Today marks one year since I created my bigger pockets account! I spent the next 365 days enveloped in growing my real estate business.
This is just a short summary of my activities from the past year and my goals for next year!
Upon joining BP I only owned one rental property. Since I have doubled this buying my second property with my Roth IRA (20% down, trad. financing) in July. I signed a great long term tenant and have been cash flowing over 300 dollars per month!
And now In the past two weeks I have a purchase agreement signed for our third rental that should close in February and will cash flow close to or better than our July purchase! Both of these rentals are in the central Minnesota market!
That's the exciting stuff!
Since, I've also listened to every podcast on BP, some several times. Josh and Brandon are so funny.... I've read, mostly, The one thing and J Scott's book on Estimating rehab costs. I've driven over 100 miles "for dollars", I've spoken to several lenders, using two. I've seen dozens of homes, I've ran almost hundred deals through paper math, on excel, and a few dozen through BPs rental calculator.
I still have my full time job as a manager at a major retailer. I watched my daughter turn one and spent a ton of time with family. I've spent even more time explaining my plans and goals to my wife about real estate, p.s. she's just as excited!!
In the next year my goals are to close number 3, and buy two more at least!
I owe so much of my growth in real estate to BP and the countless resources provided here for free! Thank you BP. I hope others can use this to take steps to reach their goals!
thanks for sharing ! Where about in minnesota @Jacob Seaquist
Great progress Jacob! Keep it up!
Great job, Jacob!
Keep it going, you're doing great.
@Jacob Seaquist that's fantastic! Is it easy to find tenants in central MN? Are you renting out SFR?
Great work Jacob!
Thank you for sharing your story.
Thank you for sharing your story, I hope my year success story is just as successful as yours.
Congrats on your one year achievements - keep up the hard work!
I am looking forward to reading your next post.
Thank you all for your kind words.
@Rashad Kennedy - I am investing solely in Saint Cloud, MN with the three current properties. It's where I grew up so I know neighborhood by neighborhood! I'm always looking on the MLS and through my realtor for deals throughout the 94 corridor from St. Cloud to St. Paul.
@Laura Thorne - Yes I've had a lot of quality interest in both my current properties. I have long term leases with both, 1 for 2 years and 1 for 2 yrs 3 months. All of my investing has been in SFRs. My first is a 5-2, my second is a 4-2, 3rd (pending) is a 3-1. All have been rehabbed to the top of the rent market for SFRs in St. Cloud.
Keep the questions coming! I love the Minnesnowtans coming out to post comments.... And everyone else :)
Have a great night everyone!
Wishing you (and your family) continued success in 2016!
Thanks for sharing, Jacob!
This is awesome Jacob - I have one rental, and one we live in. Hoping to follow similar to your footsteps!
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