All Forum Posts by: Robert Beauvais

Thanks guys, I've also been looking into ways to leverage my capitol through traditional and non-traditional lending sources. I wold be interested in hearing what others have found in this regard. I'm also getting busy right now as I volunteer with Memphis in May which consumes a lot of my time over the next six weeks. My goals while juggling this limited time through May include;

- Completion of my business plan (I feel it is important not only to set goals and jump in, but to have down on paper a plan for how my business will invest and what will be done with the revenues. While this seems rather simple to think about at a high level, I want to put some additional detail around it to guide the creation of the business entity or entities.)

- Final determination of company/corporate structure (still trying to pin down local State laws and tax advantages/disadvantages between TN, MS & AR)

If I can manage all that between now and mid June then I would hope to be securing funding and shopping for opportunities by mid July.

If you're into music, bbq, canada or the 901, maybe I'll see some of you on the River one weekend soon.

-Bob

Thank you all for your responses, it is great to feel a sense of community and a little bit less like a raft at sea. Thanks for the suggestions and contacts, I will be reaching out.

-Bob

Hi, my name is Robert (Bob) I am in IT Sales in Memphis TN and looking to start a Real Estate Investing business. I have little experience outside of being a home owner several times throughout my life. I have been doing a bit of research and reading the past few months which is how I found BiggerPockets. I currently have a high level outline of what I want to do with this business though I require more detail and am open to making adjustments as needed.

Goals:

- Long Term (20 Years) Primary Goal: Establish a Rental Portfolio providing enough cash flow to support my business partner and I through retirement. Estimated rental property cash flow of $300k annually, estimated properties owned 25. Based on a 30/35/35 split between reinvest/my salary/business partner salary with each of us taking home $105k annually.

- Mid Term (5-10 Years) Secondary Goal: Establish and grow the real estate business to the point that we can seriously consider running it full time (walking away from our 9-5 jobs). In order to achieve this we envision a the same business revenue of $300k and the same split of 30/35/35. The difference being the source of revenue; instead of 100% rental property cash flow we would look to acquire 17 rental properties with an average cash flow of $1k/month while achieving an average profit of $10k per property on 10 flips annually.

-Short Term (6-12 months) establish a business, purchase, rehab and sell our first property while meeting or exceeding a target profit of $10k. Rinse and repeat, while incorporating new ideas, knowledge, and lessons learned through networking and our own experiences along the way.

I welcome the opportunity to network with successful investors that are willing to guide me around pitfalls, as well as beginners that would like to compare notes and help each other get started.

I am currently looking for information and contacts for corporate and tax attorneys to solidify a company plan and structure that both protects us and our assets from liability, but also provides appropriate tax advantages.

Thanks for reading, I look forward to sharing ideas and receiving your input on how I can achieve my goals. I am especially interested in those investing in Tennessee or Mississippi as I live in Tennessee near the state line with Mississippi and hope to find opportunities in both states.

-Bob