All Forum Posts by: Allen Thomas

Congrats! That's a nice one!

. You will have to go REALLY big to accomplish a goal like that, so you definitely need to target large apartment bldgs with value add potential. If you buy small multis it'll take decades to hit those numbers. Especially when you consider the hit you'll take whenever there is a big maintenance issue or vacancy. 

Congrats! Keep it up! 

Congrats! If you would have gone into the deal with a bit more wiggle room, you could have taken cash out in order to repeat. But it seems like you're on the right path! Keep learning from your experiences and you'll do great! 

I'm not in a position where I can afford to invest without adding significant value. If you are, that's great. Buying turnkey saves a lot of time and energy. Personally though, I have to increase the value of my properties significantly in order to acquire funds for the next deal. 

Hmm I have never been. Maybe I'll drop by. 

1. There should definitely be Realtors in your market who are investors. Seek them out. They will have firsthand experience with the issues that you deal with in your deals. 

2. What my wife and I have begun doing is stockpiling certain materials that we use in our flips if we can get them for steep discounts. We buy things from warehouses, craiglist ads, and Home Depot's clearance rack, even if we don't have a current project going on. That saves us thousands on materials. 

3. The goal setting thing is huge. Make sure you always have multiple exit strategies. The market can change, tenants can leave, you could move, etc, but you should always have a plan B. And don't settle. 

Well done! It definitely gets easier after the first one. Continue to identify ways to improve your weaknesses and you'll be super successful. You're already off to an awesome start! 

Congrats! My first two (especially the first) came with a ton of learning experiences. What were your takeaways??? 

This sounds like a great deal! Definitely the type of thing I am currently looking for. Super congrats man!