All Forum Posts by: Ben McMahon

Hey guys, I have a couple of crews that work for me in both property management and house flipping.  Most of the time I GC the project myself.  So depending on what you are looking for, I can probably help you out.  Basement project would be pretty simple.  Shoot me a PM if you want to talk

Biggest regret was in 2010 when I knew that real estate was my future.  I bought my first investment property and EVERYONE I knew told me that I was an idiot.  I knew that I wasn't, but i only bought one.  

Second biggest was 2012 when I bought my second investment property and it was the last good year to buy.  I watched on the sidelines for the next year while the prices skyrocketed.  I should have left my job in 2012 instead of 2013.  

I actually am interested in properties in Puerto Rico.  I almost can't help myself.  I end up looking at real estate wherever I go.  PM me and we can talk.

Hey @Ron Biggs, I guess this post is about two years old.  I own a property management company, and am growing both south and east.  I'm currently in the Shenandoah Valley area.  Let me know if you still need a property manager.  

Before anybody asks, yes I brought my wife with me, and my mom watched the kids.

Hey All, I just got back from taking my team and their spouses to Puerto Rico for a week.  All because I quit my job and started investing in Real Estate.  This was my ultimate dream, and two weeks ago it was fufilled.  

I'm 33, I live in VA and left my day job 3 and 1/2 years ago to go full time in Real Estate. At the time I had 4 young children. Today I have 6 kids and a team of people working in my investment business. I mention the kids to illustrate that you can still be a parent and make this work. My wife stays home full time with the younger ones, while I bring home the bacon through the 4 pillars of my business. Property Management, Construction, RE Sales, and Investing (both flipping and buy and hold, lots of JVs)

Each part of the business feeds the rest, and we work almost strictly with Investors helping them achieve whatever goals they have set up for themselves.  

I bought a property in 2011, and than again in 2012 while working for a national construction and property maintenance company.  I saw the guys around me that were 30 years older and no better off than I was.  In fact most of them were working under me.  So in 2013 I quit my job, got an RE license, and started working with investors immediately.  Its been a huge learning process, but a few months ago, I actually hired my old boss from the previous company, and he ran things while I took a few select people from my organization and their wives on a trip to the Caribbean.  Pretty awesome!  Mostly because thats what I envisioned when I started the company.

Don't get me wrong, Im not Rich Dad yet, but Im on the way.  My kids see me more than they ever had while I was working for the man.  I coach soccer, take my kids to a private school, and my wife stays at home.  I have easily tripled my net worth in the last 3 years, and Im just getting started.  My systems are secure, and I am building the company around any market fluctuation.

I'm my own boss, and it ROCKS. ( I'm intentionally leaving out the all the extreme stress, mistakes, heartaches, and rock bottoms in this post. )  So if you want the reality check, I will post that in the Bigger Pockets Realty Check Stories section.  Coming soon! 

Peace BP, and keep it rolling

Refinancing is so much easier than the purchase. I've dealt with a lot of lenders and once you own the property it's pretty easy to borrow against it. The LLC is just a pass through for you, so they will primarily just be looking at your finances. Most banks also won't count the income for two years. So keep that in mind if your close on your debt to income ratios.

I like the question. I've been doing lots of JVs on both the contracting side and investment side. All of them have worked so far, but it's always with people I trust. Right now I'm the GC on two flips. My deal is structured to pay the investor a preferred rate, and than give me the gravy. However, I've done lots of 50/50 splits etc. the whole idea obviously is getting both parties fully invested in the project. I would also be interested in seeing what contracts are being used if I can be included on that?

Matt Wassum I transitioned to real estate investing full time in 2013. Let me know if you want to get coffee and chat. I have 6 kids under 10, so I know a lot about work/life balance.

@Drew Eldridge

Drew, that is fantastic.  I have actually been looking into that myself because I have a 9 year old that is totally interested in doing the same thing.  He sees me buying rentals, and he wants to be like daddy O.  He also has the investor mindset, and is looking to save his money for something other than Candy and Legos.

Its actually been part of my plan for the last few years to have my kids buy a house while still young.  It teaches them so many things about responsibility and money, not to mention giving them a huge leg up in the world.  Wish my dad had done something like that for me.  Would like to talk more about it.