All Forum Posts by: Alex Keedy

I’d take the $10k/month. Guaranteed 12% return that is passive and risk/stress free.

I could retire the next day, then use the free time to invest the proceeds in real estate and pursue other passions

With all the boasting of “I could beat that” and “I’d double $1MM to 2MM in a year. . .” If this were true and repeatable, I’m thinking these folks should be professional asset managers for the ultra wealthy.

.

Good post!

My favorites/most influential have been:

Mindset: the new psychology of success

Millionaire next door

Millionaire real estate investor

Rich dad poor dad

Bluefishing

7 habits of highly effective people

Hands off investor

Thinking in bets

Congrats on graduating!

I don't think there is a "correct" answer to your question, but personally, I would rent for at least a little while to make sure you like the job and plan to stay in the DC area for the foreseeable future. 

As an aside, see if you can continue to "live like a student" and fight the lifestyle creep temptation at least until you pay off your loans and have a healthy down payment saved up.  Good luck!

@Brian Garrett I know what you mean about the frustration of having money sitting in a savings account earning nothing. I hate lazy money!

What skills would you bring to the table as a GP? Unless it’s something pretty unique, I think it may be a waste of your time to try to find an established syndication to join because they presumably already have their internal team in place and roles defined.

If you do have substantial skills in the syndication arena, put together your own syndication. If your network doesn’t include folks wanting to be GPs in syndications, perhaps it makes sense to pay for a mentorship program, as it would connect you to a group of like-minded people.

Wishing you prosperity in 2021!

As a few others have mentioned, look into Qualified Opportunity Zone funds.

Also, you could look for passive real estate syndications that will do a cost seg/bonus depreciation, and use the big first year paper losses to shelter your profits. But I think this only works if you claim Real Estate Professional Status on your taxes.  Good luck!

@Ralph Chiaia nice work!

I’m also entering in the MF commercial world, but still in the education and team building phase. I don’t expect I’ll be making any offers for 9-12 months. It’s inspiring to hear the stories from those at the beginning of the journey. Thanks for sharing!

Alex

Agree with others: too many complexities and too many scenarios where it could go wrong.

And as @Dan Heuschele mentioned, I wouldn’t want to be in a place where I’m hoping someone dies so that I can benefit financially. That sounds like a pretty toxic mindset to be in. If you like this man as a human and want to help him out, explore seller financing options that could be a win-win situation. Good luck and I hope things work out well!

@Dudley Antoine

Such an awesome thread bump; love it!

I’m curious what order of steps you took, re: debt and saving for investment. Personally, I wouldn’t even consider investing if I had any consumer debt, but I’m probably overly conservative on that front.

I am gearing up to buy my first rental property in the next 6-12 months, and trying to learn as much as I can about the process (BRRRR of small multifamily properties seems very interesting to me). I'm sure the best way to learn something is to actually do it, so I'm thinking that participating in some renovation projects in my own home and the homes of families would potentially be a valuable learning experience without the time pressure of needing to get a tenant into a rental property as fast as possible. My wife has been wanting to do some projects on our house for awhile now, anyway.

The specific projects that I have in mind are:

-My father-in-law in replacing his kitchen counters and cabinets.

-Re-doing my house's concrete driveway with pavers or stamped concrete.

-Replacing a sliding patio door with a French door.

I will be working with contractors to get these done (not DIYing it). Any advice for things that I should pay attention to or focus on to practice home renovations before I step into the real world?  Weird question, I know. Thanks!

@Jim K. Great post! Could I ask you to clarify something? From your post, it sounds like BRRRR and buy-and-hold are mutually exclusive; is that true?

I'm totally new to this, but my understanding is that the purpose of BRRRR is that you don't tie up all your money in a property. Let's say someone buys a property with hard money, renovates, rents it out, refinances at the new higher value and pays back the hard money, then holds it to build equity, and finally repeats that process on another property. Would that be called something other than BRRRR?

TIA

Ale