All Forum Posts by: Account Closed

@Bill Brandt This is the sort of response I hoped for when I posted the question. There are times and reasons to look back with regret and in this case the numbers it appears the numbers support that.

As the one person who has responded on the “Gee, I wish I did that.” side of things, I like how you quantified the result of the decision.

@Jeremy Pelle Thanks for clicking on my website! Seriously, man, lighten up.

@Amy Miller seems like the Ryder Cup competition would be the best comparison. Love the question.

@Elizabeth Pare This is exactly the type of question you *should* be asking. Unfortunately, in my opinion, there’s no answer you’d truly like. You’re getting solid advice here on how to vet and choose members of your team. Good luck.

@Elizabeth Pare The broker does not have your best interest in mind. The broker - by definition because they are human - will always think if themselves and their family first. You will always be behind those priorities.

Make sure YOU are comfortable. Make sure YOU have a process. Make sure YOU know what you need, want, etc.

Brokers serve an extremely valued purpose in this process. Don’t mistake their helpfulness and abilities for being on your side. Only you and your family are on your side.

I encourage you to think about this from that perspective.

Since doing a deal or walking away sometimes involves a gut versus head call and you wind up in shoulda, woulda, coulda land anyway .....

How often do you regret *walking away* from a deal? Or do you just make the decision and move on.

@Nina Granberry First, congrats on buying your first place. There are many people who never get that far! It sounds like you’re building a solid foundation, so I’d encourage you to think about how you see this playing out. Not just the spreadsheet version of a stack of townhomes, rather what allowed you to own that many doors?

So, in addition to the suggestion above re: networking and connecting with others, I'd start thinking about the non-REI skills that will be needed to augment your success. Since imitation is the highest form of flattery, I'd start with finding people in other industries that you admire. Do you know their stories? What habits they have that enable them to succeed?

@Joe Kooner When I say “refine goals”, I mean things like variety of industries in a market, employment drivers, city size, etc. You did a good job above of laying out financial factors, but you’re still searching too broadly in my opinion.

@Joe Kooner If you've been saving money for the past couple years for REI, what else have you learned in that time? Why did you choose multifamily over, well, everything else? I know that answering your question with a question isn't ideal, but people tend to save for a specific reason. As for specific action, I think you need to refine your goals. Only you know your risk tolerance, time constraints, money, etc. once you figure that out, it'll be easier to receive guidance here.

@Bjorn Ahlblad. Hi. Just wanted to say that I agree with Bjorn’s advice @Matthew Rembish. There are factors you can control and things you can’t. This paragraph is wonderful guidance to giving you a starting point when the unexpected happens. I didn’t want to just give it a vote and move on.