Today - at age 24 - I "retired". Here's how I did it.

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Today - at age 24 - I "retired". Here's how I did it.

Filipe Pereira
Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes

Hey all! Just sharing my story with the hope that it will light a fire under some of you, or keep the one you've already got burning hot. Here we go: 

It all started with a small loan of a million dollars from my dad....okay, okay only kidding!!

Last year I purchased a 4 plex with good amount of money down (20-25%) in East Hartford Connecticut. PP was 200K, and rents were at $3605 a month. I sat on the property for a few months, felt out the tenants and have since then asked a few tenants to leave, or increased their rent as a way to encourage them to find new housing. In the last 11 months or so, I have rehabbed two apartments (10-12K of material, labor done by yours truly) and am now sitting at gross rents just shy of $4,110. Recap - I got a 4 plex, put in 10-12K of rehab to get out an extra 6K per year. I like that ROI!


Most recently I purchased a SFR in Windsor Locks, CT. I'll admit, I'm a huge car buff, and I wanted the place for the generously sized 4 car garage....well, once we got to the inspection period, I didn't think the numbers would work, so I started to back out. The listing agent made magic happen though, and got the sellers to drop the price 60K! I figured that the house needed 30-40K worth of work. This property quickly became a home run deal.

Even though I'm a car guy and wanted that garage badly, I knew I had to mortgage the rest of the house with it...but, what 24 year old in their right mind needs a 4 bedroom house for himself? So guess who got himself a couple of house mates?? This guy! The mortgage and then some is covered, and now I am sitting on two properties, both with what I would consider good equity. One I will likely never sell, the other is more of a live-in-for-free-while-making-a-profit-flip. 

At this point, the money I make as a landlord is getting dangerously close to the money I was taking home from my W2 job as an entry level architect in training in downtown Hartford. I've decided to put that career on hold to develop a property management company here in north central CT. There is no way I could "retire" and sit on my butt for the next 60 years! Plus, I want to buy more cash producing assets, and be my own boss....that takes money! ;)

Here's to financial freedom, my friends!! 

Filipe

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Audrey Ezeh
Real Estate Investor · Las Cruces, NM · Member since 2016 · 186 posts · 173 votes
9y


Origi?nally posted by @Filipe Pereira:

Hey all! Just sharing my story with the hope that it will light a fire under some of you, or keep the one you've already got burning hot. Here we go: 

It all started with a small loan of a million dollars from my dad....okay, okay only kidding!!

Last year I purchased a 4 plex with good amount of money down (20-25%) in East Hartford Connecticut. PP was 200K, and rents were at $3605 a month. I sat on the property for a few months, felt out the tenants and have since then asked a few tenants to leave, or increased their rent as a way to encourage them to find new housing. In the last 11 months or so, I have rehabbed two apartments (10-12K of material, labor done by yours truly) and am now sitting at gross rents just shy of $4,110. Recap - I got a 4 plex, put in 10-12K of rehab to get out an extra 6K per year. I like that ROI!


Most recently I purchased a SFR in Windsor Locks, CT. I'll admit, I'm a huge car buff, and I wanted the place for the generously sized 4 car garage....well, once we got to the inspection period, I didn't think the numbers would work, so I started to back out. The listing agent made magic happen though, and got the sellers to drop the price 60K! I figured that the house needed 30-40K worth of work. This property quickly became a home run deal.

Even though I'm a car guy and wanted that garage badly, I knew I had to mortgage the rest of the house with it...but, what 24 year old in their right mind needs a 4 bedroom house for himself? So guess who got himself a couple of house mates?? This guy! The mortgage and then some is covered, and now I am sitting on two properties, both with what I would consider good equity. One I will likely never sell, the other is more of a live-in-for-free-while-making-a-profit-flip. 

At this point, the money I make as a landlord is getting dangerously close to the money I was taking home from my W2 job as an entry level architect in training in downtown Hartford. I've decided to put that career on hold to develop a property management company here in north central CT. There is no way I could "retire" and sit on my butt for the next 60 years! Plus, I want to buy more cash producing assets, and be my own boss....that takes money! ;)

Here's to financial freedom, my friends!! 

