One Year Later - 10 units and full time investor

One Year Later - 10 units and full time investor

Jacksonville, FL · Member since 2016 · 76 posts · 130 votes

It was about this time last year that I discovered Bigger Pockets and found what I was looking for - a way to escape the boring, restrictive 9-5 life while doing something enjoyable and generating wealth. I caught the real estate investing bug and started listening to podcasts and reading articles for hours a day.

I kept hearing experienced investors say to jump in, so I did just that a few months later. By August, I had closed on a quad and was officially a real estate investor. Around that time, I partnered with a friend who was also interested in REI. By my 24th birthday at the beginning of this year, we collectively owned 10 units / 4 properties. We've done a house hack condo, a BRRRR triplex, and duplex and quad rentals.

This has given me the freedom to go into real estate investing full time while my business partner is sticking it out at his job to help us qualify for mortgages. This month, we've put a live-in flip and a BRRRR quad under contract, and we have another duplex in verbal negotiations that looks very promising.

It's easy to get frustrated when progress seems slow, but rewarding when I can look back at my first year in real estate and see we made it to double digit doors while earning enough to go into real estate investing full time. I can't thank BP enough for the advice and wealth of information. We are currently looking for connections in Jacksonville, FL, Greenville, SC, and southern Delaware to grow our business if anyone is interested. Thanks BP!

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Jerry W.Pro Member
Moderator
Investor · Thermopolis, WY · Member since 2012 · 4k+ posts · 4k+ votes
9y

Congratulations @Ethan Lee.  You have done very well.  I have been investing part time for almost 20 years and have not been able to leave the day job yet.

@Sam T., welcome to BP. BRRR is a buy, rehab, rent, refinance, repeat. it allows you to keep pulling money out to do rehabs over again. House hack means to live in a property while you rehab it. Often it is your primary residence to take advantage of the no capital gains from the sale of your primary residence for 2 of the last 5 years, but not always. you might start reading up in the education section above, it is loaded with tons of great information. Good luck.

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  • Jacksonville, FL · Member since 2016 · 76 posts · 130 votes
    9y
  • Jacksonville, FL · Member since 2016 · 76 posts · 130 votes
    9y

    @Angel Moreno way to make that jump and go pro! Feel free to shoot me a message and we can chat.

  • Jacksonville, FL · Member since 2016 · 76 posts · 130 votes
    9y

    @Lesley Resnick wow thank you! We have two properties in Delaware and two around Greenville, South Carolina. We have two more under contract in Delaware and Jacksonville, FL. So far we've used conventional, run-of-the-mill lenders (Wintrust and Meridian), a local bank, and private lenders.

  • Jacksonville, FL · Member since 2016 · 76 posts · 130 votes
    9y

    @Aundrea Newbern I have been in Jacksonville for a month now and have my first flip under contract and actively looking for buy and hold deals! I am learning about the market every day but feel free to shoot me a message and we can chat. There is everything from world class to downright dangerous in this city, and one area can have the almost whole range within a few streets. Makes it a little tricky but there's a lot of opportunity.

  • Jacksonville, FL · Member since 2016 · 76 posts · 130 votes
    9y

    @Derek Loda sounds like you're on your way as well! That refi sounds pretty awesome, good luck with finding another project to keep the ball rolling.

  • Jacksonville, FL · Member since 2016 · 76 posts · 130 votes
    9y

    Thanks @Jeffrey Wardlow! I will let you know

  • Jacksonville, FL · Member since 2016 · 76 posts · 130 votes
    9y

    @Rashauna Scott thank you! Congrats on your first investment property and going full time. It's a blast getting to do what I'm passionate about and making it happen, I'm sure you feel the same way.

  • Investor · San Francisco, CA · Member since 2017 · 22 posts · 6 votes
    9y

    Hello @Ethan Lee,

    Thanks for sharing your story and congratulations on your 1st year!

    I am looking for finding multi-family rental deals and Jacksonville is a definitely maybe area. My bf's brother lives there, so it gives us comforting thoughts of out-of-state investing.

  • Investor/Realtor · Hoover, AL · Member since 2010 · 1k+ posts · 459 votes
    9y

    Congrats, Ethan!!!

  • Joanne SantosPro Member
    Real Estate Agent · Yonkers, NY · Member since 2016 · 32 posts · 8 votes
    3y

    Thank you so much for sharing.

    You give me hope:)

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