180 units in 12 months!

180 units in 12 months!

Investor · Member since 2021 · 62 posts · 108 votes

My partner, @Account Closed and I have been on an incredible journey for the last 12 months! We started our real estate investing business about a year ago, with the goal of retiring from our W-2 jobs within 3 years. We set a goal that both scared and inspired us. We then had to figure out how to get started...

We live in Seattle, WA. After extensive research we liked the opportunities we were finding in Cleveland, OH. So we had a target market, but with everything happening in the world it seemed daunting to get started, and there were many excuses and limiting beliefs that almost got in the way...

With the ongoing pandemic, how could we get to our target market to meet people and make deals happen? 

Retire in 3 years?! We don't have that kind of cash on hand? 

How are we going to find these deals? 

We both have full time W-2 jobs, we do not have the time to pursue such a crazy goal.


Thankfully friends helped keep us accountable. When we listed these excuses, our friends said "Oh you must not want it that badly...." OK! That lit a fire for us to just get started! Here's what we did:

  • We decided to move to Cleveland for 6 months to allow us to really learn the market, meet people and make deals happen. We can both work remotely, so we really wanted to take advantage of this time to make our dream happen.
  • We started small, by acquiring several single family and small multi-family properties.
  • We set a stretch goal to own 50 units by the end of 2021.
  • We self managed everything at first, which meant nights and weekends hustling to fix toilets and turn units. We learned a lot of valuable lessons doing this, one being that this was not a good use of our time!
  • We knew if we wanted to scale to 50 units we needed to after bigger deals. And so we started networking and meeting as many people as we could in the space, learning whatever we could from them.
  • We listened to audiobooks and podcasts non-stop (still do!)
  • We worked on our mindset, identifying and crushing limiting beliefs
  • We joined a mastermind group! This has made all the difference for us. Being surrounded by like-minded people, doing the kinds of deals we wanted to do has been such an incredible learning experience. We have constant accountability with this team and our mentors and we are inspired every day by each other's successes. We knew that joining a mastermind was an investment in ourselves that would have a tremendous ROI.

Through all of this hard work, education, and networking, we are so thrilled to say that last month we became GPs in a 151 unit deal in Columbus, OH. We absolutely blew our 50 unit goal out of the water. We were given the opportunity to join this deal because of the relationships we built in the mastermind, our hard work, dedication and our ability to bring value to the partnership. We have learned that multifamily is truly a team sport and we are really grateful for the opportunity to partner on this deal.

We are also really excited that the connections we've made have led us to become GPs in a 32 unit deal in South Carolina which just closed last week!

This is just the beginning and it's truly incredible to stand here a year later and look at all that we have accomplished.

Cheers to all who helped us along the way! (looking at you @Yosef Lee!)

What's next for us? We are working with partners on several upcoming deals. We are always looking to connect with active and passive investors who are passionate about real estate and making financial independence a reality.

Let's Make It Happen!

Javier & Amanda

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Member since 2020 · 983 posts · 1k+ votes
4y
The entire post sound like advertising to seek investors. Real entrepreneurs don't set a goal to buy a few properties so they can retire. Real entrepreneurs love what they do and do it until they die. How can both of you have full-time jobs in Seattle and afford to move to Cleveland for 6 months. Overall, your post is not proof that your investing is successful. I went to Ohio a few months ago, looked at properties, crunched the numbers and I think it is a horrible state to invest in because rents are too low when comparing real estate prices and all costs to operate are going crazy. I would like to know how you can move for 6 months, close multiple deals and actually self-manage properties in another state when you have full-time jobs and when it often takes 60 to 90 days to the close of escrow to purchase many properties.
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  • Investor · Member since 2021 · 62 posts · 108 votes
    4y
    Originally posted by @Suresh Kannan:

    Quite an Impressive accomplishment, Thanks for Sharing @Account Closed!!

     Thanks Suresh!