Filipe

 Congratulations on these deals! You are taking action and doing amazing and that's very inspiring. Keep in mind however that the sweet bank loans with low interest rates are much easier to come by when you have a W2 income and maybe you are not entirely dependent on the cash flow to live on. So maybe hang on to your job for a little while longer while you grow your portfolio or have a strong private lending network :)

Congrats again!!

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  • Filipe Pereira
    OP
    Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
    9y
    Originally posted by @MIchael Rickerd:

    Filipe, Congratulations on your decision to retire at the ripe age of 24. I am definitely in the 'happiness' camp as well, and can see the value in you leaving the 9-5.

    I have a question that I personally think is the difference maker. How did you come up with the initial cash? How did you go from nothing after school, and then nothing after your first acquisition, to having tons of cash on hand, to the level that you no longer budget for things on a monthly basis, so quickly?

    This is what is interesting to me. Because that's the tricky part in my opinion. I am never surprised when someone with 100-200k in cash ups and buys a handful of houses or apartments. That's common sense and easy to me.

    Also, I am more in the Joe camp personally. Am I one of the few who is unimpressed with someone who can make 3k a month in cashflow? That is not really life altering money when it comes to the big picture. If that limited amount of money was enough to retire, I could have 'retired' the day I married my wife (business owner). To me, while my earned income has been replaced with cashflow, my ability to extend myself into new ventures is seriously limited if I try to grow my businesses and live off of that cashflow at the same time. Hence why I am in the 'keep that steady W2 career for as long as you can".

    I do not personally know your position, or the work environment you elected to leave behind, so my opinions/thoughts could be completely off base. I'd love to hear your response.

    At my age (28 years old) I am in the camp that I have not earned the privilege of retiring just yet. I still have more work to do. 

    Sure, Mike. 
    I worked all through high school and college and graduated with a solid chunk of change that allowed me to purchase my first 4 unit. I am not sure where you read that I finished school with no cash, but if you can lead me to that post, I will happily go about getting it fixed! After closing on the 4plex I started piling up money in the emergency fund for the things Joe previously mentioned. That money came in from my W2 as well as my rental income.

    The way I look at it, you can build up 20K over 10 years through monthly dribbles and drabs, or you can dump 20K into a money market account one time and be done with it. 

    The money for the downpayment on prop #2 came from my w2 income, my rental income and the beginnings of my property management income ( I've already taken on a couple of properties, before jumping ship from my W2). 

    I want to reiterate, once again, that I am not currently sitting on a beach in Miami, Florida... I just got home from a home inspection for a client in Manchester CT. So while I am retiring from my desk job, I am not literally doing nothing for the rest of my life - hence the quotes in the title. My decisions and investment choices HAVE afforded me the ability to work on MY schedule, not my bosses' and I think that's what folks should take away from this. 

    Financial freedom is being able to do what you want, when you want, and how much of it you want to do...some days I might work 12 hours, some days I might work none. Either way, it's my call. That is what I am excited about, more than anything. 

    I plan on making a lot more than 36K this coming year, that you can bank on!

    0Reply
  • Mario Da cruz
    Ludlow, MA · Member since 2017 · 3 posts · 0 votes
    9y

    sfr? 

    0Reply
  • Filipe Pereira
    OP
    Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
    9y
    Originally posted by @Mario Da cruz:

    sfr? 

    Mario, SFR = Single Family Residence.

    Es Portugues? 

    0Reply
  • Gerry C.
    Maple Valley, WA · Member since 2017 · 14 posts · 2 votes
    9y

    That's pretty awesome. Good decision making Congrats. Need to learn your technique.

    1Reply
  • Joanna Pias
    New Britain, CT · Member since 2017 · 4 posts · 2 votes
    9y
    Congrats. I'm new to bigger pockets and I find it ironic to read this post. I am also from the Hartford CT area and have similar aspirations as your accomplishments. I'm running into investors taking the properties before I get to them or being outbid on hud homes. How did you do it, how long did it take you to find the property and how much did you put down? All advice would be great. Joanna
    1Reply
  • Neil Patel
    Hilliard, OH · Member since 2017 · 2 posts · 1 vote
    9y
    Dear @Filipe Pereira, Congratulations & Thank you for being the inspiration. Good luck with reaching your goal by 30.
    1Reply
  • Mario Da cruz
    Ludlow, MA · Member since 2017 · 3 posts · 0 votes
    9y

    Thanks for the clarification. And yes I am. I Love your story.

