New members to BP currently residing in Asheville, NC. I have listened to almost all BP’s podcasts along with 5 other real estate investing podcasts. I also read every book I can find on multifamily investing. I am from the Fort Smith, Arkansas area and my wife is from Cincinnati, Ohio.
Sorry for the long post but I wanted to let others know who we are and what we are trying to do.
Real Estate has been and will always be a passion of mine. I wish I would have never stopped doing it for 7 years while I climbed the corporate ladder. I am currently trying to make up for lost time. I enjoy analyzing deals, finding opportunities that others may have missed, and enjoying the negotiating and buying process.
A little bit about us and our goals:
I am currently a Pulp Mill Superintendent in the paper industry and on LinkedIn. I am a Chemical Engineer by trade. I’ve been responsible for as many as 115 people and a $300 million dollar manufacturing facility with a yearly budget of $100+ million dollars. My wife is/has been the purchasing manager at these facilities and has managed $100+ million dollars of raw materials.
At our day jobs, we enjoy developing people, systems, and making other improvements by thinking outside the box in order to continuously improve profitability on a year over year basis. This is why we enjoy real estate since it is so similar.
In 2017, we bought our first two duplexes in the Cincinnati area. These duplexes are located in C+ to B neighborhoods (which will be our focus). We should have a conservative total cash flow of $800-1000/month. We did have a lot of "learning opportunities" during this initial phase. We are currently closing on a single family house that needs some repair but will make a good rental. We will continue investing in single family and multifamily opportunities (2-4 plex units). Plan to learn more about larger multifamily investing in order to increase cashflow and generate a monthly income of at least $8,000.
Our ultimate goals are financial freedom and to generate enough money to allow us to take the summers off to travel and explore the world with our kids! That is what life is all about! We both enjoy working so we will continue to work when we are financial free.
We want to connect with other like-minded individuals who enjoy investing in real estate and develop a network of people that we can contact to share ideas, opportunities, or to help out in other ways. We both enjoy teaching and telling others about our missteps so that they don’t make the same mistakes.
We currently invest in the Cincinnati area but are looking to invest in Arkansas (Little Rock), Kentucky (Louisville or Lexington), Tennessee (Johnson City or others), Indiana, or anywhere there is an opportunity. We hope to find some owner financing opportunities as well to increase our portfolio.
Potentially interested in partnering in order to do more deals as well.
@Jeremiah Cotner thanks for filling us in and joining the BP community. First off, are you still in NJ like you bio says? If so I live in northern NJ and we can grab a cup of joe to discuss RE. Regardless, I think I can be of help to you hopefully. I would say pick a market you currently know people in that can give you the low down and can look at properties or the area for you before you waster your time and energy going back and forth to a market. This will save you a lot of time. Once you pick a market stick with it for a while and don't chase the shiny object. Be an expert in that market so you can capitalize on a good deal when it comes.
best of luck and send me a dm if you want to talk further
Welcome to Bigger Pockets.
@Scott Morongell I haven't updated my bio yet but we moved to Asheville, NC several weeks ago. If I am ever back in northern NJ, I will take you up on the offer to grab a cup of Joe and discuss real estate. It is something I really enjoy talking about.
We are focusing on the Cincinnati area at this time and have been learning that market over the past 1 1/2 years. Sub markets play a big role in the Cincinnati area and we are only focusing on 2-3 of them at this time (more of blue collar neighborhoods). I am trying to increase my network in the Cincinnati area in order to have more deals to look at and crunch the numbers on.
I will dm so that we can talk some time
Welcome @Jeremiah Cotner ! I'm in Asheville as well, but don't do much investing here because of high prices. I do stick to the Carolina's though. Lot's of meet up opportunities and networking in this area!
Welcome to BP! I'm in the Asheville area as well and just picked up my first SFR in Cincinnati (Deer Park). Your investing goals sound very similar to mine. If you have any questions about the Asheville area (non-investment related), I would be happy to give you some tips/insight from a police officer perspective.
