What 2021 accomplishments are you proud of?

196 Replies

We saved enough cash to pay off nearly $50k in student loans (still waiting to make that big payment, in case of an unlikely student loan cancellation), while also positioning ourselves to soon be ready to make a down payment on our second rental/first multifamily!

I've sent over 300 letters to multi family property owners and I've cold called over 100 with interest in purchasing their properties, which resulted in me making three offers (All were rejected) in the last two months. Three more than last year.

What I am the most proud of is I started my journey almost six month ago. Since then I have been absorbing as much real estate investing information from Bigger Pockets and other sources. I then took action and got a lender/ fellow real estate investor (1st member of the team). From there I am in contract on a duplex that is for sale by owner with it to close in the next 30 days. With the possibility to buy a second property from the same landlord. I have property manager now (2nd member of my team). I have also been in contact with my tax preparer ( 3rd member of my team). All properties are out of state. What a whirl wind and a learning experience going through the process yourself instead of being just sign here type of person. Thanks Bigger Pockets you have changed my life. Have a wonderful day.

@Kaylee Walterbach I'm proud to say that I will be buying my 14th flip next week (this is my first year flipping) and that I've read 109 books so far this year. About 15 percent on real estate investment.

Still 10 more weeks to go in the year. A lot more can still be achieved.

@Matt Anderson

This unsolicited suggestion is worth exactly what you paid for it, but have you considered Robert Kiyosaki's strategy of buying an asset to pay off a liability?  Maybe apply that 50k towards a property and let the cash flow from the property pay the student loan debt for you?  That way, you will still have paid off your student loan debt (on an income statement - not a balance sheet), but will also have an appreciating asset for the future?

I'd be hesitant to pay off a student loan early as they're typically at favorable interest rates.  Anyway, I know this strategy isn't for everyone, so congrats on saving that much coin in the first place as that's quite a feat!

Originally posted by @Chris John :

@Matt Anderson

This unsolicited suggestion is worth exactly what you paid for it, but have you considered Robert Kiyosaki's strategy of buying an asset to pay off a liability?  Maybe apply that 50k towards a property and let the cash flow from the property pay the student loan debt for you?  That way, you will still have paid off your student loan debt (on an income statement - not a balance sheet), but will also have an appreciating asset for the future?

I'd be hesitant to pay off a student loan early as they're typically at favorable interest rates.  Anyway, I know this strategy isn't for everyone, so congrats on saving that much coin in the first place as that's quite a feat!

Thank you! We did consider this idea. Ultimately, we felt like we wanted to get this paid and totally behind us as soon as possible, so we have aggressively been paying these down. Maybe not the most mathematically optimal solution, but we will be proud to pay it all off fast and never have to think about it again. Should also help our DTI to get this out of the way. Plus, we are getting pretty close savings wise to be able to pay off the student loans AND have a down payment, so that should be best of both worlds!

@Kaylee Walterbach

After purchasing my primary residence at the end of 2019, and having a temporary set back with a long term tenant that didn’t work out after 3 short months in 2020, I’ve successfully leased both rooms to medium term tenants within one month of listing in Q4 2021. It feels great to “live for free” and I am excited about what the future holds in life and RE endeavors!

Cheers to everyones success, learn from everyones failures, and happy investing!

What 2021 accomplishment are you most proud of?

For me, taking small steps to begin my real estate investing journey. I've listened to a ton of episodes on the BP podcast and I'm on my way to my first deal. Hopefully next time, my goal is to be a guest at a BP podcast episode and share my success and learning to some who are still on their way in beginning their real estate investing career.

On January 1, I set a 90 day goal to buy my first out-of-state rental. Using the Intention Journal and taking small steps each day, I brought 12 units under contract by the end of March and closed in May. So stoked and grateful to the BP Community!  

I will be closing on my first investment property this month. A 203k Construction loan which has been a process, but the harder the process the less likely others are willing to do it. 

What a great question @Kaylee Walterbach

In 2021 I've got out of my comfort zone, and started utilizing private money from individuals. It's extraordinarily rewarding when I've created returns for my investors, jobs for contractors in my community, nice housing for my tenants/ buyers all while creating wealth for my family! 