    I'm actually looking to get involved with real estate involving multi-family residences. Any advice for a rookie. 

    0Reply
  • Filipe Pereira
    OP
    Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
    9y
    Originally posted by @Mario Da cruz:

    Thanks for the clarification. And yes I am. I Love your story.

    I'm actually looking to get involved with real estate involving multi-family residences. Any advice for a rookie. 

     Thanks!

    Yes, take action. Go find a realtor you think you will like - go see houses - lots of them that you think will cash flow. Use the BP calculator. Network. Read a lot of posts here. Listen to the podcasts!

    Um abraco,
    Filipe

    0Reply
  • Mario Da cruz
    Ludlow, MA · Member since 2017 · 3 posts · 0 votes
    9y

    Obrigado

    0Reply
  • Paul R.
    San Pablo, CA · Member since 2014 · 8 posts · 1 vote
    9y

    Congrats ! you're my idol! 

    1Reply
  • Raphael Cuthbertson
    Charlotte, NC · Member since 2015 · 65 posts · 15 votes
    9y
    Originally posted by @Filipe Pereira:

    Thank you guys! Now I am looking forward to helping other investors purchase property and help them become financially free as well!

    I will take you up on that! There are many MANY growing neighborhoods here in Charlotte, NC with plenty of SFR's ready for the picking. Interested?

    1Reply
  • Yader Gomez
    Phoenix, AZ · Member since 2017 · 37 posts · 7 votes
    9y
    This is the inspiration I come here for. Congrats and hope that portfolio only keeps growing! I have some cash saved up and I'm itching for that first buy but suffering from analysis paralysis. Did you buy your 4plex while still renting? For over a month now I've been looking for a MFH to house hack with in Orlando but this market just doesn't have something I can afford in an area I like. So my options are buy a MFH in which I can afford the 20% and keep renting for my own residence (which I like the place I'm renting from, great landlords) or buy my own SFH and then save up again but for a rental. The latter seems harder since the former produces income. Any input is so greatly appreciated and hope to have my elusive first property under my belt soon.
    1Reply
  • Lucas Mills
    Physical Therapist Assistant · Springfield, MO · Member since 2017 · 131 posts · 28 votes
    9y

    Congrats, and great work.

    A few questions:

    1. How did you find the apartments and the 4-plex?

    2. What do your variable expenses look like on the 4-plex and the apartments (e.g., vacancy, repairs, cap ex, property management).

    3. What kind of rehab did the 4-plex and the apartments require?

    4. You said that you did all of the rehab work yourself... What experience do you have in construction or rehab, if any? Or is this "easy stuff" we're talking about like paint and the like? I'm trying to ascertain at which point I should consider seeking help from a subcontractor, as I have absolutely zero rehab experience.

    5. Exactly how much of your own capital was required to purchase the 4-plex and the two apartments including downpayment, closing costs, rehab budget, etc.? Did you have all of this capital already put back in the bank? How long did it take you to save up the necessary capital for these acquisitions?

    6. How much actual cash flow do you have at this point? I.e., how much cash is left over at the end of the month after ALL expenses (including variable) have been accounted for? While you have 4k of gross rental income, a large chunk of that is obviously going to mortgage payments, insurance, property taxes, and then of course all variable expenses. So what are you actually allotting for yourself in terms of livable income?

    7. How much cash reserves did you have during your acquisitions?

    I want to also liberate myself from the 8-5 and follow a similar path. But, I have a few obstacles as I perceive them. For one, I don't have a ton of capital. I have about 30k of my own money saved up right now. I don't want to blow it all on one or two properties and then not have any cash to continue the process with while I continue to work another 1.5 years or so to save that amount up again. To that end, the BRRRR strategy seems most advantageous, to me, so that I could keep re-using the same chunk of money over and over. Furthermore, finding a private investor also sounds like a great option, in order to scale property acquisition more quickly.

    For two, my town isn't good for cash flow (apparently you're doing well if you get $200 after mortgage payment, taxes, and insurance -- this has been told to me by more than one local investor).

    Three, I have zero experience with rehab or subcontractors. This seems to be made even more harrowing by the thought of investing out-of-town.

    So while I have a fairly specific goal and set of criteria, I'm still trying to figure out exactly how to get there. Those are my obstacles right now.

