Real Estate Update
In January I wrote an end-of-year blog post as an excuse to get my thoughts out for what I spent my 2018 working on.
In that post I listed my real estate goals for the year as follows
I’m happy to announce that most of those goals have been completed already!
This is actually a problem with goal setting in itself. I almost always set goals too easy and then sandbag my ability. I’m getting better at it but it’s still frustrating to be constantly underestimating my ability.
All that said I’m happy to be wrapping a 24 unit which should close mid-June. I’ll have a post coming out soon for the whole thing as I don’t want to spoil too much just yet. It’s been stressful, and a bit difficult, and an excellent learning experience. Very exciting stuff!
My 8th rental has finished rehab and has a tenant moving in. Total figures came out to 68K all in 900 in monthly rental income which I’m happy with. I can’t refinance it while I’m in the middle of underwriting for the 24 unit so it’s basically on hold. I still set the deal up to use delayed finance but it’ll end up being a bit longer than usual. Good problem to have though!
My podcast is going well!
Actually that might be an exaggeration LOL! I’m getting better at it for sure but I haven’t been marketing this thing at all because it’s still a little embarrassing for me. The intro has been REALLY bad so I finally paid someone of fiverr to make me one which came out pretty good. I also changed the format a bit to be more engaging for listeners. These changes will be on episode #14 or so.
You can check out the most current episode below.
If you like the show rate and leave a comment on itunes!
Books I Read This Month
Books are so hit or miss man. Some are life changing and profound, and the other 90% are worthless. Can be annoying at times but this month I’m happy to have read some great ones!
The Creature from Jekyll Island: A Second Look at the Federal Reserve – Edward Griffin REVIEW HERE
Profitable Podcasting: Grow Your Business, Expand Your Platform, and Build a Nation of True Fans – Stephen Wossner
The Misbehavior of Markets: A Fractal View of Financial Turbulence –
Richard L. Hudson
The Dictator’s Handbook: Why Bad Behavior Is Almost Always Good Politics –
Bruce Bueno de Mesquita,
Upheaval: Turning Points for Nations in Crisis –
Excuse to post pictures
I’m not a photographer by any means but I do have a fancy camera and I enjoy trying to casually practice that hobby. I have no where to post these pictures most of the time, and since this is MY blog I’m going to continue to use it as a place to dump pics I like from the month.
Deal with it
Want To Get Involved?
Once this 24 unit closes and the dust settles, we are going to start looking for the next large property to syndicate and purchase.
I’m starting to alert potential investors of our plans now. This first multifamily was kept quiet because it was my first one, I didn’t want to over promise and under deliver. Now I intend to be much louder about my intentions and I want to bring in great investors to make money with.
Want to invest in my next multifamily real estate? Reach out!
If you know of a property for sale, or a great buyer/seller agent? Any advice or feedback on the blog/email/podcast is useful, don’t be shy. I’m looking for all the help I can get.