All Forum Posts by: Travis Beehler

 Good luck to you!  It takes a LOT of hard work, educating yourself, being told you can't, you don't know what you're doing, etc.  Then, don't be surprised when people see your success and want to "invest" with you and want equal footing. :)

For me, I think my "making it" moment will be seeing the monthly net rent checks be higher than my current salary.  Then, my next goal is to have it be $10k per month, then $20k, and my final goal is to be around $100k per month net.  I think at that point, I'll be able to retire comfortably and live my life out with my wife and kids traveling, buying my dream cars, and not having a financial care in the world. :)

But that's about 10 years out according to my calculations. :)

So, I'm in the middle of a deal that will be my "catalyst" deal.   One that, if it goes through, will propel my earnings way higher than I originally estimated.  On top of that, it will accelerate my timing for purchasing even more property, to get to the point where this will easily fund my retirement.

So, I ask all of you, when did you have that moment when you realized it was going to work out for you?  Was it a major deal that went through?  You got a massive check that was bigger than you've ever seen?  You were able to buy some dream item that you would have never been able to afford before?

For me, it was putting up my entire 401k in my first deal.  If it went south, I'd have to start completely over.  So, I did a TON of homework.

Once the first deal was ready to go, and I had pen in hand, ready to sign documents, it hit me with a feeling of "This is very real.  It's happening, and let's see where this leads".

On that note, would the SBA be able to help me purchase say a small residential apartment building?  Say 5-10 units, around $250k?  Thanks in advance!

Travis

 Android.  Samsung Galaxy S6

 Next goal of 350k a month?  I like the cut of your jib son! :)

I'd say give your local bank a call and talk to their commercial loan officers.  They'd be able to help you out.  

Ask questions.  It sounds simple enough, but if you ask questions, especially hard ones, then you'll know that person might not be a good fit for you.  I failed at doing that for one of my property managers, and it bit me a little.  My new property manager not only answered my questions, but we had a discussion about expectations, and we found that we were a good fit for one another because of that.  Hope that helps!

Travis

 Hi Brandon,

I believe they are at 4.5% at the moment.  I'd have to double check, but that's the number that sticks in my head.

Travis

Hi Brandon,

Check around, as there's many commercial lenders that will loan for residential properties.  I went that route, and because they are commercial, they don't care about reaching a set amount of rentals in your portfolio, only that the place you're getting will cashflow higher than their requirements.

Be warned though, almost every lender I have spoken with does only up to 20 years, not 30, so that might skew things for you a bit.  Hope that helps!

Travis