    0Reply
  • Aaron Mikottis
    Architect · Joliet, IL · Member since 2015 · 207 posts · 119 votes
    9y

    Congratulations dude. I'm a licensed architect, just got my stamp this February, so I can confirm that the salary we get isn't much to shake a stick at. Looking forward to joining you in a few years!

    1Reply
  • Arriston Worthy
    Yatesville, GA · Member since 2017 · 17 posts · 6 votes
    9y
    Originally posted by @Mateusz Prawdzik:

    @Filipe Pereira I know how you feel. I started just 10 months ago and I have never stopped since, but then again, the market has been going up like crazy so we are riding the wave for now. Being 19 when I started with 0 experience in REI and only a little bit of capital to start, I didn't have much of anyone to trust me. Now being 20, with 8 flips collectively done with my partner and 5 whole sale deals in 10 months... everyone is turning to me for advice and motivation. That is one reason why I came back to BP and started marketing and social media branding, in order to help motivate others and educate them at the same time.

    I know exactly how you feel, my ego is too high to have someone telling me what to do. I am humble but I also am very assertive in ways that don't allow me to be bossed around. Being your own boss and working 20 hour days, but growing something that is yours is way more rewarding then just getting some ******** $200 check at the end of the week. If you want to be successful in life, you can't settle and get comfortable, you have to jump in feet first and just go for it. FULL THROTTLE. At my age, I was in a better position than anyone I knew in the sense that I was able to take so much risk that I didn't even know I could take.  But it all paid off at the end. 

    Well, enough preaching... Please if you have any questions about REI, please connect with me and reach out. I am a builder/developer so my main expertise lies in that side of REI but I am also very knowledgeable in other aspects of REI, so don't be afraid to ask. Additionally, check out my profile, read thru my forum posts, I am sure you will find great deal of information on there that I tell others since you are just starting.

    Don't stop at 2 properties. In the REI world, that is absolutely nothing. Go for more.

    Welcome aboard. 

     I absolutely love this response. I'm  from Georgia and looking at this forum give me hope to take the plunge in the next few months. I have been researching for 4-5 months and I want to make the momentum this forum speaks about. 

    1Reply
  • Phyllis E.
    Dunkirk, MD · Member since 2014 · 55 posts · 12 votes
    9y

    @Filipe Pereira--Congratulations! I am a former architect myself, so I just had to say "hi" and thanks for sharing.  Yup-- I know all about the wonderful salaries beginning architects and architectural interns make, and the long hours (deadlines, last minute changes and dedication to great design- no matter how little you end up making, ha, ha! I just can't understand why you want to quit, LOL!) I have been thinking about doing something similar to what you have done (buying a 4-plex and also house hacking) to help fund our retirement, so this is very encouraging. (When your background is architecture, it is very useful for anything involving understanding building and construction, (and real-estate) related, isn't it--but not much else, ha, ha!) Best wishes in your new career!

    2Reply
  • Melissa Rivera
    Bridgeport, CT · Member since 2017 · 28 posts · 5 votes
    9y
    Wow that's amazing!!! That's definitely keeping the fire lit for me! What kind of loan did you use to purchase the 4plex? I live in Bridgeport, CT I'm just starting off as a newbie! This is so exciting!
    1Reply
  • Filipe Pereira
    OP
    Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
    9y
    Originally posted by @Joanna Pias:

    Congrats.
    I'm new to bigger pockets and I find it ironic to read this post. I am also from the Hartford CT area and have similar aspirations as your accomplishments. I'm running into investors taking the properties before I get to them or being outbid on hud homes. How did you do it, how long did it take you to find the property and how much did you put down?

    All advice would be great.

    Joanna

    Let's connect Joanna. I am also a realtor in CT and MA and can probably help you out. Most of the units that I manage are within a 20 minute drive of downtown Hartford, so I am very familiar with the MFR market in this area. Feel free to reach out to me via direct message or an email (in my profile) any time!

    To read how more info on how I got my first deal, read this post---> 
    https://www.biggerpockets.com/forums/223/topics/361792-first-purchase-completed-non-mls-buyer-mostly-negotiated

    0Reply
  • Filipe Pereira
    OP
    Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
    9y
    Originally posted by @Yader Gomez:
    This is the inspiration I come here for. Congrats and hope that portfolio only keeps growing!