  • Minneapolis, MN · Member since 2021 · 13 posts · 8 votes
    4y

    THANK You for sharing your story!  My husband and I have been talking about this for years.  We think this is the year to launch.  I'd love to be posting a similar story next year.  Right now we are getting our game plan together, talking about locations, watching the market in those areas, and trying to figure out how to put deals together.  Your post really inspired me and I also know that mindset is a big part of the equation.  I've been looking for sources of education like podcasts, and books.  Admittedly, I'm a little paralyzed by 2 things.  Conflicting strategy ideas and coming across people that think they are in the game that are really just selling "training programs."  I'd love to hear what you listen to, books you listen to, or people to follow so I can get more educated.

  • Member since 2020 · 983 posts · 1k+ votes
    4y

    I do admire Ms. Barker since if you search Amanda Barker on the internet she has put in years of hard work toward education and appears to be great with using social media.

    I may come across as being negative about many things, but for every person who is successful with any type of business e.g. real estate, stocks, construction, or retail there are thousands of people who fail big time because they get inspired to start a business, pumped up, think they can part the Red Sea, walk on water and they drown.

    I can tell you how I became filthy rich in one sentence and leave out the 10,000 facets you don't have a clue about and you don't even know what to ask about. Some people's brains have the ability to process information so they can see and predict a clear path that will reach their target and a high percent of people can't see the forest through the trees (if I made any sense). An investor can be great at finding a property, do the math correctly and find investors with tons of cash, but that investor (General Partner) can also be braindead when it comes to managing the properties, handling the rehab, dealing with tenants and rent increase and there goes a lifetime of some investors' savings.

    I am not negative about syndicating. I am super cautious when it comes to allowing someone else to have full control of my money. A syndicator doing a great job earning profits for his limited partners, today, may easily take on too many projects and his (or her) empire comes crashing down like a set of dominos and that is why "The Devil Is In The Details".

    Pay the $129 for Michael Blank's syndicating spreadsheet and he has some decent videos about syndicating. I believe he has many videos and maybe a course about syndicating from A to Z and maybe you can find some of them on youtube.

    Look for the podcast on BP by Cho. I met with him a few times when he was starting his first syndicated deal, was working on partnering with him and at the same time I was having serious Vertigo spells that sent me to the emergency room several times. So, I did not partner with him and about 1 year later he made a podcast on BP stating he had syndicated about 1,000 units. He is an Average Joe, but he also has that special ability to see and project a clear path to reach his target.

    If you are serious about syndicating, pay an attorney $300 to $500 for a consultation so you understand clearly the laws, how to set up your syndicate, what the Placement Memorandum is and how you want to structure your syndicate in regards to what percent you want to promise your limited partners. For myself, it is difficult to look for a property to syndicate if I don't know how much I want to promise my limited partners because then I can't put the correct numbers into all the properties I am assessing when looking for the property that will give the highest return.

  • Investor · Member since 2021 · 62 posts · 108 votes
    4y
    Originally posted by @Valerie Bashiri:

    THANK You for sharing your story!  My husband and I have been talking about this for years.  We think this is the year to launch.  I'd love to be posting a similar story next year.  Right now we are getting our game plan together, talking about locations, watching the market in those areas, and trying to figure out how to put deals together.  Your post really inspired me and I also know that mindset is a big part of the equation.  I've been looking for sources of education like podcasts, and books.  Admittedly, I'm a little paralyzed by 2 things.  Conflicting strategy ideas and coming across people that think they are in the game that are really just selling "training programs."  I'd love to hear what you listen to, books you listen to, or people to follow so I can get more educated.

    Hi Valerie! 

    Thank you! and you are absolutely correct, mindset is everything! There are so many great free resources out there - the BP podcast is an obvious one, Joe Fairless's Best Ever Podcast and Jake & Gino's podcast are a few of my favorites. I would also recommend books by all of these folks as well.

    Your concerns are totally valid, I think there are a lot of different ways to succeed in RE and I am wary of anyone who claims to have "the way." I believe you need to get crystal clear on your goals and why you are investing. For example, my partner and I are focused on cash flowing assets with the goal of retiring from our W2 jobs and living off of that income. So when we are analyzing deals and markets we are always thinking about that criteria. Others may want long term appreciation or a place to park their cash to hedge inflation. Some people want to build a portfolio of single family homes, others want apartment buildings.  Your goals and strategy are unique to you!

