I will definitely post updates.  That's my way of staying accountable!

@Roger Mohnani Thank you and God bless you as well!  

@John Andrews - Thank you! My main financial criteria (at this point) is 20% CoC return. And per door, with that, I'd be looking for a minimum of $200/door. I'm sure I'll tweak as I go along, but that's my starting point.

@Kyle Neff - Thanks Kyle! I'm actually open to smaller multi-family properties also, although I'm a bit lazy and prefer to do less transactions :) And I'm looking for anything within a 5-6 hour driving distance of where I live (just outside of Rome, GA).

@Hampton Logan Thanks so much!!  My contact info is in my signature.  Would love to chat!

@Matthew OMara Thank you Matt - appreciate it!

@Jennifer Joseph - Thank you and congrats to you!  How many rental properties/units do you have?  Are you flipping/wholesaling also? 

@Richard Lovering - Thank you!!

@Jacob Allen @Quito Keutla @Alethia Smith - Thank you all so much!!

@Benjamin Gallant - Thanks for the recommendation, and I actually just recently started listening to Joe Fairless' podcast.  Love it!  Have you read his book(s)?

@Michael Ealy - Just read your post.  Wow, what a story!  "and I am not even that smart." :) I would argue that you're humble AND smart.  Very creative approach on that deal!  Thanks for sharing, and thanks for your encouraging words!

@Andrew Hoelzel - Appreciate!  Accountability is huge, which is why I'm speaking our goals out loud to anyone who will listen!! 

@Wave Taylor and @Dan Allen - Thank you!!

@Matthew Nicklin - Thanks so much!  Thought your name looked familiar when I saw it - now I know why.

Hi @Bryan S.  That’s a great question and something we’ll need to consider as the time nears for him to leave his job, but that’s so far off in the future I haven’t given it a lot of thought. I know several other investors with 2-4 kids who are on MediShare and are very happy with it, but I can’t speak to it myself.