Need Inspiration? Check out this post!!!

Need Inspiration? Check out this post!!!

Fairview Heights, IL · Member since 2015 · 48 posts · 27 votes

So I have officially purchased my very 1st multi family home! For a little background I have very humble beginnings. The highest education I have is High School. I did go to college but never finished. Parents had no money .  But the point is Im a regular guy with a regular job and I was able to accomplish this seemingly insurmountable task. Me and my wife live on 1 side while they other is being rented!  

3 bed 2 bath duplex in a solid "B" area about 5 min away from an Air Force Base 1400 sq ft on each side. seller also installed a new architect shingle roof after purchase for us,  mortgage  675 average rent for the neighborhood is 850 to 900

It needed some work and truth be told I never really worked with tools before. I spent my youth playing sports and I had a talent for the piano. So power tools kinda intimidated me.

My in-laws who new we purchased the place bought me a power tool set for christmas and my and my wife just dug in.  After about 1.5 months and a million trips to lowes, menards, and home depot we finally got everything finished. I will say that a lot of repairs for the home aren't nearly as difficult as it looks!  We had a blast and I now LOVE working on stuff at home and even better It made us closer as a couple and now we can wait to start it all over again. 

We are now looking at a single family home directly across the street for 40,000 can't wait to get started!!!  Big thanks to bigger pockets family. You all have been a huge help and a source for inspiration after reading the success stories for motivation. God has truly blessed me and I am grateful that an average person like me can think ahead to the future and not have to rely on finding a job that will give me a decent retirement plan. 

To all the people who are on the fence, or think they can't because of the situation you are in financially or you don't have the education or the smarts to do this. ME AND MY WIFE ARE LIVING PROOF YOU CAN NOW GET OUT THERE AND GET IT DONE!!!!

sorry for typos

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Joe SplitrockPro Member
Moderator
Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
10y

@Jacob Beard my favorite part is that you worked with your wife. Like you, I have put a ton of sweat equity into my properties and it is a great way to get ahead. My daughter is learning to play piano, which in my opinion is harder than most home repairs, so it doesn't surprise me you could do it. I just want to tell you great job and you have my respect for making it happen!

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  • Investor · Plano, TX · Member since 2015 · 74 posts · 22 votes
    10y

    Congratulations

    Taking action is the answer, and you proved it!

  • Joe SplitrockPro Member
    Moderator
    Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
    10y

    @Jacob Beard my favorite part is that you worked with your wife. Like you, I have put a ton of sweat equity into my properties and it is a great way to get ahead. My daughter is learning to play piano, which in my opinion is harder than most home repairs, so it doesn't surprise me you could do it. I just want to tell you great job and you have my respect for making it happen!

  • Investor · Norwalk, CT · Member since 2015 · 4 posts · 0 votes
    10y

    Jacob, that awesome! The word that stand out to me is "dug in" because that's what it takes.  The greatest failures is never trying. There is nothing average about you. Way to go!

  • Real Estate Investor · Winston Salem, NC · Member since 2015 · 25 posts · 9 votes
    10y

    @Jacob Beard I enjoy that you AND your wife tackled this project. It's encouraging to know that taking action can lead to fantastic results. Congratulations!

  • Port Huron, MI · Member since 2016 · 20 posts · 3 votes
    10y
    That's awesome! Great job!
  • Rental Property Investor · Lynnwood, WA · Member since 2015 · 45 posts · 21 votes
    10y
    Thank you for the Monday inspiration Jacob Beard .
  • Rental Property Investor · Katy, TX · Member since 2013 · 417 posts · 171 votes
    10y

    Awesome story @Jacob Beard It is easy to fall back on the desire to learn more before jumping in, I know that many of us fall victim to analysis paralysis. You are an inspiration as I have never been very handy but I may trust more in my abilities after this. Thanks. 

  • Fairview Heights, IL · Member since 2015 · 48 posts · 27 votes
    10y

    @Mike Jury , @Maxwell Anyimah-mensah, @Ryan Morgan Thanks for the comments!!!!