    I have some cash saved up and I'm itching for that first buy but suffering from analysis paralysis. Did you buy your 4plex while still renting? For over a month now I've been looking for a MFH to house hack with in Orlando but this market just doesn't have something I can afford in an area I like.

    So my options are buy a MFH in which I can afford the 20% and keep renting for my own residence (which I like the place I'm renting from, great landlords) or buy my own SFH and then save up again but for a rental. The latter seems harder since the former produces income.

    Any input is so greatly appreciated and hope to have my elusive first property under my belt soon.

    I had just finished my Master's degree when I purchased the 4 Plex. So I was actually still crashing at home - I put in the offer a month or two after graduating. 

    If I were in a super hot, expensive market, I'd try to get a big 4 plex that would allow me to get FHA financing. I would take advantage of the low down payment, and high depreciation (pricier asset) to help offset any other income I might have. Then, after a year or whatever seasoning period necessary, I would look into moving into another house hack situation, if possible. *I'm not a mortgage broker or attorney, so definitely read into the laws of FHA loans and moving into another OO MFR.

    Happy investing!

    1Reply
  • Filipe Pereira
    OP
    Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
    9y
    Originally posted by @Lucas Mills:

    Congrats, and great work.

    A few questions:

    1. How did you find the apartments and the 4-plex?

    2. What do your variable expenses look like on the 4-plex and the apartments (e.g., vacancy, repairs, cap ex, property management).

    3. What kind of rehab did the 4-plex and the apartments require?

    4. You said that you did all of the rehab work yourself... What experience do you have in construction or rehab, if any? Or is this "easy stuff" we're talking about like paint and the like? I'm trying to ascertain at which point I should consider seeking help from a subcontractor, as I have absolutely zero rehab experience.

    5. Exactly how much of your own capital was required to purchase the 4-plex and the two apartments including downpayment, closing costs, rehab budget, etc.? Did you have all of this capital already put back in the bank? How long did it take you to save up the necessary capital for these acquisitions?

    6. How much actual cash flow do you have at this point? I.e., how much cash is left over at the end of the month after ALL expenses (including variable) have been accounted for? While you have 4k of gross rental income, a large chunk of that is obviously going to mortgage payments, insurance, property taxes, and then of course all variable expenses. So what are you actually allotting for yourself in terms of livable income?

    7. How much cash reserves did you have during your acquisitions?

    I want to also liberate myself from the 8-5 and follow a similar path. But, I have a few obstacles as I perceive them. For one, I don't have a ton of capital. I have about 30k of my own money saved up right now. I don't want to blow it all on one or two properties and then not have any cash to continue the process with while I continue to work another 1.5 years or so to save that amount up again. To that end, the BRRRR strategy seems most advantageous, to me, so that I could keep re-using the same chunk of money over and over. Furthermore, finding a private investor also sounds like a great option, in order to scale property acquisition more quickly.

    For two, my town isn't good for cash flow (apparently you're doing well if you get $200 after mortgage payment, taxes, and insurance -- this has been told to me by more than one local investor).

    Three, I have zero experience with rehab or subcontractors. This seems to be made even more harrowing by the thought of investing out-of-town.

    So while I have a fairly specific goal and set of criteria, I'm still trying to figure out exactly how to get there. Those are my obstacles right now.

    Thanks Lucas. I am going to try to answer this with as much transparency as possible, while still retaining whatever privacy I can, haha. 

    1- Read this post.

    2- See screenshot

    3- Optional rehabs, really. All were fully occupied when I took ownership. I wanted to increase the gross rents and remove some tenants I wasn't fond of. One unit had a tenant that was there for 13 years. The place was roach infested. It was gross. I haven't finished processing the photos, but when I do, I will make a post about it all...for now, I've attached some photos below. This apartment was previously rented at $750 cold flat when I took ownership. I just re-rented it last month for 1175 with gas included. 

    Before:


    After (Sorry, still processing the final shot):

    4- I come from an architecture background, so I have a conceptual understanding. My father is a painter, and all around very skilled man. He took me under his wing and taught me many many many things in the process. I will be forever indebted to him, without a doubt in my mind. 

