Michael Faulk

Bossier City, Louisiana

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I am currently a Area Supervisor w/ McDonald's supervising overall operations of a patch of restaurants in Shreveport, Louisiana. As with many of the BP community I am investing on nights/weekends to accomplish my long term goals.

Experience

Currently, I own 1 townhouse, 2 free-standing single family homes and am rehabbing a duplex. All of these units are in the same general area because I wanted to cut down on my time "running" around while I am working a full-time job. All of my houses are rentals.

My current strategy: To purchase properties rehab them and completed a cash-out refinance. This is the strategy that I used on all except the first house. I have had my ups and downs but I have pushed through and this strategy fits currently.

I am starting to become involved in our local REIA (Highland Rental Association) in Shreveport, LA.


Real Estate Goals

My goals are to continue to build my rental portfolio (Currently have 5) and grow by 1-2 a year (this is realistic for me currently).

My 5 year plan (approximately by 2017) is to have enough cash flow through my rentals to pursue real estate full time.

I would like to venture unto "flipping" preferably with a partner within the next year. I just want to have enough cash flow through rentals to support the business.

Update: 4 goals for 2014
1) Become a licensed Realtor in state of Louisiana
2)Continue to grow utilizing private investors. Currently, I have completed one transaction with private money and it went seamlessly
3) Work on my negotiation skills.
4) Continue networking with local investors.


Currently Seeking

Always I am seeking to learn something new about real estate investing. A day doesn't pass that I don't read the informative posts from the contributors on BP and am continually "sharpening the saw".


About Me

Began Investing February 2011
Member Since March 27, 2012
Website about.me/michaelfaulk
Shared Files: Michael's FilePlace (1 file)

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