All Forum Posts by: Anton Watt

Howdy Howdy

Real Estate investing newbie from Dallas here. I hope to pay off all student loans and a car note by the end of 2017 and begin RE investing in 2018. I am a public markets investment analyst for a family office here in Dallas. I have my Financial Risk Manager (FRM), Chartered Alternative Investments Analyst (CAIA) designations and passed all three levels of the CFA Program on 6/7/2014 and may be awarded the charter upon completion of the required work experience. I'm a big ol' finance nerd with some entrepreneurial fire in my belly. I'm expecting my first property to be a house hack and then move on to buy-and-hold rental property investing. Excited to be apart of the community and look forward to sponging up all the knowledge I can before I hit the ground running in 2018!

Unless it's  an apartment complex landlord, a few SFHs income won't be enough to substitute the full time W2 - which is the case for most of us is.  Some fortunate LLs may be able to scale back to part time.  Others is still 9-5.

@Anton Watt I would say having the funds was big, as I did not have to go a non-traditional route to get it last year. But bigger than that was constantly looking for good deals, and finding some off market that I was able to buy for a great price. I think this year if I can find the same quality of deals, I would still be able to attract some other sources for funds to be able to buy them.

Just curious as to if anyone has ever quit their job to go into real estate investing full time, and doing so too soon.

I work 60+ hours week right now and make good money. I'm very knowledgable (at least I think) on the many different types of REI, although I'm not 100% positive on which route I want to ultimately take to begin my career as an investor.

My job is absolute Hell, for lack of a better word. I've had worse, but I just cannot stand giving up my entire life for a job, just so I can come home too tired to even function. Literally eat (sometimes skip that part even) and go straight to bed.

Yes, I know real estate investing is a huge task and that I may work even more than I do now when I'm starting.

I'm totally okay with that. Because you know what happens 5 years down the road if I stay where I'm at? I'm in the same exact spot, working the same exact job, doing the same exact ****.

If I were to take that 5 years and hustle towards myself and my own business, the possibilities are endless. The possibilities are DEFINITE if I stay at this 9-5.

I'm fairly sure I'm going to work for the next year. My job pays well, don't get me wrong. I should be able to save about $40,000 in the bank over the next year. But after that, I truly believe I'm going to put in my 2 weeks and go for this thing full force. I have a tax break right now which is why I make so much ($1,300 per week average), but I'll get taxed about $400+ a week after that runs out.

I'm 23. I have no financial ties. I know I'm still young, but this is a now or never decision for me. I'm on a lease for the next 8 months. After that's over, I'd like to house hack a duplex of some sort and become a licensed real estate agent. Live for free, have that $40k in the bank (with my finger on the trigger), and save up a good bit of my commission income.

I'd like to know people's opinions on this. I'm an extremely driven individual. I've loved real estate since I was a teen. I started working construction with my dad at 15. I'm a businessman at heart and have a raging entrepreneurial spirit. So, my passion isn't anything to worry with.

I also research this stuff heavily, borderline religiously. I'd like to do everything, really. I'd say I'd like to do about 80% BRRRR strategy, 10% wholesales (of rehabs I don't want to get into or can't work at the time), 5% rehabs, and 5% financing other people's deals in sort of a venture capitalist way. Those are just super hypothetical numbers, by the way. Just to give you a ballpark idea on my goals.

I also do know that it's a lot harder to invest without a W-2 job, but this is fine with me. I'm a true believer that if the deal is good enough, financing will come... Even if it's not easy.

But anyways, how do you guys feel about my decision? I'd like some opinions. Negative or positive, just be real.

After quadrupling my portfolio in 2016, I am a bit tight on cash. My biggest challenge in 2017 will be to obtain private financing and leverage what I currently own, especially when I have goals to purchase even larger buildings this year. 

Buy and hold deal that doesn't go pending in 24 hours. Granny flats that are not permitted. Finding deals with horrible foundation. Experienced investors sweeping up the good deals in nice neighborhoods. Housing purchase price trumps the market rent resulting in a huge negative cash flow. Ugh... So Cal.

@Anton Watt Do you have a proforma that you can post here so we can see more details.