     @Daniel Hansen Man without her help would've been difficult @Joe Splitrock thanks for the words they are very encouraging and thats awesome your daughter is learning piano! If you have any questions pertaining to anything involving music don't hesitate to message me. I've done private piano lessons for about 10 years. @Lou Capone thanks we use that term dig in when its time to cut the crap and get serious lol. @Jordan Decuir Dude you would be so surprised how easy this stuff is I'm not joking. Plus a bonus is chicks dig guys with power tools! I promise! Lets just say this pass month Ive been a very satisfied married man !!! Lol

  • Investor · Orange County, CA · Member since 2016 · 113 posts · 24 votes
    10y

    Jacob, such an awesome story, very inspiring, thank you for that!  Congrats to both you and your wife and I wish you both much success on your future investments! : )

  • Boxborough, MA · Member since 2014 · 230 posts · 62 votes
    10y

    Yay for you!!! Congrats!!!! Your story is inspirational. Please post again!

  • Tom SpaethPro Member
    Investor · Denver , CO · Member since 2011 · 129 posts · 59 votes
    10y

    @Jacob Beard  Great Job. You are in an awesome area where you can find deals. Keep going for it. Good to keep your costs low and pick up the tools. But always remember you will make more money doing deals than swinging a hammer. So only swing the hammer when you have no deals to work.

  • Investor · Saint Louis, MO · Member since 2015 · 204 posts · 37 votes
    10y

    @Jacob Beard Awesome story man!!! I'm sure a great feeling. What Air Force Base are you close to?

  • Sebastopol, CA · Member since 2016 · 50 posts · 14 votes
    10y

    Congratulations @Jacob Beard! Your story is truly inspiring to us newbies. Thanks for posting!

  • Real Estate Investor · Harlingen, TX · Member since 2016 · 8 posts · 4 votes
    10y

    Congrats, to you and your wife Jacob. You are truly an inspiration to the rest of us. Good luck and keep up the good work.

  • Fairview Heights, IL · Member since 2015 · 48 posts · 27 votes
    10y

    Thanks everybody @Tom Spaeth I will keep that info in mind for our next purchase.

    @Carol Zeroual Thanks and i think i will post again we got some before and after pics to show as well.

    @David Beckley Thanks we are near Scott Air Force Base

    Thanks to everyone who commented

  • Julie MarquezPro Member
    Investor · Skagit County, WA · Member since 2016 · 1k+ posts · 807 votes
    10y

    Very cool story of trying something new and keeping strong through the process. And look at the awesome results for your family. Congrats!

  • Investor · Saint Louis, MO · Member since 2015 · 204 posts · 37 votes
    10y

    @Jacob Beard We are near Scott AFB as well! We need to connect! I've done most of my business on the St. Louis side, nothing in Illinois yet.

  • Rental Property Investor · Algonquin, IL (Chicago suburbs) · Member since 2014 · 155 posts · 76 votes
    10y

    @Jacob Beard Congrats!!! Amazingly inspirational...keep rolling forward!

    Brian

  • Gordon CuffePro Member
    Investor · Roseville, CA · Member since 2009 · 1k+ posts · 583 votes
    10y

    @Jacob Beardgreat story. It just shows you that it doesn't matter where you start from as long as your willing to put in the extra work, you can achieve your goals. You just motivated me to call more sellers this week so that I can wholesale more houses in St Louis and beyond.

  • Investor · Hillsboro, MO · Member since 2014 · 57 posts · 16 votes
    10y

    Very Inspiring! Thank you.

  • Chicago, IL · Member since 2016 · 7 posts · 9 votes
    10y

    Truly awesome is all I can say.

  • Sandy, UT · Member since 2016 · 11 posts · 3 votes
    10y
    Originally posted by @Jacob Beard:

    So I have officially purchased my very 1st multi family home! 

    Congratulations! This is the most motivating type of post. It sounds like you were on the fence about plunging into your first deal. What was the tipping point? Did you go with conventional financing? Where did you find the tenants? How long did that process take? Best of luck. I hope you post updates on being a landlord/property manager. Thanks for sharing. 

  • Full-Time Investor & Agent · Amherst, OH · Member since 2014 · 149 posts · 50 votes
    10y
    Jacob Beard Nicely done and great inspirational story for all! Now you are blessing others with your story. God bless!
  • Auburn, GA · Member since 2015 · 58 posts · 11 votes
    10y

    Great job Jacob! I am so proud of you for taking action!

  • John CasmonPro Member
    Cincinnati, OH · Member since 2013 · 1k+ posts · 1k+ votes
    10y

    @Jacob Beard Congrats! It's great when your wife is vested in this as well, makes staying positive and on track much easier! Do you have any before and after pics?  

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