All Forum Posts by: Jordan Murrell

@Romeo Sison

There are a few. PM me. Let’s connect!

@Stephen DeThample

Thank you Stephen. Really looking forward to achieving my goals. I’d love to chat with you. Let’s connect

About one year ago I moved to Las Vegas to play professional soccer. Last March our season began and ended due to COVID 19. At first, sitting at home and staying safe was great. Then I realized I was at the mercy of someone else. I worked for someone else and they could cut all income for me and my wife at any time. The fact is, I was disposable. Now, you may be thinking... You play professional soccer. You get paid millions. No. Not the case at all. Typical wages range about $0-$3000 a month for 10 month long contract.

The second week of March I was looking for a way to create income. I read “Rich Dad Poor Dad” and I realized I was looking at it all wrong. A mindset shift. Speaking to others about my new thought process, my old coach introduced me to BiggerPockets. From that moment on, I was hooked. I listened to all the podcasts and read all the books I could get my hands on.

It was September. Not going to lie to you, I had analysis paralysis. My girlfriend at the time, now wife approached me and asked “what are you waiting for?!” You need to purchase a property otherwise you never will. Figure it out along the way.

Had some hiccups purchasing my first rental property. Ended up reading David Greens book “Long Distance Real Estate Investing” and saw my next steps. Identified my market (Memphis), put together a team and put in offers for property that fit my criteria.

Fast forward from October. I now have a couple rental properties and managing a flip. My goal for the next 3 months is to acquire 16 properties.

After networking, lead generation and funneling. There are two investors both looking to offload their portfolio here in Las Vegas. One seller has 30 properties and is moving to another continent for family reasons. The other wants to 1031 exchange into larger commercial properties.

The plan would be to acquire 3-7 properties from each investor. Originally my goal was 16 properties this year but one of the podcasts truly inspired me to make my 1 year goal into a 12 week goal aka “The 12 Week Year.”

This seems like a large task so I have started the “Intention Journal” by Brandon Turner.

How would you complete the transaction of 3-7 properties from each investor?

@Kenneth Garrett

Thank you Kenneth.

I am going to connect with as many smaller credit unions as possible here in town.

Yes they'll probably want to close in an LLC which I will get my attorney to draw up an agreement with the partner or partners on the deal. Really appreciate your feedback.

@Kenneth Garrett

These are great questions. Well to answer the finance part. I’m unsure of the final execute but I was thinking use a commercial loan to purchase multiple properties under one loan amount.

Going to speak with a few local credit unions to see what they are able to lend on. Also, utilize private money to fund the loan and repairs. The properties are located in B & C neighborhoods and the occupied units are currently cash flowing.

There will be a lot of repairs needed as they haven’t done any rehabs or upgrades since they’ve bought them about 7 years ago. We would be looking for their worst performing/ under utilized properties first and foremost. Use force appreciation to drive up value and rent-ability.

Spoke to both investors and they are willing to separate packages as needed considering I’m not looking to buy just one.

@Josh Beller

Thank you Josh! Hope you had an amazing holiday season. We are coming up with a plan to get these properties under contract. Thus far I have been thinking get a commercial loan from a local credit union. We are working on creating more deal leads. The more deals we come across. The more we analyze. The more offers we make. The more deals under contract. Trying to make a Brandon Turner “funnel system.”

About one year ago I moved to Las Vegas to play professional soccer. Last March our season began and ended due to COVID 19. At first, sitting at home and staying safe was great. Then I realized I was at the mercy of someone else. I worked for someone else and they could cut all income for me and my wife at any time. The fact is, I was disposable. Now, you may be thinking... You play professional soccer. You get paid millions. No. Not the case at all. Typical wages range about $0-$3000 a month for 10 month long contract.

The second week of March I was looking for a way to create income. I read “Rich Dad Poor Dad” and I realized I was looking at it all wrong. A mindset shift. Speaking to others about my new thought process, my old coach introduced me to BiggerPockets. From that moment on, I was hooked. I listened to all the podcasts and read all the books I could get my hands on.

It was September. Not going to lie to you, I had analysis paralysis. My girlfriend at the time, now wife approached me and asked “what are you waiting for?!” You need to purchase a property otherwise you never will. Figure it out along the way.

Had some hiccups purchasing my first rental property. Ended up reading David Greens book “Long Distance Real Estate Investing” and saw my next steps. Identified my market (Memphis), put together a team and put in offers for property that fit my criteria.

Fast forward from October. I now have a couple rental properties and managing a flip. My goal for the next 3 months is to acquire 16 properties.

After networking, lead generation and funneling. There are two investors both looking to offload their portfolio here in Las Vegas. One seller has 30 properties and is moving to another continent for family reasons. The other wants to 1031 exchange into larger commercial properties.

The plan would be to acquire 3-7 properties from each investor. Originally my goal was 16 properties this year but one of the podcasts truly inspired me to make my 1 year goal into a 12 week goal aka “The 12 Week Year.”

This seems like a large task so I have started the “Intention Journal” by Brandon Turner.

How would you complete the transaction of 3-7 properties from each investor?

Hi Terry

Best way to find good contractors would be through referrals. Connect with as many investors as possible and ask who they use and who they would recommend. Some investors may hold on to their contractors details and some would be willing to share. I hope this helps!

Let me know how I can be of help to you and your business!

I would say some specific zip codes in Memphis you may want to take a look at are 38128, 38117, 38115, 38118, 38109. 

There are definitely areas you would want to avoid such as 38106, 38107, 38114. 

Let me know how I can further help!

Congratulations on a great deal. I have been hearing a lot of good things about roofstock. I think it's time for me to get on there and take a look. What would you say the pros and cons would be about roofstock?