​I QUIT MY JOB THIS WEEK!!! (with help from BP, at 31yo ;)

​I QUIT MY JOB THIS WEEK!!! (with help from BP, at 31yo ;)

J. MartinPro Member
Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes

Say it with me: “I QUIT!!!”

As Bigger Pockets’ motto says, “Life wasn’t made to be lived in a cubicle.”
So I’m not going to any more!!

Been a Wild Ride!!
Going from nothing - to buying my first foreclosed 4plex with an FHA loan, partnerships buying poorly maintained single family homes and 2-4 unit buildings from foreclosure, probate, off-market (or combination), several partnerships and loans to and from local BP members, furnishing apartments for 1-3 month stays, several cash-out loans, >$1MM in RE, $250K in gross rents, organizing a big RE Summit, discovering all the amazing data out there, having some challenges along the way, giving back to the community and volunteering, and having the opportunity to give back and help other investors with my experiences – has been a wild ride!!!! (See my BP profile or signature link for more details privately.) And I actually enjoyed my job, but I'm going to enjoy this more!!!

From Nothin' to Somethin'
I started with no cash, negative net worth, and a pocket full of dreams. My goal was to be able to wake up whenever I wanted, wear flip flops every day, and do some traveling :) After a lot of hard work, help from others (mostly on BP!), some leverage, and a stroke of luck, I was able to build a portfolio of high cash-flowing properties in the San Francisco Bay Area, along with another profitable real estate venture with a lot of additional opportunity. This income, along with my frugality – coupled with a business that allows me to operate remotely – will let me travel around the US and world, work on my own schedule, and follow my dreams, wherever they should take me! These goals were instrumental in building my business – because I didn’t want to have to show up to make money!!! :) *think about this when growing your business!*

BP (and the people on it) were Instrumental!!
Bigger Pockets forums, podcasts, and the people I have met here have opened my eyes to knowledge, wisdom, and opportunities I would have never thought possible. But I wouldn’t have come to where I am today if I hadn’t started posting and interacting on the forums, connecting with other local investors online, and meeting them face to face (eventually starting my own RE meetup in SF, and snowballing into a big RE Summit with so many great folks from BP). But BP was the start of it all. Before that, I was wandering around by myself in the desert, learning bit by bit, without a network of amazing people to lean on for advice, and ultimately do great deals with, borrow and lend funds, and most importantly, make some great friendships :)

Shout Outs!
I have to give a big shout-out to  @Johnson H. for first introducing me to BP, and a lot of investors down in Silicon Valley and San Jose. A big thanks to @Account Closedundefined

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Rental Property Investor · Arlington, TX · Member since 2012 · 788 posts · 640 votes
10y

Congrats!  Way to make things happen and never give up. 

I'm not sure how so many Americans get brainwashed into working 40 hrs a week for 40 years so they can then live a modest lifestyle when they can now barely enjoy life.  Glad to see you break from the chains.

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  • Passaic, NJ · Member since 2016 · 22 posts · 9 votes
    10y
    So incredible to hear these kinds of stories. It's extremely motivating for an individual like myself who is just getting into real estate. Wish you the best of luck in your future endeavors!
  • Investor · North Hollywood, CA · Member since 2016 · 3 posts · 1 vote
    10y

    @jmartin Congratulations! :))))

  • Investor · Santa Monica, CA · Member since 2015 · 54 posts · 16 votes
    10y

    @J. Martin

    Congrats! What an inspiring story! Thank you for sharing.

  • Investor · Cedar Rapids, IA · Member since 2013 · 494 posts · 407 votes
    10y

    Been there and done that.  Haven't regretted it for a microsecond.  Congrats and thanks for showing others it can be done.  

  • Investor · San Jose, CA · Member since 2012 · 2k+ posts · 3k+ votes
    10y

    J,

    You dedicated the time to study history. Your timing was good. Most importantly, you took the risks and found a niche along the way. You came up with a plan and executed it. 

    You have an open mind and are willing to listen. People make fun of you when you present the data. This reminds me of the saying "The thing about smart people is they sound like crazy  people to stupid people." 

    Your result speaks for itself. You were willing to make sacrifices and created a life you want. Others spend their time living the life they don't want while building other people's dreams. You understand the success doesn't come to you; you have to go to it. Welcome to the flip-flop and sleep-in life.

    CONGRATS!

