I’ve decided to try and do monthly updates to catch people up on all my projects at once rather than weekly random articles with no particular coherence. This will be the first of many! 

Personal purchase update

My latest purchase has finished rehab! We had finished it and tried to rent it for about 10 days and then went through and made a few more adjustments. The house had wood paneling on the interior which was quite a bit outdated. I was confident that we could get the house rented as-is, but I wanted top range of rental income, and I really wanted to make sure this house will appraise for 85K or better. So after the rehab was complete, I looked at the pictures and decided it was worth sinking some more money into. I had my team pull the wood paneling down, install new counter tops, and a few other small odds and ends. Now we are back to looking for a tenant. The pictures are before we went back to redo those items.

This project has been going a bit slower than my last one. My contractor has a ton of his plate lately (somewhat thanks to work I’ve brought him) so this has fallen a bit to the wayside. Fine by me really because we have both been focused on other mutual projects. All that said, I’m happy to wrap this one up and get it profitable.

I started my side of the underwriting for this deal 2 weeks ago! That means as soon as tenant signs the lease at this property I can go apply for a mortgage with my lender, he’s going to ask me for a laundry list of “stips”: loan documents to satisfy lending requirements. This will include W2’s, tax returns, bank statements, insurance for all my properties, hoa statements, paid tax bills, etc. I have all these documents prepared already so as soon as the processor asks me for that list I can give them to her instantly, this speeds up my underwriting immensely AND it makes the loan processor’s life really easy. Win/Win/Win

I spoke on a panel regarding long distance investing

Speaking is something I’ve always been intrigued with, and there is a TON of value in it, but it’s a talent like any other: it must be practiced. I was fortunate enough to share some of my knowledge at a local real estate meet focused on out of state investing. I was happy to share my knowledge and hopefully, I’ll get the chance to do it again soon!

Thanks to Neil Henderson of www.summerskycapital.com for snapping this great picture of me! And another big thank you to Outback real estate investor group of Las Vegas for giving me the opportunity to share what I know.

Here is an article for Biggerpockets about why it’s important to build a team BEFORE you buy a house

The link to that article is here:

Newbies, if You Want to Land a Property Within 12 Months, You Need to Do THIS Now

I started using my talents and knowledge to help other people duplicate my process

Towards the middle of the month a guy reached out to me expressing interest in replicating my process. We made quick friends and started ramping him up to understand how I make money so easily. I showed him how I buy houses, introduced him to my ground team, and on August 21st we had an offer accepted on a GREAT DEAL.

Purchase price – 34K

Rehab estimate – 25K

ARV – 85K

Rent – $950/month

This is a sick deal and very happy I could help a stranger to make money using what I’ve already learned. I certainly couldn’t do it without my great ground team in place, so I’m thankful for them stepping up so well to take on these new clients.

It seems as soon as we started making some successful progress in this area another client reached out to employ my skills in the same manner. I’ve begun to move towards this opportunity in what I’ve tentatively called “Alexandria Consulting”. I will look to expand on this new demand and try to help as many people as I can.

What’s going to happen in September

I’m going to buy another single family home

Maybe my last for the year. I really want to move into a commercial purchase next year so I’m trying to slow down my cash usage for the time being. I fully intend to spend the majority of my cash assets on a large apartment and it’s unlikely I’ll have access to that income again for a while. So I’m hoping to get one more deal done and then shift my focus on the next big obstacle, although I will continue to assist others

I’m going to fincon 2018

My friend Lee Huffman goes to Fincon every year and raves about it. My FOMO was kicking in hard this year so I looked into it. It’s a conference for financial bloggers which neat but I’m not a blogger, rather I WASN’T a blogger. I literally started this blog so I could go and network and have a reason to participate. That was in December and since then my blog has provided me with far more opportunity than just one conference. If you’re on the fence about content production then my suggestion is to just get started. Put something together and start practicing, the results I’ve had in just 8 months have been staggering. Highly recommend.

Books I read this month

Are you reading consistently? This has been the massive life changing habit for me. Sad I wasted so many years thinking I was smart rather than working hard at actually learning. I clean off books at a blistering pace these days to make up for lost ground, you can see my list of August additions here:

Never Split the Difference

Raising Private Capital

Hitch-22

Guns Germs and Steel

Change your Mind

Want to get involved?

People are always asking how they can bring value and get involved with our process, but I’m not always sure what talents people have. Here is a short list of things we could always use help on. If you are looking to be part of a growing operation and think you can help us do better, reach out!

  • Blogging/writing/proofreading
  • Finding multifamily deals in North Carolina
  • Social media  strategy
  • Photography/videography in Las Vegas
  • Podcasting
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Alex Felice

Alex Felice

My name is Alex, I live in Las Vegas and I’m a very high energy, loud, and eccentric guy. I like to talk about things that are high concept and important, no small talk! I like controversy, I speak with conviction, and I’m not a fan of rules. Oh, and I'm super into real estate investment.

3 Replies to “September 2018”

  1. Hey Man

    Awesome material, I listened to the BP podcast and wanted to reach out. I am in MA looking to start my RE investing journey outside of my head. I would love to have quick conversation with you. J

  2. Hey, Alex! I wanted to ask you some questions, but I don’t have the time to temper them down right now so I can be brief and not waste your time. I just wanted to say that I appreciate all the time and detail you put out there to help the community and people like me.

    Also, there was a big discussion surrounding the theory of Guns, Germs, and Steel in one of the history classes I took about four years ago at University of Washington; I didn’t read the book, but rather watched the documentary. It was pretty interesting to read about geology–and land formation itself–being a huge determining factor of the technological and economic growth of a nation. It surely humbles any nation that would boast in their own self-worth or inherit value of race. I definitely saw traces of such a theory as I went through many other history classes–especially in East Asia!

    Again, thank you, and I hope to be contacting you soon! I like anyone who likes controversy–it’s through controversy, digging deep meaningfully, that we begin to understand and appreciate one another. It’s a shame how many people get offended by argumentation, which, to me, is just my way of rationalizing and understanding different perspectives.

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