Personal Purchase Update
My newest house is complete! I’m still working on the refi so the full post will have to wait.
The basic numbers are as such:
Purchase price – 50K
rehab – 15K
ARV – 90K (est)
Rent – $950/monthly
This was a GREAT deal and I got lucky in a few ways. I’ll be excited to share the full details once the financing is finalized.
What happened in November
I went to Texas!
I made my way down to Dallas to talk real estate with a friend I made online. I took a lot of pictures, we took advantage of some great networking opportunities, and I got some decent pics! Networking is an incredibly important part of your career, and I don’t mean just meeting people, but BUILDING RELATIONSHIPS. If it’s not genuine, it’s not shit.
I finally installed email capture on my website
Don’t worry I’m still not going to sell you anything! If you sign up, you’ll pretty much just get this newsletter sent to you once a month. No spam, and no nonsense, just a way to stay in slightly better contact so you don’t miss me when I go stratospheric.
I started doing a casual video chat with my brother
We talk weekly anyway so we thought maybe some people would be interested to hear our take on current events, complex topics, and just because it’s fun. Though at the time of this writing we haven’t uploaded anything. Soon!
What’s going to happen in December
Not much to be honest. In some ways this is good, in some ways bad. The last few months have been very busy for me, especially since the BP podcast. I’ve been getting a lot more opportunities and I don’t want to expose to any large risks by moving too quickly unnecessary. Also known as shiny bouncy ball syndrome.
So December is going to be focused on what has the biggest long term ROI: reading, writing, networking. I’ve been learning more, and a lot more about risk and while the world goes a little crazy, I want to remain tempered. Interest rates are rising, deals are getting harder to find, and competition is growing. I’m not predicting anything, but I don’t need to chase outsized gains just because everyone else is. No one else seems to be talking about slowing down or increased risk at all: this causes me concern.
So I’m going to wrap on my house, try to find another one. Work on the website, and maybe try to find a podcast appearance. That said, I’m always open to the right unplanned opportunity.
Books I read this month
Manufacturing Consent – Noam Chomsky
Rules for Radicals – Saul Alinksy
Antifragile – Nassim Nicholas Taleb
Bed of Procrustes – Nassim Nicholas Taleb
Fooled by Randomness – Nassim Nicholas Taleb
I read this book “Skin in the game” by Nassim Taleb earlier this year, and didn’t really know what to expect going in. I forget now why I originally read it. It was nothing like I’m used to. It was hard to like at first, and it’s a tricky read, only about complicated topics. It sucked me in though, and it does not take long to realize he’s brilliant.
Then I picked up Anti-fragile this month and it really blew my mind. I can not get enough of this guy since I started. I’ve been watching YouTube videos of him, I cleaned off his book of Aphorisms: Bed of Procrustes. Which is an incredibly unique text of essentially modern day poems of economics, culture, behavior, ancient wisdom, and shit talking! Before I even finished I decided to start reading Fooled by Randomness at night by hard copy (Something I never do).
The whole series is called ‘Incerto’ and after I read the last one “Black Swan” I’m going to write a blog post about the whole thing. I may read them all again first. It’s this good.
Want to get involved?
in 2019 it’s likely we are going to spend some considerable amount of time looking for a large multifamily property. If you’re interested in participating, talk to me about where you fit in. More information will come in this newsletter as time goes forward.5
I need someone to help me create a video page and tell stories. If you’re interested in Videography and story telling and want to work on some pet projects that I think have potential, I would love to hear from you.
Social media marketing. I’m no good at this, I need help creating a strategy and process. I’m not really sure what I need to be honest, but people ask me how they can help: this is an area I know has opportunity
Ever built and sold a course online for….anything? I’ve been slowly working on something I could market and sell that would provide tremendous value to people who want to do what I do. If you’re interested, and can help don’t be shy.