​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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  • Hillsborough, NC · Member since 2014 · 39 posts · 3 votes
    10y

    Dude that is so AWESOME. Always great to hear stories like that. You inspire all of us who are still doing the job thing.

  • Vancouver, WA · Member since 2015 · 98 posts · 46 votes
    10y

    Awesome post to read on a MONDAY MORNING!!! Thanks for sharing!! @J. Martin

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

    @J. Martin I highly suggest a convertible for your road trip!  I drive a Mini Cooper convertible and just love it :)

    If you get a decent deal on a used one, you can probably sell it when you're done for not much less than you paid for it. I had a friend years ago who made a successful business buying used cars privately, then cleaning/tweaking them and reselling privately for a profit. Like RE hunting, you need to find and move quickly on an underpriced asset. And the hunt is a big part of the challenge (and fun.). Good luck. 

  • Jonna WeberPro Member
    Moderator
    Investor · Boise, ID · Member since 2011 · 1k+ posts · 736 votes
    10y

    @J. Martin - In Idaho - You can't beat Lake Pend O'rielle in Sandpoint in July or August (during the music festival), or hit the the Stanley/Sun Valley/Redfish area for hiking/camping/all around beauty in Summer.   So many more ideas - call or email me anytime for details as you make travel plans.  I was actually a travel coordinator in part of my pre-investing career. :)   

  • Investor · Mckinney, TX · Member since 2014 · 47 posts · 61 votes
    10y

    Congrats! Super excited for you!

  • Real Estate Investor · Houston, TX · Member since 2015 · 29 posts · 5 votes
    10y
    Originally posted by @J. Martin:

    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

     Actions to work towards retirement:

    1) Persistence- never ever give up. If a deal doesn't go as planned, use this experience as an invaluable lesson learned.

    2) Building systems and working towards yearly goals (10 rentals and 2 flips)

    3) Build a RE network and seek mentorship/guidance!!!!

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

    @April Benard Love it!  This sounds very much like my plan right down to the volume of deals.

  • Lender · Los Angeles, CA · Member since 2015 · 800 posts · 229 votes
    10y

    very cool man ... Congrats

  • Property Manager · Orlando, FL · Member since 2015 · 257 posts · 58 votes
    10y

    Congrats!!

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

    @Amit M.

    “@J. MartinI highly suggest a convertible for your road trip! I drive a Mini Cooper convertible and just love it :)”
    I like those mini cooper convertibles! I’ve always wanted a BMW convertible, and have seen some around $5-6K with around 125k miles. I figured if I take a $1k or so hit selling it later (assuming I doesn’t break down), that would probably be a worthwhile expense :) A reasonably priced “treat yourself.” ;) But then I saw something much more impractical like this Cadillac! Only 3 MPG, but done in STYLE!!! ;) What do you think!?! Kind of Fear and Loathing style lol Maybe roll through Las Vegas and Phoenix – kinda desert cruiser, no?..

    @Alnie F.
    Glad we could get you introduced to some of the BP locals like @Amit and @Arlen Chou  ;) @David C. & @Account Closed are too busy running around making money, so you have to stay late if you want to catch them! And thanks again for the scotch! Very nice of you :) I’m with you on just watching and saving cash. Expanding my furnished rental business to stack more cash, but not buying right now.. (I tried to get a 12k sq ft warehouse in Vallejo under contract last week for a special project, but someone else beat me to it..)

    Minh – what do you mean, “..debating if I should make an effort and show up for J's last meet up in SF on 4/7.”!?! Just come out!!! :)

    @Brandon Turner
    Appreciate it! So do you think you can come down again for the next Summit? Looks like a good group convalescing.. Should be a fun reunion :)

    @Jonna Weber 
    Thanks for the suggestions!!! I’ll be back in Cali in late July for a family reunion, but hopefully I can hit Idaho in June and still enjoy some of that summer weather and festivals :) I’ll bug you if I’m in the area! And I’ll let you know when I hash out the dates for the Summit. Hope you can make it back out!!

