All Forum Posts by: Ryan Leake

I'd preferably find a decent deal, and use HML to purchase it then use the 20k as reserves or to fix it up. Then rent it out. In my market with 20k I'd probably get a 2/1 that needs a little work, then make it a STR for max cash flow.

@Taylor Dasch I like it! What kinds of returns would you expect in your market with a HML and STR strategy?

It’s not a lot of money and this might not be popular, but iBonds are paying pretty nice returns right now. Married couple can never 10k each. 

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My redraft for you.

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Hi {FIRST NAME],

My name is Ryan and I work for [BROKER NAME  ie Coldwell] in San Francisco.

I'm 22 and want to start investing in real estate. 

I have [$XXXX] to start with right now and I want to move from the broker side to being a principal/owner, but I'm only 22 and have a lot to learn.

I have a few questions and I’m looking for someone with more experience for some guidance, and I was wondering if I could call you and talk.

Would you mind if I called you?

Best regards,

[YOUR BUSINESS PIC HERE]
Ryan Leake,

San Francisco

Cell/text: (123) 456-7890

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(If he says yes--place the call as soon as you receive the email--immediately)

(If he says no--send a thank you anyway response).

If you have no money to invest right now say so in the email.

Recommendation--Don't be a chore boy--be a fellow businessman (have some self pride) (Ride on the yacht--don't polish the fenders).

Recommendation--Talk on the phone, see how that goes, if it's good, then offer lunch or whatever (the same as a date with a girl--talk first then ask).

Recommendation--Shake a hand make a friend vs being a student type.

[and I don't have time to mentor you--it's not what I do -- if you have any questions for me just ask them in here publicly then everyone can benefit from it]

Good Luck!

https://www.youtube.com/watch?v=Q4v8UdkTx30

 https://www.youtube.com/watch?v=urHMLigQjBQ

Wow, Ryan…I don’t even remember posting that so thanks for the trip down memory lane. Reading that again kinda gives me chills because here I am six years later and checked every box.  I guess there is something to setting goals if you want to achieve them!  Even though I wrote this here and never revisited it.

I did upgrade the plane two years ago.  Great decision because not only is it a lot more capable but I bought right at the beginning of Covid, and since then prices took off so it’s worth more than I paid. Got the oceanfront condo on Ka’anapali beach five years ago and that was another great decision because now I live on Maui about 25% of the year and run my business from under a beach umbrella with the ocean only a few feet away.  I just don’t set my laptop on the sand because occasionally a larger wave comes up.  First-world problem.

I hit my real estate goal, too, buying about 4,500 units over the last 5 years.  One thing that played out differently than my post from 6 years ago was that I didn’t wait ten years to start selling. I’ve sold about 3,000 of the units already, many for nearly double what I paid, so there was no reason to wait. 

One goal that wasn’t even on this list also came to fruition—I co-founded a real estate lending company 5 years ago and then loaned over $1.5 billion to other real estate investors and now we’re selling the company to a public company. Didn’t see that one coming but sometimes when life presents you with an incredible opportunity, you seize the day.

Another one I didn’t foresee was writing a book—but BP published The Hands-Off Investor two years ago and I’ve received a lot of really great feedback from so many people who got a lot out of it. 

Now that I accomplished all my goals (and then some) I guess it’s time to come up with new goals.  I suppose some good ones might be to get better at golf, fly the airplane more (maybe to some golf trips?), maybe upgrade the plane again.  Business goals?  I don’t really have any at the moment. I’m going to watch what happens in the world and be ready to act when I see the right opportunity, in whatever form that might take. With all of the volatility, I’m not feeling rushed to act, nor am I seeing very compelling deals…but that could change next week, for all I know. 

The plane was on my list but I checked that box 10 years ago. Although I must admit I'm thinking about an upgrade...

My life goals when I set out were fairly simple. I wanted financial security, to not have to get up at the crack of dawn nor work graveyards ever again, have a career where I didn't have to change clothes when I got home, to take vacations whenever and as often as I want, not have a commute longer that ten minutes, and to have all of that while building a business for myself and not for someone else. And I wanted to really enjoy what I was doing.  

I checked those boxes too, but since have created new ones. A condo on Kaanapali Beach is my biggest one...time to start thinking of spending more island time.

There is a trade-off though.  In exchange for these lifestyle benefits, I had to give some up.  Some people want to avoid taking risks, want to be able to completely "unplug" after they leave the office, don't want to be responsible for other people's money, don't want the livelihood of others to be dependent on them...but I accept these in exchange for satisfying my needs list. 

My real estate goals are to buy 4-6 properties a year. Each would be 150 to 300 units so 600-1,000 units/year. Maybe do that for ten more years (then spend the next ten years selling), unless of course that asset class stops making sense and a strategy shift materializes...