Thats right folks, working on contract of fourth property purchase since we started investing. 2 fix and Flip and 2 fix and hold. These two with only minor updates and repairs with tenants standing by. Thank You Bigger Pockets Family for the education, support and friendship. Tom & Roni.
Congrats! When did you start investing?
@Chris K. We started in May 2014.
Tom, y'all are in beast mode right now. Congrats on #4!
How did the Upshur flip go? Get as much money out as you thought? Would love to know details.
I still have Coushatta I'd love to show y'all. Should have a better grasp on foundation options after next week.
Did you see the "tomthehousebuyer" billboard on 80 just west of the spur? I thought that was you till I checked it out!
thanks Everyone. @Mike M. Haven't seen the sign but is probably friend of mine doing wholesale. The Upshur County home in Ore City is still in work status, finals, thank Goodness. That was first one and learning ropes and spending money. I better get what I need or I will have new contractor/partner. Some of the delay has been fixing one item and finding new one. The bamboo forest has perplexed us so bull dozers going out next week to rid property of stubs and roots. It will be a beauty (I hope).
Congrats on # 4!
Congrats keep up the good work
thanks everyone. I'm sitting kitchen in number 3. Waiting on radiant barrier and insulation crew. Jason the window guy should be here today also. Then it's off to see # 5.
Great job @Tom Keith
You definitely hit the ground running. Keep up the good work!
Thanks @Austin Lee we are having Fun so far!
Tom just make sure every property is a winner.
New investors get a taste of success with one property or transaction then want to go on a huge buying spree.
Never buy just for the sake of buying to hit volume goals or talk yourself into OK deals.
Your capital will get depleted, you will spin your wheels to break even, and you will have bad portfolio averaging occur.
Portfolio averaging is taking the total return of all your properties. If you have some great deals, OK deals, and some bad ones then your average can be zero or negative for total returns. I have seen this happen with investors trying to build volume too fast or adding for the sake of adding. It's better to have 5 great investments then 4 great, 3 average, and 2 bad.
Glad you are finding success. Hope it helps.
@Tom Keith I don't know how big of an area of bamboo you have, but the best way to eradicate it is to drown it.
Well I must say, I never thought I would read about drowning bamboo on this forum!
@Tom Keith can you give us a quick blurb about your 4 properties? How you found it, financed it, and a very brief summary of numbers and results? Would love to hear.
Oh, and congrats on your speedy success so far!
congrats @Tom Keith
@Joel Owens Thanks for the advice. Yes you can get into buying frenzy but I am utilizing BP to keep numbers in line and banker to keep my bottom dollar in line and God to keep Me in line. The deals are coming but have to watch the money.
@Lynn Currie never thought of that either. Would not work here I think, too much sandy soil and on a hill. BullDozer did the trick.
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