All Forum Posts by: Tommy Ray

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $495,000

Triplex AirBnB with income that adjust seasonally. Summers much better than winter. Explosive growth of Austin and San Antonio (both within an hour) helps greatly. Value already 550K and growing.

What made you interested in investing in this type of deal?

Huge growth factors in this area--jobs! Also people displacing from work centers to home working

How did you find this deal and how did you negotiate it?

Realtor.com as well as had driven by it a few times

How did you finance this deal?

Cash / 1031 buy

How did you add value to the deal?

The marketing campaign aded

What was the outcome?

55K in appreciation in a few months - 7 months

Lessons learned? Challenges?

Buy in areas of surging growth and demand due to population swings post 2020 election

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes I did. Angie Borras out of San Antonio TX was the broker who helped me buy as well as manages the asset

Looking to launch a campaign to buy homes, train people to serially invest.  Trying to locate the ideal firm that would facilitate a "homevestors" like marketing campaign...  Any ideas?

I would like to play!  I live in San Antonio but have vacation condos and stuff in Canyon Lake TX

To do this will require lots of information, adaptation, shared learning, shared opportunities, and open-mindedness.  How do I grow to be relevant and generationally impactful?

Quick Intro... My name is Tommy Ray.  I was born into poverty.  Father killed in the line of duty when I was 7 on the Louisville police department. Raised by a mother that hustled and owned businesses as well as invested--she was a millionaire by the time I enlisted in the military.  I served almost 21 years in the Air Force.  Investing in real estate and stocks concurrently 17 of those 21 years.  Now with 32 years of real estate experience I realize I may have a gift of teaching and mentoring.  My first mentoree crested over 100 mill in net worth recently  and bought a jet a month ago.  He reached out to say thanks as he has each year for years now.  I have raised a few millionaires under my wings but I want to take it next level and do it for many...  HOW DO I DO IT CREATIVELY?  

I want to establish a cultural almost ideological approach to goodwill, investing, and creating interlocking efficiencies with investing.  An integrated eco-system if you will.  Real estate is and always will be a team sport over the life of the asset.  Think of the number of occupations and services connected to the real estate industry!

@Ockert Kruger sometimes conventional wisdom like a 40K house needs to bring in $400 a month in rent (1% rule).   If the 40K house has been a single family home but it is a 3/1 near JOBS, bus line, and something touristy.  Maybe one of the bedrooms has a private entrance and can be a suite unto itself.  You lease our the home by the bedroom to contractors / workers and you AirBnB the suite you will surely get more than 400 a month in rent.  In addition you get an immersive learning moment ...  that immersion learning IS PURE GOLD.  Once the creative mind captures the vision, the other hemisphere takes over to codify it into processes, checklists, and all of it comes together in a beautiful way as you walk, talk, and network differently constantly adding pieces and parts to your business model and expanding your base (people, awareness, biz models you gain ninja skills in, and more.....). Follow me for more tips...  Trying to build the next generation of real estate investors that are thinking outside the box... 

@Bronson Simmons my issue starting out was I messed up the scope of my income centers as well as thinking too small.  I just wanted to be a millionaire by the time I retired from the military.  I was thinking about just the rental income from the homes.  When in reality the journey is the homes, the homes cross collateralized for the apartment buildings (or 1031'd), then you selling your expertise for a piece of larger projects with no cash in the game, then your training and education monies as you help people get up to speed.  The gratification from launching people to the moon.  My first mentoree just sent me a thank you text.  He had bought himself a jet as well as 36 million in real estate in Nov - Dec 2021.  Every year or so he reaches out and does that...  His net worth is well over 100 million now.  Think big.  With the digital world we live in it is easier than you think.  Follow me for more tips.  

Tell them stories of regret...  Tell them I wish I had done "X" and why...  what was learned in retrospect...  But only after you have learned them.  What is their greatest fear, hurdle, and limitation.  Breach each within your delivery.  Talk to the due diligence, teaming, deal structure, how to measure the value of the home or its highest and best use you will take it to...  defeat every objection.  But start the process with.  I am a fiduciary I represent your best interests (if you are their agent).  If you don't buy this deal do you mind if me or one of my friends do?  

@Natalie Onacki GIRL!  I got you.  The Texas A&M Real estate center is the singularly unique resource that all Board of Realtors feed their market data into.  It is free to you.  Here you go: https://www.recenter.tamu.edu

Lots of data right there to cue the best decisions for you and your family and friends.  I personally am plowing millions into Comal County, TX zip code 78133.  That wraps around Canyon Lake, TX.  It is an hour from Austin and San Antonio as well.  HOME RUN...  I have about 2 mill invested in that area in less than a year and it will only go up...  I bought 1559 Parkview Dr, Canyon Lake, TX 78133 unit F2 for 48.5K a few years ago...  comps for it now are 179K.  20045 FM 306, Canyon Lake TX 78133 for 365k less than a year ago and my agent is talking like it is nearing 1 million as a finish out a back duplex to complement the front 6-plex.  I can hook you up with an agent, a game plan and a decent network too.  Follow me for more tips. 

This is my specialty.  With 21 years in military service I can tell you...  Everything can be broken down into a process.  Building your team in your target investment area starts before you have bought an asset.  The broker / property mgr(s) you will screen is the most critical step.  They are uber networked.  You are hiring them at least in part for exactly that.  So-o it is important you or your virtual assistant talk to them all if you can.  In the process you are going to realize that there are many that SUCK.  WRITE THEM DOWN...  Those property mgrs are where you are going to find deals later ;).  The good ones are the ones you will have to screen.  You screen them with skillfully selected questions like "what is your priority task as you represent your fiduciary to me managing my assets?".  You are saying much here...  One, you know what a fiduciary is and thus you will expect that delivered to you.  Two, ASSETS means you are a repeat customer and they love that...  uncapped growth if they take care of ya.

Now to their response..

There is only one really rock solid response and it looks like this.  "Asset preservation.  Rent is nice but I need to maintain the asset so it can produce rent.  We can replace tenants, but the asset any neglect, abuse must be avoided and asset maintained by the "art" of what we do and how we do it.  90% of issues are dealt with in tenant screening.  Lastly if we show to do repairs with the same energy we show up for the rent the tenant will see where our focus is.  Oops almost forgot.  We deal with issues in this spectrum of priority for you...  Safety, security, function, and then the aesthetics / pretty things....  Safety first!

I hope this helps!  Follow me for my good stuff.  I train and I educate the next generation of Americans trying to do it the right way

appreciation is the norm...  The component parts of a home and the transactional costs themselves are always going up....