All Forum Posts by: Shaun Palmer

@Dawn Brenengen. Thank you for getting back to me. Raleigh is a market that I am interested in pursuing.  Can we set some time up to chat?  I will send you a private chat following this message. Thanks Shaun

@Andrew S. Thanks Andrew.  Very helpful.  I did find Amy's info as well

Hey BP'ers!  I am new to the forum by am looking to gain some great knowledge from everyone on the site.  I have completed 2 flips but my goal is to start buy and hold for the long term to create sustainable equity in the North Carolina market(s).  Looking forward to connecting with everyone!  Feel free to reach out anytime.  

BP'ers,

I am writing what I am going to call my first post on this topic.  I am currently living in Massachusetts and actively looking to move back to NC shortly.  I lived in Raleigh, NC for about 4 years and it was great.  I moved up to Massachusetts with full intentions of moving back to NC within a few years.  I am also ready to start investing in real estate (again) "somewhere" in NC.  Please don't get me wrong when I write "somewhere", I am certainly doing my own due diligence on where I think would be great location.  However, I thought I would reach out to my fellow BP'ers as well. 

Keeping the intention in mind of moving back to NC, I am also actively looking to start investing in buy and hold properties for the long term before I return.  I have flipped a few properties and while this is great, I am looking to create long term equity.  Now that I am many states north of NC (where I want to invest), I am finding it more difficult to invest from afar.  Obviously you know the challenges with this.  To name the biggest, I used to perform about 90% of the work required to create equity in my properties.  I cannot do this from afar.  Therefore, I am going to need to start building a team of great people in order to get this show started again.  

One of my main purposes in writing this post is to identify areas that other investors are currently in to see if they want to share any great teams for investing (this is a big ask...I know!).  I need to start building a team in a specific location.  What I am really asking is to get some contacts so that I can start networking with others in specific locations.  I am looking for the following:

1. (1) Local Bank Contacts
2. (2) Realtors (investors themselves)
3. (3) Property Managers (will definitely need a great PM if I am investing from afar).
4. (4) Handymen (PM's will most likely handle this but it would be great to get some contacts as well).

I know that this is probably a big ask  but any help or contacts would be great.  Thanks so much.

Shaun

All,

First...thank you for giving me the opportunity to be a part of BP. I have recently started listening to the podcasts and reviewing the site as I am going to get started (again) with REI and thought this was a great place to network. There is some great material here and I am very excited about meeting new people/investors. I thought that I would start my first post by telling a little bit about myself and why I joined BP. I thought this would give everyone an idea of who I am and my intentions. So here goes....

Purpose (2)

- Portfolio Creation / Income Properties (Raleigh, NC)

I currently live in Massachusetts and am a recent transplant from Raleigh, NC.  Now I know what you are thinking...why did you move from Raleigh to Massachusetts (No offense to anyone in MA but man the winters!)!  I can tell you that it was for work purposes as I was very happy in Raleigh.  However, I am fully engaged in creating a vehicle to return to North Carolina.  With that, I am looking to start investing in RE again from a distance and once I am able to return to Raleigh, I will already have a portfolio started.  I have flipped two houses in the Pittsburgh market approx 5-8 years ago and was a great experience.  I actually did very well on both of the flips and learned a TON in the process.  Although I am interested in flipping, my true goal is to start a portfolio of buy and hold properties.   I want to create an income driven vehicle that performs well (as we all do!).  

- Networking (Raleigh, NC)

I am also looking to network with others in the Raleigh, NC market.  I can certainly appreciate and understand the value in finding an experienced professional that has been investing for quite some time.  There is a lot to learn and I am always humbled by what others can teach.  My career has certainly been successful for these reasons and having a a great network has always been a big part of that.  So I thought, there is no better way to restart this RE engine, than to start networking with successful individuals. 

Background

I have an MBA with a concentration in finance as well as a civil engineering degree. I have worked my way up in my career by starting in the construction industry building houses (as a carpenter) and now I am a project manager for a very large corporation in their development department. I am very knowledgeable in the field of construction and finance and this is part of my drive for getting started in REI again.

I have a lot of drive and determination and am willing to work for everything earned.  I strongly feel that an education is only as good as the person earning it.  I did not obtain any of my degrees because I thought it was what everyone else was doing.  I earned all of my degrees because I sat down, evaluated my current situation and where I wanted it to go, then created the vehicle to get there. My engineering degree and MBA were those vehicles that I earned while moving through my career. The same for the 2 houses I flipped. It helped me achieve a goal. I feel that I have been successful by creating opportunities in my career. REI is and has been a goal in my career for a while now and it is time to earn that success. 

I have read many, many, many RE books (as most RE investors have) and I think that I am done reading (at least for the moment)! It is time to restart this career of REI.

Goal(s)

My short term goal:

10 income properties that return a healthy cash flow. I will flip houses if necessary in order to create the cash flow needed to get to 10 and I will also do whatever it takes to get creative as this is the name of the game.  

Long Term Goal:

Financial Independence.  I know this is a big term and I have set goals for retirement, retirement income, happiness, family life, etc... I will refine my long term goal as I move forward with real estate.  For now, they are life goals and not essentially just one long term goal with real estate.  Therefore, it would take a lot of time to really explain my life, long term goal.  Let's stick with the short term goal and we can chat over coffee about my long term goals!

Introduction / Meeting

If you are in the Raleigh, NC area (or surrounding area) and are looking to network, please reach out.  Even if it is to say...hey...and you are in the area and want to just share some info.  I would love to network and maybe we can sit down over a coffee sometime or at least a phone call.  You can look me up on LinkedIn if you would like as this would give you a better idea of my background as well.  

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Thanks and I look forward to hearing from everyone!

Shaun