Investing Success Story - Newbie to Million Dollar Deals in 4 yrs

53 Replies

I wanted to share my personal success story with BP to fully encapsulate my experiences and hopefully motivate others that were in my position when I first started looking into real estate investing four years ago -- a recent college grad, mounds of student debt, and not the first clue in the world how to invest in real estate. See my first ever post on BP below, asking questions about house hacking. Little did I know that four short years later I would be a professional real estate investor with 500+ deals under my belt, 50 flipped houses, and under way on my first commercial development. 

Stick to your guns, learn every day, and always ask why. See my first BP post and story below:

"Originally posted by @Evan Manship: 

posted over 3 years ago

Hey BP,

First time poster, long time reader. I am currently living with my parents but am considering purchasing my first home using FHA financing.I understand that FHA requires "owner occupancy" for at least one year, but the question I have is:

Can I use FHA financing to acquire a property while still living at home? I am thinking of buying a 4-plex, but instead of renting out the 4th unit that should be mine, it will be vacant.

How can I utilize this loan product while living at home?

All info and tips are appreciated in advance.

Thanks to all!"


First post - June 2013

First deal - February 2014

First wholesale - July 2014

First flip - January 2015

Full-Time Investor - September 2016

First Development Deal - December 2017

See my group's latest and greatest below -- a three story, 9,500 square foot, mixed-use development in Indianapolis' historic Old Northside, sandwiched between breweries and million dollar homes -- just the way I like it!

A craft brewery has signed a letter of intent to occupy the bottom floor retail space, while a local title company has done the same for the 2nd floor office space. My group and our six employees will occupy the third floor of the space and accompanying outdoor amenity as our new headquarters.

Indianapolis is the perfect market for our group, our investors, and our model. Going full-time into this industry is the best decision I have ever made. For those wishing to jump full-time into real estate, get to work, go for it, and always #AskWhy. 



Try to resist the urge to collect rent in liquid form from your 2nd floor tenant...

@Evan Manship

Crushin it!! Buy multifamily. You will love the aspect of being able to build a business, and create some type of passive income

Congratulations

Gino

Evan thank you so much for posting this! I relate to your post because I too had just graduated when I got my duplex (which I'm currently house hacking) :p I got big goals to do the same thing in 5 years and sometimes I get weird looks when I tell someone what my plan is but you are proof that with some hustle I will get there. Keep on keepin' on I'm sure this is just the beginning! 

@Evan Manship

Thanks for posting. Definitely inspiring and let’s me know I’m not moving fast enough (taking enough action).

Awesome and inspiring. I've been on Bigger Pockets a few years and have graduated from reading about deals to putting together large development deals to now wholesaling and rehabbing full time, so I congratulate you on your successful journey! Keep on and stay strong and I'll come by when I am in Indianapolis and look at your building and get inspiration. By the end of next year I plan to have my own just like it.

How'd you do 500 deals already, doing what, Sub 2s? Good job!

The renderings looks great, congrats!

Inspiring!! Thanks for sharing! 

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Amazing story, @Evan Manship . Would love to have you expand on your journey in this thread or another one. I'm sure BP would promote the piece, as well. 

How were you able to grow so fast? any tips or tricks? 

I'm currently trying to close on my first duplex through a 203k and it's sounding dim. Was your fourplex an easy purchase, or lots of hoops and ladders to go through?

Thanks!

@Evan Manship That is a great post. Congratulations on your success. I remember when you were a Newbie getting started in Indianapolis.

Congratulations on your success!!!

Very impressive and inspiring growth. Can you expand on how you were able to grow so quickly and get investors as well? 

Congrats On your rapid success. Do you feel you reinvented the wheel or followed the advise from established pros. Thanks for sharing.

Very inspiring story, I just read your post to my 18yr old daughter to show her whats possible with real estate!!

This is awesome to see! Keep pushing man, this was fuel for my fire.

@Peter T. The BRRR strategy is king and turn key real estate investing is absolute trash. I have never understood turn key investments as I have no ability to sell and realize my equity built in the deal (which is none with TK). I didn't come from any money but I worked the same capital back and forth many, many times to rent and refinance over and over again.

@Dave Charron Happy I could be an example. Happy to help if anyone has questions!

Thanks for sharing! Congratulations! Always nice to hear when someone has been successful.

Originally posted by @Evan Manship :

@Peter T. The BRRR strategy is king and turn key real estate investing is absolute trash. I have never understood turn key investments as I have no ability to sell and realize my equity built in the deal (which is none with TK). I didn't come from any money but I worked the same capital back and forth many, many times to rent and refinance over and over again.

@Dave Charron Happy I could be an example. Happy to help if anyone has questions!

How did you get investors? I see your website the 10% private money preferred return over 12 months, which is nice. 

@Peter T. I read Rich Dad Poor Dad in high school which really changed my mindset. When I graduated from college, I wanted a job in real estate so that I could leverage my knowledge into my retirement portfolio of real estate. My first gig was a property tax consultant valuing large multi-family properties, office deals, retail properties, and other large scale commercial deals which provided me with a LOT of knowledge into the real estate language. 

People I met on BP, family friends, etc. provided me with ample opportunity to discuss goals and quasi-raise capital through organic conversations discussing possible opportunities. Pair that with beginning to acquire in 2012 through 2018 and you've got a pretty solid profile for balance sheet building.

@Evan Manship your story four years ago is similar to my story now.  I graduated three years ago and have been in the accounting field since.  Student loan debt is a burden, have a little bit of real estate investing knowledge, and I'm also from Indiana (just about 45 minutes from you)!  Congrats on the success!  Definitely an inspiration to stick with it and be a part of something other than a 9-5 job until I'm to the age of sixty.

Definitely going to have to check out your commercial development when it's up and going in Indy!

Great job! And how did you deal with students loans? did you get rid of them first or let real estate take care of it?

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