All Forum Posts by: Richelle Bryan

I don't like the management part so I hired a PM when I had 6 units. I'm at 130 now. About 30 SFR, 30-40 in 2-12 units, and one large 72 unit. I like finding the deals and do enjoy managing the rehabs. I get them rent-ready and then hand off to PM and generally don't deal with them anymore unless there's any major cap-ex type issues. Then it's just a matter of looking at your P&L each month to ensure repairs aren't eating you alive. It definitely reduces my burn-out. Delegation is key.

Hi Richelle, I’m getting quoted now from a few Rochester lenders and can let you know once I get some rates. 

I went f-t REI sooner than any normal person should with a young family in '02. After studying and learning all I could from the library over 2 yrs, I quit the cubicle and moved 3 states away to a doublewide by the river where our housing costs were less than $300/mo for everything. A $42k Heloc from our house we lease optioned in CO was our seed capital. Grew to 30 units or so while living in the trailer park for 5 yrs, driving beaters and eating pb&j.

Sometimes your freedom why overwhelms you. I was not commuting or answering to anybody anymore. I had had it. Ready fire aim is not recommended, but how I transitioned. Thanks for asking this question!

Only 1.

Closed my 1st investment property (out of state) in Jan - Just got the lease signed! Ohoo!

@James Green not all speculative investments are Ponzi schemes.  Ponzi schemes are when a intermediary takes money from one investor (sucker) to pay returns to another investor (sucker) to make returns look better as a tool to raise more money to ine his or her own pockets.   The distinction here is there is an open trading market for the major alt coins which means its speculative but there is no in between fraudster siphoning money out.  

Secondly there is real world value to alt coins they are no different than gold or paper money other than being digital if people believe they have value they have value.  There is a limited quantity and an agreed although fluctuating value.  

Not trusting exchanges is just common sense, you probably also wouldn't store gold at the store you bought the gold from.  Off line wallets are extremely safe.  The market is still in infancy and will continue to be relevant because the tech is very useful, the longer its around the safer and more secure the exchanges will get.  

To be clear though this is highly risky speculation and should only be undertaken if you have high risk tolerance and with a small amount of your total net worth. 

There are just no absolutes in this business. Sometimes an offer at 50% of list price is a bad deal and sometimes an offer of 120% of list price is a great deal

My advice is know your market and make offers based on the numbers.