0-25 units in four months and it all started with Bigger Pockets!

0-25 units in four months and it all started with Bigger Pockets!

Rental Property Investor · Papillion, NE · Member since 2017 · 398 posts · 1k+ votes

Its amazing that the morning of January 1st I knew nothing about real estate investing. Now after purchasing six deals with a seventh under contract I realize I have just scratched the surface and have much more to learn.

After reading Rich Dad Poor Dad on Jan 1st (and three days before my 32nd birthday) I had a realization… I needed to get my a** in gear, take calculated risks, and begin pursuing the lifestyle I have always dreamed of.

I started my real estate endeavor by reading numerous books including “Millionaire Real Estate Investor”, “The One Thing”, “Multi-Family Millions”, by David Lindahl, “Toddlers Are A**holes” (more on that later), all of Ken McElroy’s books and many more. I couldn’t get enough real estate insight by reading alone so I started consuming Bigger Pockets podcasts on my drives to work.

At the same time I took the advice of the books/podcasts I was reading and reached out to everyone smarter and more successful than me. That lead me to…. My wife’s, cousins, boyfriends, friends, friend….seriously! (I will include an ancestry chart in the appendix). This individual is now my mentor, business partner, and good friend.

First deal: 100% attributed to Bigger Pockets. Colton Luchsinger (great real estate agent!) reached out to me on BP and after some conversations he sent me a deal. Not having a clue what to do I reached out to my soon to be partner for his opinion (wifes, cousin, brothers, friend, etc.). On my own accord I would have said no to the property, being too fearful of the lackluster financials, he on the other hand saw an opportunity and he was correct. The property appraised at 20% over sales price and rents have been increased substantially after purchase.

Today I just closed on my 24th and 25th unit less than four months after my first deal.

I am so grateful and happy to be in the position I am in. The days since January 1st have taught me more about business and myself than nearly a lifetime of learning.

I hope to continue to connect with amazing individuals on BP and learn from others everyday!

(Below is a pic of 24 and 25.)

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Roshan K.Pro Member
Oklahoma City, OK · Member since 2017 · 258 posts · 215 votes
9y

Congrats on your success!!

Can you talk about how you made financing happen? Most people can't afford downpayment on their first door, let alone 25 doors in 4 months!!

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  • Cambridge, MA · Member since 2017 · 268 posts · 247 votes
    9y

    Nice work in just 4 months!

  • Investor · Omaha, NE · Member since 2016 · 9 posts · 4 votes
    9y
    @ Collin Schwartz Good to know! Thanks for all the info. I'm out of the country until mid November but plan to use listsource for prospect lists and am looking for an online print shop to create the mailer. Ideally, a place that can take my list and push everything out without me touching it. Ideas? Might be nice to meet this Fall once I'm back if you are up for it. Networking is always a plus! TJ
  • Rental Property Investor · Papillion, NE · Member since 2017 · 398 posts · 1k+ votes
    9y

    @Todd J. I used listsource for my leada as well. For the actual letter I personally created it and handwrite numerous items in the letter. My last mailings close rate was 2% and response was 9%. When I used yellow letters I had a 1% response rate and zero closes with more letters veing sent. Yes reach out to me when you are in town.

  • Investor · Omaha, NE · Member since 2016 · 9 posts · 4 votes
    9y

    Thanks for the info and sounds good!

  • Rental Property Investor · Mesa, AZ · Member since 2015 · 143 posts · 187 votes
    9y

    @Collin Schwartz, I really appreciate that you shared you experience! I have 4 units now and would like to get to about 30 in the next 5 years using a heloc and marketing directly to owners of small MF properties. Do you mind if I ask you a few questions through private message?

  • Rental Property Investor · Papillion, NE · Member since 2017 · 398 posts · 1k+ votes
    9y

    @Nolan M. thank you. Yes please pm me some questions!

  • Valley Village, CA · Member since 2017 · 34 posts · 13 votes
    8y
    Hey Collin, Are you still increasing your holdings? I am wondering how you manage to get so many mortgages??? i have heard traditionally you can only get 4-10 with traditional lenders. I hope things are going well since your first posted this.
  • Rental Property Investor · Papillion, NE · Member since 2017 · 398 posts · 1k+ votes
    8y
    Burke Ericson I use commercial lending for all my properties. The only limit is what the bank will lend on. As of today I have 56 units and am looking to continue to grow. Feel free to reach out directly if you have any questions! Thanks.
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