My mid(ish) 2016 update
Howdy BiggerPockets!
Can you believe it is August already??? Where did this year go so quickly?
I posted way back in December on the 2016 goals thread and want to give you all an update on my progress.
Between getting married, a large downsize and moving, family health concerns with several family members, and sailboat racing I have not had the progress I wanted by this point. The original target was a fourplex by May. Now come August I currently have one unit, which my wife and I wound up moving into after the renters moved out because she is going back to college for a Nursing Masters degree. It is an ideal location for us and significantly cheaper than where we were. Kinda a step backwards there. I did not quite latch on to any fourplexes near where we wanted to live.
What else have I done?
- Looked at a 12 unit. It would have been a clincher but unfortunately after inspection it was found to have rotten bones and sewage seeping between the units (yuck!)
- Located a couple dozen nice target properties that have not received owner responses as of yet (keep moving forward!)
- Spoke with owners of a couple duplexes that ultimately led nowhere
- Set up an REI partnership
2016 has been one of the most intense years of my life and just this week I have been able to take a breath and look around me. I have completely missed the mark so far, but I am really excited about the REI partnership that I just formed. It is myself and 2 buddies. One owns a construction company (always good to have on hand) and the other has been my BFF since I was 5 years old (kinda had to include him since he is interested in REI too ;) ). Both of my partners are inspiring and motivational gentlemen and we have fired each other up and I want to get this REI train back on track and running hot!
As the rest of this year marches on I am going to be posting updates here for encouragement and accountability. In fact after posting this I am going to see about multifamily possibilities in my hometown of Chehalis, WA.
Thank you all for being an awesome community as we together strive for financial freedom!