  • Real Estate Investor · Houston, TX · Member since 2015 · 29 posts · 5 votes
    10y
    Congrats!!! Very inspirational!
  • Investor · San Jose, CA · Member since 2014 · 167 posts · 146 votes
    10y

    Congratulations. Enjoy travelling around the world.

  • Residential Real Estate Broker · San Mateo, CA · Member since 2013 · 585 posts · 264 votes
    10y

    @J. Martin I follow the San Mateo (and other nearby Peninsula markets) a lot because I work with retail buyers looking for single family homes with great school districts all the time. I personally do like the East Bay (spent 4 years out in Berkeley) and should have been heading to those Meetups sooner. I was busy across the pond surrounded by Gothic Architecture, tea and crumpets, and libraries when I should have been here!

  • Johnson H.Pro Member
    Investor · San Francisco, CA · Member since 2010 · 910 posts · 889 votes
    10y

    @J. Martin Congrats on your achievement! I think your passion, persistence and out going personality puts you at a level above and beyond many investors here on BP. It's not easy doing what you did in when you first had the Richmond fourplex. I'm sure you encountered many naysayers but you found yourself a niche and exploited it. You've spent a lot of time doing due diligence as well, which many others here don't see, and not just time in front of the computer but boots on the ground which many don't/won't do. Just promise me you'll watch your leverage and come back to the bay when you can! 

    Have a great time traveling J, you'll love it, get those credit card hotel and airline bonuses, they have gone a long way for me in traveling on the cheap!

  • Abhay K.Pro Member
    Investor · Fremont, CA · Member since 2012 · 64 posts · 45 votes
    10y

    Congrats J. Your passionate data-oriented approach to RE is both inspiring and infectious. You are very approachable and giving. You deserve this success. World needs humble down to earth role modwls like you. I will always remember the silver brick at SJ meetup, memorable indeed.  :)

  • San Francisco, CA · Member since 2016 · 1 post · 1 vote
    10y

    awesome

  • Bulawayo, Zimbabwe · Member since 2015 · 1k+ posts · 253 votes
    10y

    Inspiring. thanks for sharing your journey and how BP got you going

  • Investor · Pasadena, CA · Member since 2015 · 52 posts · 16 votes
    10y

    Congratulations!!  Your story is an inspiration.

  • Investor · Bay Area, CA · Member since 2014 · 207 posts · 190 votes
    10y

    J, Congratulations!  I think you are the first local person reached out to me on BP, then I met Minh & Johnson along with other investors.  Now I don't have to read news and books on RE, I just hang out with you guys and absorb.  Keep doing what you enjoy, it is working for you :) 

  • Rental Property Investor · Atlanta, GA · Member since 2016 · 58 posts · 13 votes
    10y
    Originally posted by @Mark Ainley:

    @J. MartinWow that is exciting news!!!!  I imagine you will be motivation and inspiration to many other entrepreneurs on this sight!  Congrats!!

    congrats @J.Martin!!

    this is such an inspiration to me.. my enthusiasm just sky rocketed after reading that post,I guess I made the right decision joining BP today.

  • Mt. Morris, MI · Member since 2015 · 6 posts · 2 votes
    10y

    I may have literally just started here today but reading your story encouraged me to start my journey.  Congratulations on your success!

  • Walnut Creek, CA · Member since 2016 · 10 posts · 9 votes
    10y

    @J. Martin Congrats again, you have been an amazing mentor and a major inspiration. Enjoy the whiskey and the travels! Keep us posted what you're up to. Are you keeping a travel journal or blog?

  • Investor · Antioch, CA · Member since 2013 · 79 posts · 58 votes
    10y

    Sending you many congratulations, J! How awesome! You've worked hard for this and deserve every moment of freedom. Enjoy! We need to connect soon -- a lot has changed on my end and I'd love to bring you up to speed.

  • Rental Property Investor · San Francisco, CA · Member since 2013 · 1k+ posts · 1k+ votes
    10y

    @J. Martin enjoy getting sand in between your toes in SE Asia!  Once you chill out on the beaches in Thailand for a month or three, you'll understand :)

    And welcome to the unstructured life. I think it's your calling.  

    My last 9-5 (and having any commute) was in 1999...and I haven't looked back. Which is why I'm so adverse to driving anywhere more than 3 miles from my home.  Next step now is for the wife to quit. We're looking at September as her quit work date. It'll be nice getting both of us on the same page. 

    Life is short. Act on your goals and desires. cheers. 

