As I've been reading BP posts and listening to HOURS of podcasts, there was just one thing that I never could get myself to believe: that money is everywhere.
I work full-time in Construction (the finance role) in Orlando, FL, and honestly I don't necessarily like my job. I'm good at finance, but I've always had an entrepreneurial heart. That is what initially peaked my interest in RE. I've always wanted to retire young and after finding BP and hearing podcasts from @Brandon Turner
and @Joshua Dorkin I realized that RE could be my ticket.
One of my biggest challenges being a 25 year old and just recently out of MBA school is that I needed a couple of years in order to save enough money to get serious about real estate investing. I talked to my father about investing in my RE buy and hold business and he wasn't having it. Then the craziest thing happened...
The next day I walk into work (still needing a cup of coffee) and one of the construction project managers (PM) walks up to me and the conversation went something like this:
"PM: Hey, since your dad shot you down yesterday, I know that you are needing investors to help you get started in real estate. I think you've got a good head on your shoulders and I think I could scrape together $30,000 to $50,000 to help you get started in exchange for 8% interest. Also, since I'm in construction, I know a bunch of great contractors that could put "sweat equity" into the deal and rehab properties for you in exchange for interest payments on what their work would have cost until you pay them off.
PM: Yes, I really think you've got a solid plan put together and I want to help you get there.
Me: I'm meeting with investors and real estate agents for the next few months to get my foot in the door, but when I find a killer deal I'll let you know and we can do this thing."
Needless to say, that conversation woke me up more than a cup of coffee ever could!
No lie, just talking to him for 20 minutes about my RE buy and hold plan the day before peaked his interest enough to put $30-50k on the line. @Brandon Turner
always says that RE is sexy. I guess he was right!
That's awesome! Thanks for sharing.
People are afraid to talk about what they want to do with their lives. I have a very close friend that just happened to tell his former boss that he wants to flip homes for a living. His boss later cut him a check for $115k just because my friend told his story. It's amazing who is listening when you don't even know it.
This a great forum! Very encouraging for me. I've wanted to invest in real estate since I was 14 years old. I moved to Orlando to get started as I had a soft spot for vacation rentals, and figured this was the best place in the US for that, and now I'm here with a real estate license, an active business that is booming, tons of great deals rolling across my desk every day (none that I'm an investor in) and no time to really develop my game plan... meanwhile, after long and hectic days working with clients who are buying, and having learned a LOT about the vacation market here, I'm wanting to invest, with no money laying around. I just need someone to trust me I guess so I can get leveraged and put all this knowledge to work. Anyway... thanks for the forum post, I feel better already :D
It's good to know that deals are still flowing in this area... I'd love to connect to hear about what you've been seeing!
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