Welcome to BP. I'm a new investor residing in Cincinnati and investing in Cincinnati. Happy to connect on anything.
Welcome @Jeremiah Cotner ! I love your story! Are you and your wife seeking early retirement or to stay in your jobs and continue real estate on the side?
@Odie Ayaga My wife and I are looking to retire early. By retiring early, we want to take every summer off with our kids and travel. We also would enjoy living in other parts of the world for a year or two so that the kids can live in a completely different culture and learn a new language.
We enjoy our jobs and what we do....it's all about finding the right company and making a difference in the area we live in.
Real estate will be a side vendor for now. We have a goal to replace one of our incomes in 4 years. I enjoy networking, meeting like minded people, and helping others by giving them my limited amount of knowledge. I hope to help others as my knowledge grows. Real estate isn't all about the money for us. It's about the analysis and purchasing the property. We will see how it goes over the next few years but we are enjoying it!
@Derek Robinson Since moving to Asheville, I haven't had an opportunity to look at what meet-ups are in the area. Are there any you would recommend, especially for out of town investors? Asheville prices are definitely high. I am looking into other areas such as eastern Tennessee around Johnson City and other parts of the Carolinas in order to find some other opportunities.
@Wade Cecil Congrats on picking up your first SFR. We are in the process of closing on our first SFR next week so we will see how that goes. Deer Park seems to be a pretty good area based on what limited knowledge I have. I know Pleasant Ridge and Norwood pretty well. We will be looking at the west side of town with our realtor when we go back to Cincy in early December. If you ever want to meet up some time let me know. Work and kids keep us pretty busy.
If you have any insight as to which areas would be best for a 4 year old and a 7 month old that would be great. We are currently looking at which neighborhood to move to next after our apartment lease is up. We will probably end of renting another apartment or house next year. Every time we look and crunch the numbers, it looks like renting is the way to go instead of purchasing a primary residence. We would rather put our money in other investment properties.
If you would like to meet up sometime when we are in Cincy, let me know. We visit the area a couple of times a year to visit family, view our rental properties, look at other potential investments or new areas in Cincy. If you have any questions, feel free to message me and I will do the same. What are your interests (SFR's or small multi's) and goals? I know Pleasant Ridge and the Norwood area pretty well since that is where our focus is currently. Looking into other opportunities especially on the west side in December.
Hello! @Jeremiah Cotner
Welcome to BP, and congratulations on making the decision to invest in your future via real estate.
I have written a few blog posts that may help you get started here on BP, and with your investing. Please click on the links, give them a read, and share your thoughts in the comments.
First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:
The second is a post that will help get you focused with your real estate investing goals:
The last one is a post that will help you choose an “investor friendly” real estate agent. There are many agents out there, but it’s important to choose the right one.
I love answering questions if you have any! Good Luck :)
@Jeremiah Cotner Welcome to BP, I look forward to reading about you and your wife's investing journey!
@Jeremiah Cotner , I'm pretty introverted, so I don't network much (I know, dumb move on my part!). There is a local chapter of CREIA (Carolina Real Estate Investor Association) that seems pretty good. I've been to several meetings and even though I keep to myself, I end up talking to lots of folks investing in the same assets as me.
Welcome to Bigger Pockets.
Hey @Jeremiah Cotner it is great hearing about your journey. My wife and I are also investors in Johnson City Tn an area you seem to be interested in. We have done one live in flip, and are currently finishing up a second. We have also purchased 3 rental properties and are looking to expand. Our properties are all SFR but we want to do more MF in order to grow faster however, opportunities are few and far between. Any who, we would love to connect sometime. We love Asheville and would make a trip there in a heartbeat. We also love fellow investors who have the same vision as us. Best of luck in your future endeavors!
@Jeremiah Cotner - feel free to reach out if/when you are in town and I'd be happy to meet up.
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