  • J. MartinPro Member
    OP
    Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
    10y

    Timing, history taking risks, executing on plan, finding a niche, and keeping an open mind..
    @Account Closed

    “J, You dedicated the time to study history. Your timing was good. Most importantly, you took the risks and found a niche along the way. You came up with a plan and executed it.

    You have an open mind and are willing to listen. People make fun of you when you present the data. This reminds me of the saying "The thing about smart people is they sound like crazy people to stupid people."

    Your result speaks for itself. You were willing to make sacrifices and created a life you want. Others spend their time living the life they don't want while building other people's dreams. You understand the success doesn't come to you; you have to go to it. Welcome to the flip-flop and sleep-in life. CONGRATS!”

    THANKS SO MUCH MINH! :) I still remember when we were talking on the phone on Thanksgiving Day 2014, talking about wanting to quit the W2 for real estate, and it not quite being the time. Things have come a long way since then ;) I still need to shut up and listen more, but I’m getting better! I did make a lot of sacrifices (and still do), but now is the time to start reaping the fruits of those sacrifices, while I continue building my business. Thanks for giving it a shot in San Jose too. And again, your mentorship and friendship has meant a lot :)

    I don’t worry about trying to convince people how valuable historical data is any more. I noticed that most that yell about how useless (or harmful) looking at historical data is are still working a W2. So like @Aaron Mazzrillo said, I’m not going to shout at all the people who don’t care – but I’m happy to share it with those who do.. They can post that from their desk all day while I am traveling around hahahhahhaa

    Persistence, pushing through the Naysayers, Due Diligence, and Leverage

    @Johnson H.,
    “@J. MartinCongrats on your achievement! I think your passion, persistence and out going personality puts you at a level above and beyond many investors here on BP. It's not easy doing what you did in when you first had the Richmond fourplex. I'm sure you encountered many naysayers but you found yourself a niche and exploited it. You've spent a lot of time doing due diligence as well, which many others here don't see, and not just time in front of the computer but boots on the ground which many don't/won't do. Just promise me you'll watch your leverage and come back to the bay when you can!

    Have a great time traveling J, you'll love it, get those credit card hotel and airline bonuses, they have gone a long way for me in traveling on the cheap!”

    Johnson, the man who introduced me to BP, and buying when I was still trying to get an offer accepted.. It really was inspiring seeing someone my age, in my position, doing exactly what I planned on doing. Don’t think I’d be in the same place if I didn’t meet you! Thanks so much!! And yes, a lot of time was spent on due diligence! Especially driving, walking, and talking on the streets! As I looked at the info posted above, I was purchasing all my 2-4 units in Richmond and Oakland at $120/sq ft or below, even in West Oakland in late 2004. And they all produce great cash flow (except the last that appraised at about 60% more in 18mo and did cash out.)  People told me I was crazy at the time, but I think the results speak for themselves ;) With that kind of cash flow, I think it would have been a good risk-adjusted bet either way, even without this fantastic appreciation ;)

    I am keeping an eye on my leverage.. I’m watching it rise after these cash-outs!! Lol Seriously though, I have good cash flow coverage and the increased rents since I bought (even unfurnished) are in line with the increased leverage. Importantly though, I have significantly increased my liquidity, so feel even safer, even with more leverage. You can pay 30yr fixed rate loans for a long time with liquidity ;) And yes, I will definitely be hustling those points! Still have quite a few from work days :) Thanks for introducing me to the “game” Johnson!!! So are you still looking for a deal now? Or just waiting until things soften..? Btw, you know Roberto lives in Fairfield, and has his laundromat there, right? Have him give you a tour some time!

    Meetups can lead you to amazing places!! And new adventures..
    @David C,
    I didn’t know I was the first to reach out to you from BP. Then Minh, Johnson.. It’s amazing how things can evolve from the people you meet! Look what you are up to now. That’s why I really like meetups too. You never know where the ideas and connections will take you.. Wishing you guys the best of luck! Looks busy so far! :) Are you going to come back when the numbers look better and/or less competition?

    Life is Short! Retirement. Livin' the Life..
    @Amit M.,
    “Life is short. Act on your goals and desires. cheers.”
    That’s what I’m saying!!! :) I agree, I think it will fit my lifestyle better. Congrats on your wife’s upcoming retirement. Now you’ll have more opportunities to travel and spend money ;) hahahahahha Enjoy it! I was just looking for an inexpensive convertible as a thought for my cross-country trip lol Gotta live a little right!?? We’ll see if I go that route..

