All Forum Posts by: Joseph M'Mwirichia

Hi @Tim Herman duly noted. Prepare for the worst and hope for the best. 

Hi @Tim Herman, thanks for the response and your input. I budgeted $30,000 in rehab costs upfront, hence the light monthly repair cost. But I should revisit it nonetheless, and maybe adjust up to 40K. The $100 is for miscellaneous stuff like landscaping. Insurance is a little high over here. Will adjust the vacancy back up to 10% and refinancing to 75%

Hey @Brenden Mitchum 👊💯💯💯

Absolutely man, and thanks for response. We both have work to do. #keepSMASHING

@keeleyhubbard ....that's super impressive and now I can't unsee that vision.

Great wisdom in these replies. Thank you all.

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One of the benefits of being new to BP is poking around, familiarizing myself with who and what's possible within this new community I now belong to.

The depth and breadth of the knowledge bank is undeniable!

On one of my forays I discovered a talk by Jay Papasan, co-author of the One Thing and Millionaire Investor. In it he masterfully distills both precepts and gives a roadmap, complete with case studies on what it will take to be a widely successful investor!

As a beginner, committed to translating all the head knowledge gathered to date into actual rental units and real 💰, this was gold.

For seasoned investors, he gave a quick way to check in and make sure you are on track.

3 key takeaways for me were his illustration of the domino effect, dead money vs. 'wealth building % returns' and goal setting to now.

If you've already listened to this, kudos to you. What do you remember and are taking action on?

If you haven't yet, here's the link https://www.biggerpockets.com/...

Honored and excited to be here. Now off to recreating my 10yr vision and being ruthlessly honest with my starting point.

BE GREAT!

In the same boat and my game plan is to keep filling the pipeline, analyze deals, build relationships, make offers (buffers calculated in) with the sole purpose of building momentum so that end of this craziness finds us at full stride.

The reserve $$$ in hand being shared here are super impressive, and a little daunting for a newbie investor getting off the block. 

How long did it take to generate such healthy reserves? At the $250-350/door guidelines, it appears one would still need to employ outside strategies.