All Forum Posts by: Nicole Elianna

Yes, so my spouse and I have a roadmap for growing our biz and while I've hired someone to help in my day-to-day role, I'll still be doing revenue operations/outside sales/biz dev about 7-10 hours a week. We have processes in place to free up alot of my time and automate so while I won't be stepping away completely I'll have time to pursue other things. I understand most would say I should double-down with my spouse on our business full time but 1) our industry is heavily regulated in a way that can really affect revenue so it's a priority for both of us to have another avenue of income-- if not cash flow now, then appreciation/equity. 2) my spouse and i work very differently so while we have made it work the last couple of years, it isn't conducive long term to a healthy marriage. 

I understand my goals listed above are aggressive. I prefer to operate on stretch goals, my background is in tech startup sales so I love to hustle and I'd rather fail at getting to 500k and get to 350K, than shoot for $300k and work less smart/efficiently or only get to $250k. I think rent by the room and multi-family are my best bets, from what I have been checking out and appreciate the comments there. I have 2 dependents and will be the primary caregiver for both my parents and his parents as they age so we want to hustle now so we aren't stressed financially by these responsibilities in 10-15years and are able to maintain the standard of living we have achieved with income from our (now) primary business. 

I'd be interested in speaking about the charlotte market down the road once I have a couple deals under my belt. I have 2 siblings in Charlotte and 1 in RDU so those markets are on my short list since I know them pretty well and used to live there myself. 

My spouse and I own a business in the construction/home services industry. We have grown the business to afford hiring someone to take over my role so I can pursue investing in real estate. 

I have joined my local REIA and will be attending meetings next month, I have a relationship with an individual I trust (an older relative) who has offered about 150-180k to invest with me for my first deal(s) at a reasonable return, and I have started analyzing deals. Due to my other business, I know good contractors/subs, understand contracts/scope of work/etc and believe I can fill in any gaps through REIA networking if need be.

I am looking for Flips or BRRRRs I believe initially to build up some cash and/or equity and cash flow, but would be open to having my strategy/goals challenged.

With my previous business, I never took a paycheck and grew the revenue from ~80k to >2million annual revenue in 3-3.5 years and navigated a seller finance purchase of a overlapping/competing business. That said, it is demanding physically and timewise on my spouse especially and I'd like to have a solid RE portfolio in 5 years to give him more time freedom as our toddlers enter school.

My goal is to have 500k in *annual cash flow* in 5 years. I think this is totally doable, assuming I'm smart with lenders and analyzing deals. I live outside Atlanta and have plans to expand our other business to Tennessee (chattanooga, nashville, knoxville triangle) and Texas (austin/dallas/tyler area). Additionally, I have family I often visit in Birmingham and along the I-85 corridor (Greenville, Charlotte, and RDU area). So, those are the markets I am considering investing in due to already being familiar, and having access to trustworthy referrals, etc. I know those are all reasonably hot markets right now, but I'm up for some competition & hustle. Ideally, I'd like my first few projects to be local to me in Atlanta/West GA/NW GA market as I get my footing but am flexible for the right deal (out of state or more south/east of Atlanta which I know investors are loving right now).

If you are an experienced investor currently cash flowing 500k+ annually I'd love to hear your thoughts on my goals, pitfalls to avoid, strategies to employ etc. 

I am wholesaling my first property in Durham, close to RTP. Owner bought as an investment in 2019, but has had some personal issues and wants to sell. Small 2b/1ba house with vacant, cleared lot next door. House needs some TLC but has had new HVAC, Water Heater put in, new insulation and drywall in some areas, and some new electrical. Selling separate or together. Total is 1.38 acres, under 300k. LMK if interested in more info.