Simply a start; inititial step toward accountability
Where do I begin? In the past, I've run and owned a couple of companies, along the way and currently am a director of 400 in my '9-5', but real-estate continues to nag at me like the urge to jump would to a couch-bound kangaroo.
I've poured over books and the stories of other people. I've poured over this site, a literal wealth of information. In the end, I have to figure out how to begin!
So my thoughts have come to the chicken and the egg. Which should I buy first? The fact that no-one has ever conclusively answered the question begs my own; who cares? It seems, whether I bought a chicken, or an egg, my flock will have begun. So perhaps, the answer is, the next one I see.
In pondering why I haven't begun or where to begin, I've decided that I need some accountability along the way.
So, for accountability, I turn to you.
If you care to join me, watch and heckle, I welcome the eyes and voices.
Plans? Oh, I've got plans. Goals? Sure I have goals too. In fact, I likely have too many. I have two lines of thinking...
The buy and flip model. I have owned a few of my own homes and have a bit of experience doing that, but nowhere near what it would take to say I have any real experience in doing this. I simply know it could be done. A basic outline:
- analyze 30 deals this month
- 10 offers next month
- 1 flip in the next 6 months
- Partner and grow the network
- Build and pay everyone who works with me, well
- 4 flips in a year (may 2018)
- 5 during the next, and (2019)
- a buy and hold 2 or 4-plex to boot. (2019)
- 12 buy and holds in portfolio (2020) and
- average a flip every other month (2020)
Or perhaps this version:
AirBnB and the like. Searching for homes just outside of the downtown, active area. Homes that are between the airport and conferences, meetings, games and religious venues. I do use AirBnB quite a bit, and feel that there is a lot of potential, though a bit more risk, in this method.
Analyze 30 homes this month
offers on 10 next month
1 owned and running in three months
reevaluate and reconsider after the first.
Comments