What was your evolution as a real estate investor?

Question

Since I became an agent I've helped a number of people become financially independent (like myself), and seeing all the different ways it happened it got me wondering about how other people on BP are making it happen. No wrong answers here, whether you're just starting out, or about to sell it all to go live in Bali, I'm interested in all your stories.

Mike Terry · Answer

Jacob,

This awesome Congratulations on your achheivement.  I am pursuing financial freedom later in life, just having turned 52.  My strategy has been to flip homes, use the proceeds to buy rental properties that cash flow at least $200 a door. My wife got her real estate lisence and saving us commission and getting us access to MLS.  We so far have flipped 7 properties with profits rangeing from 10k to 40k.  Now I am in a fast appreciating market right now (Southwest Florida) so finding cashflowing properties here is very tough, so I am buying in southern Georgia in a University town with a State University,  I have two duplexes there currently cash flowing $300$ a door with another one under contract and two BRRRR deal single family properties also under contract.  So far the plan has been very smooth.  The goal is to replace my wifes W2 income as a teacher allowing her to retire in the next 3 years and me to follow in next 5.  So far so good,

John Thedford · Answer

I had a couple rentals over 40 years ago. I fell out of love with the idea. Fast forward to 2012 and I was doing HML. One loan I did was ridiculous and would never do again, but it ended up with me purchasing the property. So, being a landlord was NOT planned. Before we closed, the seller did something super stupid and LISTED the house for sale. Long story short: agent got a contract, I informed agent his listing agreement and contract were invalid, and was offer about 15K to walk away. I declined. That assignment fee made me go WOW. Then I found another house, put it under contract, and told my neighbor about it. He offered me 10K for the contract. I was hooked. So now I am up to 3M+ in real estate, still do HML, and am in the process of opening my new brokerage in Naples called Wealth Realty And Property Management, Inc. I have the URL, the corp registered with the state, and my license app for the real estate corporation in progress. Time to GET TO WORK!

Antonio Cucciniello · Answer

Hey @Jacob Pereira! Long time no talk. I just moved to Austin last month actually!

For me I have 3 rentals. I realized that the most difficult part of investing is getting that first one. So I am working with beginners to help them get that first one, by breaking down the process and making its simpler/less intimidating for them!

What was your evolution as a real estate investor?

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