    One thing that really helped us get traction was finding a mentor. There are many out there and as you point out some are more legit than others. You do have to do your research and understand what you are getting before you join, but for us having a mentor and being surrounded by our mastermind of people who are all doing the things we want to be doing and sharing their knowledge is beyond powerful and really helped us move beyond analysis paralysis. 

    Hope that's helpfu!

    Amanda

  • Oklahoma City · Member since 2020 · 5 posts · 2 votes
    4y

    Wow, this is great. Definitely an inspiration. Congrats on everything you have accomplished! 

  • Investor · Member since 2021 · 62 posts · 108 votes
    4y
    Originally posted by @Jhonathan Wiley:

    Wow, this is great. Definitely an inspiration. Congrats on everything you have accomplished! 

     Cheers Jhonathan! Here's to 2022!

  • Member since 2020 · 983 posts · 1k+ votes
    4y

    If you want a mentor or want to join a master mind group check out Michael Blank's spreadsheet, his videos with his spreadsheet for syndicating and he charges $129, youtube videos and he recommends some good mentors and mastermind groups. These people won't 'beat around the bush' and you will get straight answers. I get about 1 or 2 emails from Michael Blank every day with videos and assume he upsells, or whatever, but I don't have time to pay attention to what he does or is offering and syndicating is not on the top of my list. 

  • Rental Property Investor · San Diego, CA · Member since 2014 · 1k+ posts · 2k+ votes
    4y

    Hi @Account Closed

    I too congratulate you!!  Your story is extremely motivating and I too achieved a similar achievement.  I am now in the harvest period, refinancing some and selling some too!!

    People come out and criticize every aspect of what we have accomplished.

    Whatever the mind can conceive and believe it will achieve!!! People out their can be like you and me and be financially free!!!

    Plus, if you think about it we have done this all through Covid too!!

    Swanny

  • Investor · Member since 2021 · 62 posts · 108 votes
    4y

    I don't see how anyone can say Ms. Barker's story is inspiring or motivating when her initial post has the straight-out appearance of an advertisement saying she purchase 180+ units. She has not provided one bit of proof. I spoke with just about every broker in Cleveland and when I tell them Ms. Barker purchased 180+ units their response has been; they don't know of any investors who purchased that number of units in the past two years.

    Before getting inspired, I would like to see some proof with some addresses and some numbers. Will you get inspired if I tell you I made about $40 million by investing in multi-units since 2001 if I show you only a bullet list indicating my accomplishments. You should not believe anything you hear and should not get inspired without seeing numbers or any type of proof. I don't believe she purchased 180+ units and nobody knows whether or not she did her math correctly, don't know her ability to manage the properties to earn a profit and don't know if she is in the green or red on the books.

    I made $40 million in just real estate since 2001 and if anyone wants proof then send a PM and I will give you a list of the properties I own, how much I profit every year from rental income and how much every property appreciated. Then, you will know whether or not I am full of bullsh...t and then you will have a good benchmark to work from. Never get impressed with the number of units an investor purchased because many investors and syndicates lose money and they don't pay their limited partners. 

    My real name is not Jack and I gave enough information in posts to know who I am when I gave my website address. I like to remain anonymous because I have many relative with the exact same name. In fact, I gave two of my sons the exact same name with the exception of their suffix. My suffix in Jr. , so I named one son with 'III' and I really screwed up my last son's name with Jr. II and this causes problems because most internet field boxes will not accept Jr. II.

    I write and pick on Ms. Barker for two reason; 1) If you are going to make such a claim then provide proof. and 2) investors who fall for her claims with no proof are taking huge risks when allowing someone like Ms. Barker be in control of investors' money.

    My last reason for what I am writing about this is because I think I am fighting the Omicron virus and one of my workers most-likely has it. He lives with us in our office building and I have two children and my wife living in the building. We both had headaches for the past few days, a sore throat, cough, slight chest pain (maybe lungs) and fever. Everyone in our circle had two COVID shots and my wife and I had our booster shots last week. The reason I mention this is because I am fairly positive that everyone in the world is going to get the Omicron virus and very real soon. I am getting seriously angry with my workers and people I know who refused to get even one COVID vaccine. Maybe, getting the Omicron virus is a good thing if it helps to build antibodies to protest against future mutations. My current condition is it is like most yearly sore throats with a cough, but the headaches come on strong, disappear and come back a few times every day.

