All Forum Posts by: Clifford Paul

Welcome to BP!

Welcome to BP! 

@John D.

Wow 5 to 10k is crushing it! I never thought I would see 3k per SFRs. My 5 are all crash pads soon to be 6. Closing on the 26 of July. 

The best part is the airline pays me directly. They also pay the cleaning company and laundry service. I pick up lawn care, maintenance and all utilities. My property management company does everything. I should add I get paid per room 60 a night wether some one occupies it or not. I have 12 and 24 month lease in place. I'm surprised more investors are not doing this. 

My best cash flow property from my other 4 SFRs is $1067 a month. So I really do feel like I'm crushing it. 

Try your local credit unions, is the best advice I can give. I'm getting 5% down with no PMI. They keep my loans in house, this is the only way I know to get these kind of loans because of loan guidelines. Good luck!

@Chris Seveney

You are absolutely right. Honestly when I started I didn't know how things would work out. But I did start with a plan to replace my W-2 income with real estate income. I never planned on retiring at 42 but no one can predict the future. I follow a lot of Financial independence blogs and it amazing me how some have done it with so little in savings. One thing most don't take into account is what if you have a health problem. My cancer treatment was 250k and that was almost 10 years ago. There really is no get rich quick plan out there.

@Dave G.

I agree with you about how the younger generation has no work ethic. I live in a very nice subdivision. Houses are mid 500's to 1.2 m. No teenager has ever asked to mow my yard. All my neighbors except 2 have lawn care companies doing their yards. My grandkids only want to mow my yard when they need money for a school trip but none of them want to do it full time. I don't get it if I lived in a neighborhood like this when I was a teenager I could have bought 3 houses when I turned 18. 

@ Jay Hinrichs

I have to say Jay you are one of my real estate heroes on BP. When you post I take notice. 

When I sold my properties I had no clue what was coming. Things really were not looking good for me and at the time. My wife just joined the military and she was afraid she wouldn't be able to keep up with the properties. In hindsight it was a great move taking my net worth to the next level. 

Looking forward to seeing your post.

@Rebecca Miller

Welcome to BP and thank you for your service.

Having invested for 35 years now my focus has changed over the years. I started as strictly a buy and hold investor. 

Then I house hacked and flipped houses to buy more rentals. Now I have a mix of hold and crash pads along with buying flops and selling them to local investor's. I only invest locally because I know my market well. My first portfolio was spread across the country but now am doing more with less in my own backyard.

@Brent Coombs

Thank you! 

Me a guru! LOL I'm just a guy that read one book when I was 17 and said I can do that. I worked very hard while my buddies we're drinking and partying the nights away I was at my second job. They are all still working and hoping to retire by 70. I spend my days rescuing dogs and horse's and playing with my 12 grandkids.

@Kalyanii Kennedy

Thank you! I hope my story can help others take the first step.

Actually the hard times were really tough. I lost my career and didn't know if I was going to survive. On top of that I had PTSD issues I hadn't delt with yet. I sold all my properties that I worked very hard to get. That in itself caused a lot of depression. But I did it so my wife would always be taken care of if I died. 

On a positive note we have never touched any of that money and the market has been extremely good to us. My story is really simple I just keep buying houses even when everyone around me said I was crazy. We now are doing more with less properties and I really can't believe home great real estate has been to me all these years. Keep the course, work hard and never give up!

I had a situation at one of my duplexes in the 90's. Guy got knock on door opened it and someone emptied a clip into the apartment. Fortunately no one was hit. 

He wanted out of his lease to move. I had no problem with letting him out. But I explained to him that the reality is if someone has intention to hurt you moving is not going to stop them. He ended up staying but if he really wanted out I would had let him. I've never have had a problem with vacancy.

Welcome to BP Mike.

I'm retired military and have been a real estate investor for 35 years. I bought rental houses at every location I was stationed at. Became a millionaire at 29. It's not hard because if I can do it anyone can. I suggest you study BP and learn as much as you can. If you care to read my success story the link is below.

https://www.biggerpockets.com/forums/223/topics/581603-crushing-it-with-3000-a-door