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Updated about 5 years ago on . Most recent reply

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Gregory Schwartz
  • Rental Property Investor
  • College Station, TX
1,025
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What did I just do! Full-time investor during the Coronavirus!

Gregory Schwartz
  • Rental Property Investor
  • College Station, TX
Posted

Did I pick the best time or the worst time to jump in full time as a real estate investor? 

December 2019 - I very confidently left my full-time job as an active USMC officer making over 100k a year.

January 2020 - With ambitions of combining the 2 strategies of Househacking and BRRR I spend ALL of my investment money to buy and rehab a 280k 4-plex. I simultaneously began my career as a real estate agent with Keller Williams.

February 2020 - With an empty investment account, 1 unit rented and 2 nearing completion I first hear of Coronavirus concerns.

March 2020 - Corona is in full swing, lockdowns happening nationwide, wife's employer (a gym) is shut down and no one's buying houses. But with a decent savings account buffer, I remain nervously excited for the future.

I did not see this coming. Fully expected have at least a few houses under contract and my wife expected to be working full time. The blessing is that we live well below our means and thanks to the house hack we have very low housing-related expenses. Despite all of this I started a campaign to buy off-market distressed duplexes and 4-plexes as I continue to attempt to grow my portfolio and goal of financial independence through long term buy and hold multifamily. 

Any other optimist out there convinced that this tragic event can provide huge opportunities?

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Schwartz Realty Group
5.0 stars
74 Reviews

Most Popular Reply

User Stats

1,032
Posts
1,025
Votes
Gregory Schwartz
  • Rental Property Investor
  • College Station, TX
1,025
Votes |
1,032
Posts
Gregory Schwartz
  • Rental Property Investor
  • College Station, TX
Replied

@Keith Hill we just went got the "shelter in place order". I'm about to write the next BiggerPockets book, "How to fill a rental property during a pandemic".

business profile image
Schwartz Realty Group
5.0 stars
74 Reviews

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