    5- To acquire the 4plex took about 50-55K. I paid my agent's commission since the seller didn't want to (5K). He was worth every penny to me...Yes, I had all this capital ready to go when I graduate from college. I've been actively saving money since about 13, and often worked 20-30 hours per week during high school and college. I don't remember the last summer "vacation" I had. So long as I was old enough to work, you better believe I did. It has played out well for me. The repairs were about 10-12K, all this year. I've saved up that money over the months as tenants have paid rent, and from my W2 income. I don't have any other apartments, just a SFR that I am house hacking.

    6- I have a few thousand that I net each month between my properties and other income streams. The key is to have as many income streams as possible...if one falters, you have others to fall back on. 

    7-Liquid cash reserves during acquisitions - 5-10K maybe? Much closer than I would have preferred, however, when you see a deal, you pucker up and try your hardest to make it happen. I also don't believe in fully leveraging an asset, so I always try to put down as much as I can, so that typically leaves me what I call "house rich and cash poor" by the time the transaction is complete.... In terms of Illiquid reserves I'd say 30-40K roughly. 

    In terms of your obstacles, if you lay all of them out in front of you, they can look plentiful and quite massive. I recommend picking one, crushing it, and moving to your next one. If it's money, get on a written budget and save save save! Here's some inspiration :) https://www.youtube.com/watch?v=yvHYWD29ZNY

    1Reply
  • Mateusz Prawdzik
    Developer · Little Ferry, NJ · Member since 2016 · 426 posts · 226 votes
    9y

    @Arriston Worthy Hey man, connect with me if you have any questions. I am always glad to motivate and help others out as much as I can, I want to make sure that my circle of people grow as fast as I did because the faster and more efficiently you grow, the same goes for my and my company. That goes for anyone, my main expertise is surrounded around flipping and developing but if you have any questions, don't be afraid to reach out. I am always here. 

    1Reply
  • Filipe Pereira
    OP
    Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
    9y
    Originally posted by @Phyllis E.:

    @Filipe Pereira--Congratulations! I am a former architect myself, so I just had to say "hi" and thanks for sharing.  Yup-- I know all about the wonderful salaries beginning architects and architectural interns make, and the long hours (deadlines, last minute changes and dedication to great design- no matter how little you end up making, ha, ha! I just can't understand why you want to quit, LOL!) I have been thinking about doing something similar to what you have done (buying a 4-plex and also house hacking) to help fund our retirement, so this is very encouraging. (When your background is architecture, it is very useful for anything involving understanding building and construction, (and real-estate) related, isn't it--but not much else, ha, ha!) Best wishes in your new career!

    So much truth in such a short post Phyllis...loved my job, would love it even more if I got to do it on my own time, as my own boss...I will probably be back at some later point in my life, but would like to focus on residential additions and what not, if life permits me to!

    In real estate, I bring my clients a unique ability to show what a property can become or to interject in their fascinations as to why or why not the idea of "tearing down all the first floor walls" might not be entirely feasible, haha!

    Thank you so much for your kind words :)

    0Reply
  • Filipe Pereira
    OP
    Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
    9y
    Originally posted by @Melissa Rivera:

    Wow that's amazing!!! That's definitely keeping the fire lit for me! What kind of loan did you use to purchase the 4plex?
    I live in Bridgeport, CT I'm just starting off as a newbie! This is so exciting!

    Hi Melissa, the 4plex was a conventional loan...no frills, but it got me a good rate and no PMI which I was happy with. Connect with @Craig Bellot. He is down in Bport as well and seems to be doing just fine :)

    1Reply
  • Jessie Niu
    Columbus, OH · Member since 2015 · 210 posts · 80 votes
    9y

    Awesome job at such a young age! Congrats! 

    But I would not quit my W2 with a gross rent of $50,000 to live on my profit. I would let those profit grow and it would help achieve your goal faster. 

    1Reply
  • Ryan V.
    Charlotte, NC · Member since 2017 · 29 posts · 11 votes
    9y

    As an electrical engineer working in the MEP construction industry I know the pains of deadlines and last minute owner changes. Congrats on your success. I am in the very early stages of my RE experience and trying to take in as much information I can before making my first investment purchase. Thanks for sharing your journey!

    @Raphael Cuthbertson - I am located in Mooresville, NC just north of Charlotte and would love to have a quick chat to pick your brain. I am very new to this am just trying to learn about the local market here. I feel SFR would be a good place to start.

    EDIT: How do I @ someone so they get an alert?

    1Reply
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