    @Jeff Pollack,
    “Congrats again@J. Martin! It is always great to hear inspiring tales from folks. It is something we all need. Always great to read your posts and chat with you. Thanks for the insights on that Oakland property. I saw it Thursday. Super light rehab and expect to be under contract this week.”

    Thanks Jeff! Always happy to share my 2 cents on Oakland :) Congrats on getting this property tied up! I probably would have made you an offer on it if it were more suited as a rental, but I’m sure it will work out as a quick whole-tail. Call me if you get any rentals or in-place tenants where you can’t flip! (Have anything else now? I think I forgot to ask you the other day when we were chatting on the phone.)

    Spreading the Love; Silver Bars

    @Abhay K.,
    “Congrats J. Your passionate data-oriented approach to RE is both inspiring and infectious. You are very approachable and giving. You deserve this success. World needs humble down to earth role modwls like you. I will always remember the silver brick at SJ meetup, memorable indeed. :) “

    Very kind of you Abhay :) Much appreciated. I always thought I was a little loud-mouth and arrogant, but glad not everyone thinks that! Lol Since none of you brought me a deal, I ended up giving that silver brick to my handyman as part of his year-end bonus!! He loved it! :)

    @Alnie F.
    “@J. MartinCongrats again, you have been an amazing mentor and a major inspiration. Enjoy the whiskey and the travels! Keep us posted what you're up to. Are you keeping a travel journal or blog?”

    Happy to help out Alnie :) Glad you could make it out to my retirement party, and thanks again for the whiskey!!! :) I’m going to enjoy it! Hope your first tenant turns out awesome! So what are you up to next? Relax and collect the rent? Search for the next one..?

    @Erin A.,
    “Sending you many congratulations, J! How awesome! You've worked hard for this and deserve every moment of freedom. Enjoy! We need to connect soon -- a lot has changed on my end and I'd love to bring you up to speed.”
    Where have you been Erin?!? (The Far East bay still? Aka Stockton hahahaha) I kid. Yes, let’s catch up! Hope all is going well. And never heard what happened with your craftsman.. Do you have a post on it?

    @Ryan Landis
    Sounds like England? A great excuse to not be at the meetups earlier! Lol Not going to meetups earlier is actually one of my biggest regrets. But you live and you learn! Keep it up!

    @Radhika M.
    Thanks Radhika! Why don’t I see you at more of the meetups? You don’t want to chat with us?!

    @Comfort S.  l and @Steven Palmer
    Welcome to your first day of BP, and yes, it can be done! I recommend getting active posting on the forums, asking questions, and go to a local meetup in person!!

    @Sebastian Bedoya , @Michael Nakh, @Milad K, @Glenn McCrorey, @Carl Tides, @Bhezwike,@James Thiel, @April Benard , 

    Thanks for the shoutouts!! What are you all doing to work on retirement..? 

    @David C.undefined

  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    10y

    Hey @J. Martin congratulations! 

  • Walnut Creek, CA · Member since 2016 · 10 posts · 9 votes
    10y

    @J. Martin building gun powder and just watching market for now. Always looking... and will act when the right opportunity is found. This is a bit addicting. :-). Had also tons of fun in your party, got to meet the local RE idols @Amit M., @Arlen Chou. Too bad I missed @Account Closed! 

  • Investor · San Jose, CA · Member since 2012 · 2k+ posts · 3k+ votes
    10y

    @J. Martin,

    "I don’t worry about trying to convince people how valuable historical data is any more. I noticed that most that yell about how useless (or harmful) looking at historical data is are still working a W2. So like @Aaron Mazzrillo said, I’m not going to shout at all the people who don’t care – but I’m happy to share it with those who do.. They can post that from their desk all day while I am traveling around hahahhahhaa."

    When you don't care what anyone thinks of you, you have reached a dangerously awesome of freedom.  That's the attitude.  :>)

    @Alnie F., had you stuck around for a bit longer, you would have met an awesome flipper of the Bay @David C.  The other two gentlemen are much more smarter than me so you didn't miss anything.  Hope you picked their brains.  David and I had some personal biz to take care of on that day thus we showed up late.  There's always next time though.  I'm debating if I should make an effort and show up for J's last meet up in SF on 4/7.  :>)

  • Ian WalshBusiness Member
    Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
    10y

    Congrats!

  • Investor · Monmouth County, NJ · Member since 2013 · 49 posts · 11 votes
    10y

    That is so great for you @J.Martin!  Posts like this make me want to dig deeper to figure how I can make this happen for myself and my family! 

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