    @April Benard
    Thanks for sharing how you plan to get there!!! Most people just state they want to be there! Lol I think all those methods are great, and would add going to RE meetups in person, and following up with people after!

    @Mary Ann Casey
    Thanks so much! And it looks like you’ll make it to the meetup on 4/7..?

    @Alison , @Tannon Napper, @Rapy Narruhn, @Karen ,@James Thiel, @Steve S., @Isaac Blocher, @Ian Walsh
    Appreciate the shout-outs!!! So what are ya’ll’s plans on getting to that goal? What is your niche, and how many offers are you putting out there..? 

    @Alison Decastroundefined

    @Karen P.undefined

  • New London, CT · Member since 2014 · 8 posts · 1 vote
    10y

    CONGRATS!!!! That's inspiring, I can't wait to quit my W2!!!!

  • Residential Real Estate Agent · Grand Rapids, MI · Member since 2013 · 803 posts · 689 votes
    10y

    I love these posts! I am only a few short months from quitting my W2 as well. Congrats! 

  • Danvers, MA · Member since 2012 · 40 posts · 9 votes
    10y

    Congrats @J.Martin , thats awesome to hear and love to see goals achieved! Thanks for sharing. 

  • Downingtown, PA · Member since 2015 · 1k+ posts · 101 votes
    10y

    Thanks for the motivation !!!

  • Franklin, WI · Member since 2015 · 56 posts · 27 votes
    10y

    Wow, what a story! Thank you for sharing and congratulations on the success! 

  • Yucaipa, CA · Member since 2016 · 47 posts · 18 votes
    10y

     You are a great inspiration to those of us who are just getting our feet wet. Thank you for being gracious and kind to those who helped you.

    God bless your life!

    Thanks again! Tracey

  • Investor · King of Prussia, PA · Member since 2014 · 1k+ posts · 339 votes
    10y
    J. Martin congrats! I'll be following your footsteps very soon.
  • Mark SpidellPro Member
    Glenwood Springs, CO · Member since 2012 · 127 posts · 22 votes
    10y

    Awesome!  Welcome to the club of working based on your own terms.  There will still be tough days, but at least you are in control!

  • Real Estate Agent · Lowell, OR · Member since 2016 · 33 posts · 11 votes
    10y

    I just started reading about RE a few days ago and honestly I feel like I was really meant to be in this line of work all along.  I am currently a math teacher and even though I love my students...I am getting bored!  I am ready (or will be soon) for a challenge.  I hope to post on BP that I quit my job too and still be in my 30's.  By the way, rainbows, ukuleles, and flip flops (also known as slippers) are all in my neck of the woods...Hawaii!  So let me know if you want to come visit!  I live on the island of Oahu.

  • Rental Property Investor · Henderson, NV · Member since 2015 · 21 posts · 6 votes
    10y

    Congratulations!  One day I hope to follow a similar path, but for now I just gotta get that first deal done.  

  • Rental Property Investor · Troy, NY · Member since 2016 · 21 posts · 17 votes
    10y

    Wow inspiring, this is exactly what I want from life and why I've turned to BP for guidance. 

    Cheers!

  • La Jolla, CA · Member since 2016 · 27 posts · 9 votes
    10y

    Congratulations!

  • Redwood City, CA · Member since 2015 · 19 posts · 3 votes
    10y

    Congratulations @J. Martin.  From a newbie who is still looking for Deal #1, you inspire me to continue pursuing my goal of using real estate investing to reach financial independence.

  • Investor · Kent, WA · Member since 2014 · 55 posts · 16 votes
    10y

    @J. Martin  Awesome stuff, most people settle for a picture of places to travel hanging in their cubicle.  You are now the guy in that picture!  Way to pave the path.  Dreams and action seem to have got you where you are.

  • Investor · Atlanta, GA · Member since 2015 · 366 posts · 283 votes
    10y

    Congrats!!!  I said goodbye to cube life about a year ago and have loved every minute of the freedom.   All the best to you on your journey!

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