    If you are going to claim you did successful real estate deals then provide some proof and back up your claims. Otherwise, you are just blowing hot air. I will always back up what I say. Sometimes, I get carried away and my claims are not accurate, but I will apologize and explain how I made my mistake 


    Those who say it can't be done should get out of the way of those who are doing it, Leonard Megliola. 

    Anyone who wants more information about my deals is welcome to politely PM me and I'm happy talk to them and point them to my website which has more information about our portfolio. I'm surprised you didn't find that when you were google stalking me. 

    So many people post their success stories on BP, Leonard. Our friend Swanny here just said he has achieved similar results to me. Instead of tearing him down, however, you offered to *partner* with him! I can't help but wonder if its the fact that I'm a successful woman that offends you so much?

    The fact that you can't find deals like mine is not my problem, Leonard. You are an internet troll hiding behind a fake identity and I feel pity for you that you're using all of your free time to keep coming back to this post trying to tear me down. 

    You've been rude to me from the start which I have ignored. I don't owe you anything, Leonard.

    My only intention in posting my original post is to inspire and network with others. That is the whole purpose of this BP forum. I was inspired by a post just like this when I first started. I have nothing to advertise - I'm only here to add value to fellow investors where I can. 

    In the new year I wish you health and peace.

    Amanda

  • Rental Property Investor · San Diego, CA · Member since 2014 · 1k+ posts · 2k+ votes
    4y

    Onward and upward all!!  Let’s do this in 2022!! 

    As Buzz Light year said, “To infinity and beyond.”  That is like infinite returns and beyond for us in RE!! 

    Swanny

  • Real Estate Agent · Cleveland, OH · Member since 2020 · 280 posts · 365 votes
    4y

    @Account Closed this is such a great story! I work with a lot of out of state investors but I love that you took the leap to move to Cleveland and become part of this amazing opportunity. Would love to connect sometime just to make your acquaintance and share some stories. Let me know if you'd be up for that. Congratulations on your success!

  • Investor · San Francisco Bay Area · Member since 2019 · 119 posts · 79 votes
    4y

    @Account Closed this is incredible. Congrats! I'm in the SF Bay Area. I bought 12 out of state rentals in my first 6 months. And after reading your post, I want to go even bigger.

    I have a parter based in the Seattle area, and we are looking for apartments in and around Cleveland as well. 

    Was there a specific zip code you chose? I wholesaled extensively in Cleveland so I'm interested to see where you centralized your rentals

  • Rental Property Investor · San Diego, CA · Member since 2014 · 1k+ posts · 2k+ votes
    4y

    @Austin Largusa

    We need to talk shop.  I have 9 apartment complexes out there too.

    Swanny

    BP Guest Podcast 238

  • Investor · Member since 2021 · 62 posts · 108 votes
    4y
    Originally posted by @Erin Dorsey Robinson:

    @Account Closed this is such a great story! I work with a lot of out of state investors but I love that you took the leap to move to Cleveland and become part of this amazing opportunity. Would love to connect sometime just to make your acquaintance and share some stories. Let me know if you'd be up for that. Congratulations on your success!

     Hi Erin! Definitely let's connect. I'll send you a PM

  • Investor · Member since 2021 · 62 posts · 108 votes
    4y
    Originally posted by @Austin Largusa:

    @Account Closed this is incredible. Congrats! I'm in the SF Bay Area. I bought 12 out of state rentals in my first 6 months. And after reading your post, I want to go even bigger.

    I have a parter based in the Seattle area, and we are looking for apartments in and around Cleveland as well. 

    Was there a specific zip code you chose? I wholesaled extensively in Cleveland so I'm interested to see where you centralized your rentals

    Hey Austin! That is awesome - so you're wholesaling long distance? I'd love to hear more about that! 