I’m most proud of completing a 7 townhome development from the ground up despite having financing pulled / cancelled with no notice due to COVID related concerns after having already started the project and therefore no corporate banks would touch it since the project was already started.

Ultimately, I drew the plans, went through zoning/ permitting, demoed the existing structures on property, did all the land clearing. framed it, siding, installed all flooring, stairs, trim, stonework, storm water retention ponds & site work.

At the end of the day I completed the project all paid for out of pocket and sweat equity!

The end result was 7 beautiful 2 bedroom 2 1/2 bath townhomes each with 2 car garages.

Fully furnished and renting as Short Term Rentals in the Outer Banks.

They’re valued at double my amount invested!

On to the next project!

Cheers!!

Originally posted by @Lauryn Meadows :

What a great question @Kaylee Walterbach

In 2021 I've got out of my comfort zone, and started utilizing private money from individuals. It's extraordinarily rewarding when I've created returns for my investors, jobs for contractors in my community, nice housing for my tenants/ buyers all while creating wealth for my family! 

So I am wondering. What were some of your first steps in "utilizing private money"? I understand that finding a good deal is key, but what kind of deals did you start to look for and why? I know every market is different and I am in southwest Florida (which is a crazy busy market right now), but I just want to pick your brain and see what your thought process was.

Originally posted by @Jonathan St.Leger :

I’m most proud of completing a 7 townhome development from the ground up despite having financing pulled / cancelled with no notice due to COVID related concerns after having already started the project and therefore no corporate banks would touch it since the project was already started.

Ultimately, I drew the plans, went through zoning/ permitting, demoed the existing structures on property, did all the land clearing. framed it, siding, installed all flooring, stairs, trim, stonework, storm water retention ponds & site work.

At the end of the day I completed the project all paid for out of pocket and sweat equity!

The end result was 7 beautiful 2 bedroom 2 1/2 bath townhomes each with 2 car garages.

Fully furnished and renting as Short Term Rentals in the Outer Banks.

They’re valued at double my amount invested!

On to the next project!

Cheers!!

That is an awesome success story congrats on that man. I hope you keep that momentum going and continue to grow. I am sure in the moment though it seemed like super tough times.

I started my REI journey by house-hacking and full-gut rehabbing a two-family with an FHA 203k loan. My wife and I closed on the property and completely gutted it to the beams, right before Covid. Put well over 100k into the reno, pushing through the rehab during peak Covid and the lockdowns. Then two weeks out from finishing construction and putting a tenant inside, we unfortunately had to click the reset button and do it all over again-- thanks to smoke/soot damage from a neighbor's house fire which destroyed all progress and our personal items. True story. But we survived. My wife and I came out stronger in the end and although it wasn't easy, it all worked out. We gained invaluable experience overall and forced some good equity in the process. All with little down and the banks money (and insurance $$ second time around) for majority of the rehab. Some things you cannot teach or learn from reading in a book.. Best advice- get off the sidelines if you are reading this, it's worth it :)

Great question! I finally pulled the trigger and made my first international investment.  I have been trying to push myself to do this for years and at the end of 2020 I made it my goal to diversify my holdings and go international and it's paid off more than I could have imagined with a whole lot more to go! 

Not real estate related, but I have been thinking about making my own YouTube channel for a while now, and this year I finally started. It's been a lot of fun learning how to edit videos, while also progressively seeing myself get more comfortable in front of the camera. I live in Japan, so it's about my experiences and any cool places I go.

I’m most proud of walking through my grieving process after the loss of my husband early this year and still venturing into real estate after, bending up with three properties and a piece of land to close the year.

I’m proud that my head is still to in spite of the number of times I want to crawl into a space of fear, pain, and doubt.

@Colby D Hollins

We've only utilized for short term lending at this point on single family flips and a small a multi BRRRR.

For the 5 unit BRRRR we knew someone that needed to get funds from a home insurance claim. They needed to purchase a house with a bunch of different nuances to get the full amount from the policy. We partnered with them, and worked with the insurance company to purchase the five units with cash, and rehab. Once the property was stabilized we refinanced and pay them back their insurance claim $, plus interest.

For the flips, we’ve also used for short term lending. We paid 10% on the amount lended with a 6 month ballon payment, but typically we close and the investor is paid back in 4 months.

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