All Forum Posts by: Chris Jackson

@Natalia D Orosco - stepping out of your comfort is important. That's where fortitude develops. 

I am introvert by nature as well. Took me a long time to figure out my inner extrovert. But its my introversion acceptance that has made all the difference. 

Meet people and dont expect to be johnny hand-shake day one. Find your own way and make it your own.

When is the next meet up in November?

@Chris Coleman  - I agree

The comfort zone is a nice place to be but nothing grows there. What doesn't grow there is fortitude. Fortitude grows in the fertile ground outside the comfort zone. Fortitude allows you to understand what you are made of. You wont know that until you are in that strange place where you must learn to depend on yourself and ultimately believe in yourself.

Most introverts actually do have an extrovert self. My introversion became a great strength to create very deep, real, authentic relationships very quickly.  

I do not go after quantity but quality. This has served me well. Double down on your strength.

@Derek Gold - I am a lifetime introvert that was able to successfully find his inner extrovert. I always knew it was there. I took steps to go to every REIA meeting. I was patient with myself. I didn't expect to go to meetings and be johnny handshake bro. I spoke to people, I messed up conversations. I messed up meetings. I kept going. Over time I realized all the mess ups where part of what I needed to build confidence. Confidence is a word alot of dudes try to sweep under the rug because we are all supposed to have confidence. I struggled with it for many years until I tapped into what it took to actually develop confidence and extroversion.

It was only after I realized I needed to tap into patience and the combo of persistence did things start to click. 

My journey is so similar to many, took longer than most. Thats not what most want to hear but I never gave up when there were many signs that would have been clear that maybe this path was not for me.

I refused to give into those pulls. Over time I continued to develop my craft and realized that my introversion was in fact a gift.I use it as a secret weapon. I watch. I listen. I wait. I become bold at the right moments that create very deep, solid, authentic relationships with people. 

That has made all the difference.

Continue your journey. 

@Tammy Thompson - stepping out of the comfort zone is extremely important. 

Living in the comfort zone is nice but nothing grows there. What doesn't grow there is fortitude. In the fertile ground outside of the comfort zone is where fortitude grows its roots. It where you learn what you are made of and what you thought you couldn't handle you now can. Its the place where you begin to not listen to the maxims and start understanding what believing in yourself really means.

Good luck and I applaud you. Continue this journey to find the strength to become what you believe deep down you can become.

I agree with @Mitch Messer . Networking is the way, even though it will feel difficult at first. 

@Dawn Burdette - start by looking inward and ask yourself what are your strengths and weaknesses. Which areas do you want to spend the time to improve. Are you looking to be truly passive, active or pactive?

Do you want to be more hands on and manage rehab to rent such as a buy and hold model for SFR?

Do you like to analyze deals and are more drawn to the complexity of larger multifamily?

24k per year cash flow from a 100K investment is a 24% CoCR, cash on cash return. Although this is possible it will be very challenging to find. One may be seduced by some rougher areas where on paper that looks like it can be achieved however many times one finds themselves in a situation where the term "looks good on paper" becomes more of a big disappointment.

24% annualized is achievable also albeit getting more difficult in this market but 24% annualized usually means where there is limited cash flow distributions during the hold but the sale yields a high pop at the end annualizing out to 24% over the say 2-5 year hold.  That is different than what most people are looking for with CoCR, cash on cash return, thus cash flow. 

To be able to put your head on the pillow at night from a true cash flow perspective I would set your expectations on 5-8% CoCR for nicer C+ to a A- assets.   Where one can receive 5-8% cash on cash return during the hold yearly but than on sale with any appreciation could achieve a 10-20+ % annualized return.

I know 5-8% is not the same as 24% cash on cash from a real money per month perspective but I see alot of people chasing the amount per month meaning the 2k per month that can make a difference in one's life vs the reality of achieving that return and in the end get into a situation where the return is not achievable because it looked good on paper for an investment but now the principal is at risk. Capital preservation is critical at this time in the market cycle. I'd look for nicer assets with lower return in areas that have good population and job growth story with a bit of hustle on finding a discount off retail with reason and chip away at your goal. 

@Grant Rothenburger - We have 12 year fixed debt at 4.93 and at 75% LTV. This is a buy and hold, with potential for Fannie Mae supplemental as a quasi refi (a supplemental allows for a fannie second mtg on itself as long new DSCR holds up with the stacked debt)

@Account Closed - thanks!

@Alina Trigub - I have worked with 2 of the partners on deals for over 4 years. The additional group is an equity group that has certain voting rights on some key decisions. As they should given they provided substantial equity. We have found they have brought great operational value as well throughout the process. We value their partnership. 

@Darlington Agu - ATL = Jobs and Populations growth. Property = good basis, great upside on the spacious townhouse style with under market rents

@Grant Rothenburger - over 100 unit renovations (kitchen, flooring, bathroom updating), roofs, tree removal, landscaping, water direction with new flumes, redo main water service from galvanized to PVC, cameras, lighting