All Forum Posts by: Jessie Nunley

@Jason Hirko thanks for the insight sir!

@Jason Hirko thanks for the reply sir! I like the idea of partnering and currently have a partner on our 1st property. My question is more about multiple partners to scale faster.

I have several friends/family members that have high paying jobs. Brother is in a doctorate program for physical therapy, Uncle is part owner of an architecture/CaD business, Cousin has high paying career at Tyson Food, my wife and I earn quite a bit between our civilian careers and air national guard pay, and my friend/co-worker/current business partner has a great salary being in the military.

My question is: should I ever attempt to bring on more people to scale faster and increase the overall cash flow faster?

I have several friends/family members that have high paying jobs. Brother is in a doctorate program for physical therapy, Uncle is part owner of an architecture/CaD business, Cousin has high paying career at Tyson Food, my wife and I earn quite a bit between our civilian careers and air national guard pay, and my friend/co-worker/current business partner has a great salary being in the military.

My question is: should I ever attempt to bring on more people to scale faster and increase the overall cash flow faster?

My wife and I will be changing careers in 60 days. We are leaving active duty military service to pursue other passions. I will be in nursing school for 16 months and we will be living off of the housing allowance my GI Bill gives me and her salary as a Vet Tech. Not all that bad considering it is only 16 months but her and I are also leaving jobs that pay us each around $3,600 per month. You can't put a price on happiness though and we are happy to put our investing goals on hold for what amounts to a small amount of time (16 months) for us to be happier in the end. 

@Chris Brown I can’t remember which podcast it was but it was a recent one where they talked about “creating” your own deal by cold calling and knocking on doors. From being on BP for the last several years it has been pretty easy to notice the trend of everyone wanting to do multi-family investing! The guy on the blog said most deals are gone so you’ll have to use one of the above (cold call, door knock) to find a deal. By no means am I trying to discourage you, I hope you make millions! But, in today’s market (depending on where you live) you will most likely be paying full price or even higher than appraisal to get into a multi-family home. Best of luck!!

 I'd much rather pay someone else to do the dirty work. People may earn a little extra $ every month by managing on their own but the headache is absolutely not worth it to me. 

@Tyler Labelle my step father and I have thought about this exact scenario extensively. He and I both know that we are not “hammers” and we have no problem with that. We will never manage our own properties because of this. It seems like you may not be a “hammer” either and trust me, there is nothing wrong with that. Just learn from this and move on!

I also have a very similar plan. I would like to get to the 10 SFH number and then combine that with the military retirement my wife and I will each get when we turn 60 (we are both guard members). We estimate that 10 paid off SFH and our military retirement will give us $15-20k passive every month. That may not seem like a high number to a lot of the folks on BP but we live extremely modest lives with literally $0 debt until we purchase our first rental property. Perhaps our goals will change down the road but I think it is smart to start small and think about investing in a rational way instead of worrying about the immediate cash flow. We are very big believers in the power of delayed gratification.

 I absolutely love this. Many people are ok with doing all of the work but what about people like my wife and I who want to invest in RE but also want to continue doing the careers we love? I am perfectly fine with $100 per door through a reputable TK provider such as Memphis Invest. I am not trying to get rich right now through cash-flow. My goal is to be able to retire early at say 50 or 55.