    Our rentals are all across Cleveland, Mt. Plesant, South Collinwood, Warrensville. Mostly C, C- areas. We looked at a lot of stuff in Lakewood and Edgewater but couldn't make the numbers work for what people were selling for. 

  • Rental Property Investor · San Diego, CA · Member since 2014 · 1k+ posts · 2k+ votes
    4y

    Hi @Account Closed

    I have 7 apartment complexes in Painesville, one in Mentor, and one in Akron.  We should talk too.  

    Have a great day!!

    Swanny

  • Investor · Member since 2021 · 62 posts · 108 votes
    4y
    Originally posted by @Michael Swan:

    Hi @Account Closed

    I have 7 apartment complexes in Painesville, one in Mentor, and one in Akron.  We should talk too.  

    Have a great day!!

    Swanny

    Let's do it - I'll send you a PM!

  • Investor · San Francisco Bay Area · Member since 2019 · 119 posts · 79 votes
    4y

    Hey Austin! That is awesome - so you're wholesaling long distance? I'd love to hear more about that! 

    Our rentals are all across Cleveland, Mt. Plesant, South Collinwood, Warrensville. Mostly C, C- areas. We looked at a lot of stuff in Lakewood and Edgewater but couldn't make the numbers work for what people were selling for. 

     Yes wholesaling virtually isn’t as scary as people think. It’s quite simple with all the technology 

    I’m afraid of C- in Cleveland as that can mean some really rough rehabs lol. I’m going to send you a message. We’re working on a 16 unit in between Lee Miles and Maple Heights 

  • Hadar OrkibiPro Member
    Rental Property Investor · USA / NZ · Member since 2016 · 1k+ posts · 812 votes
    4y

    @Account Closed and Javier, you are an awesome team!

    Your success is an excellent example of how to Make It Happen even if you are based in a Market that is tougher to invest in.

    We often see investors from the east or west coast struggling to find a deal in their local market because the price to rent ratio make sense, or the Landlord/Tenant laws are inadequate.

    You both grabbed the bull by the horns and looked further afield, into markets that make more sense.

    The key is to join a good team and work with solid boots on the ground.

    Keep up the good work!

  • Investor · Member since 2021 · 62 posts · 108 votes
    4y
    Quote from @Hadar Orkibi:

    @Account Closed and Javier, you are an awesome team!

    Your success is an excellent example of how to Make It Happen even if you are based in a Market that is tougher to invest in.

    We often see investors from the east or west coast struggling to find a deal in their local market because the price to rent ratio make sense, or the Landlord/Tenant laws are inadequate.

    You both grabbed the bull by the horns and looked further afield, into markets that make more sense.

    The key is to join a good team and work with solid boots on the ground.

    Keep up the good work!


     Thank you so much Hadar! We are very grateful to have you as a mentor and have learned so much from you!

  • New to Real Estate · Malvern, PA · Member since 2020 · 8 posts · 6 votes
    4y

    @Account Closed Thank you for sharing this story. I am just starting this journey and your story is more validation that with the work this is possible. Maybe I need to reevaluate and set my goals even higher. 

  • Investor · Member since 2021 · 62 posts · 108 votes
    4y
    Quote from @Ray Riley:

    @Account Closed Thank you for sharing this story. I am just starting this journey and your story is more validation that with the work this is possible. Maybe I need to reevaluate and set my goals even higher. 


     Awesome Ray! Anything is possible!

  • Real Estate Broker · Member since 2017 · 5 posts · 1 vote
    4y

    Hi Amanda, 

    Thanks for sharing your story.  It sounds like you've learned a lot in a short amount of time. I'm an investor in the Seattle area.  I'd love to know more about the mastermind group you joined if you're open to sharing information about the group.  Thanks.

  • Investor · Member since 2021 · 62 posts · 108 votes
    4y
    Quote from @Derek Bunyard:

    Hi Amanda, 

    Thanks for sharing your story.  It sounds like you've learned a lot in a short amount of time. I'm an investor in the Seattle area.  I'd love to know more about the mastermind group you joined if you're open to sharing information about the group.  Thanks.


     Hey Derek - absolutely. I'll PM you.

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