All Forum Posts by: Austin Fruechting

Here's the biggest take-aways for new investors/would be investors from this thread...

Being successful in real estate and building it to achieve your goals is going to take work. Most likely a lot of work, especially in the beginning. And it can be stressful. 

It may not be the right path for you <- not just the original poster, but any new person learning. 

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Yes I believe you can be much more successful with much higher returns in real estate than in the stock market... IF you are willing to put in the work.  

I'm about to 1031 a 6-unit building of mine into a 24-unit portfolio. After this I'll be at 156 units, with my ownership being 103 of them (7.25 years from the start). My net worth is LIGHT YEARS ahead of where I would be if I invested in the stock market, and it provides a lot of annual income. 

At the beginning I was still learning everything, figuring out systems, and doing a lot of work myself. As time went on it becomes less work, at least it did for me. Now I have a team that takes care of it all for me and I just do big picture stuff and a little bookkeeping. Maintaining what I have takes ~1hour a week... and that's my only job. 

I'm happy to trade a LOT of long days and the energy/stress of building my real estate portfolio as opposed to the stress and time of working until I'm 65... My extra 3+ decades of freedom more than make up for the time I put in!

All that to say, I believe in real estate investing whole heartedly. HOWEVER, it takes work. New investors need to go in eyes wide open and be prepared for that. 

Originally posted by @Jay Hinrichs:

What do you all think..  Too risky   crazy  ?  or would you go for it as well. ?  curious about feedback.

For me, absolutely too risky... but only because I don't have near the same level knowledge you do even just in general, but especially in that realm! 

Sounds like it's going to be an awesome deal. Congrats Jay! 

Originally posted by @Ronald Poulard:

Getting up off my a** now!

Is that the car you crashed in? Glad you're still around to tell the tale brotha!

It is. Even the tow truck driver asked to take photos because he couldn't believe I just opened the door and walked out away fine. 

Rules are meant to be broken... 

No blanket rule applies to all real estate investing/areas/strategies... except maybe to not lose money. 

@Jim Workman - I've used JRK Flooring LLC on a couple projects. First on a rental, and then when I bought my personal house.

Originally posted by @Jeff Small:

I know a lot of people will tell you to refinance and buy more, but I'm 65 years old with a paid for properties. Are usually make about 60 or $70,000 a year on these units. I am retired from my former business and this allows me to live very well without touching my investments. I will do this for many many years. Good luck whatever you decide

 That's not a bad spot to be. If Adam prefers paid off investments in retirement, maybe a hybrid would work. Refinance now, but only leverage to the point where the existing and new investments could all be paid for when he hits 55. 

@Account Closed - That's awesome! Way to keep persistent. I will definitely consider making a full post about that on my blog at some point. I have a growing list of things to write!

I never said there was anything wrong with being a janitor. That was clearly a reference to hiding talents and not using gifts that were given by God (Jesus' parable about talents, in the New Testament). I'll also mention Romans 10:14-15 for another New Testament reference in regards to the need for people to send missionaries, which would involve the need for people with money to support those efforts. I was actually trying to have a conversation and asking legitimate questions since you think it's wrong for anyone to make a lot of money.

Really? So people like RG LeTrouneau and Rich Mullins aren't Christians and following Jesus' teachings because they made piles of cash and should have just been a janitors? It's not how much you make. It's what you do with it and your attitude about it. They used their talents given by God to make as much as they could to have as big of an impact as they could. Seriously read the book Mover of Men and Mountains.

That's not what I'm addressing at all. I'm addressing your theology.