All Forum Posts by: Mila R.

Completed @Dave Meyer!  Thanks for sharing.  Does BP plan to produce any podcasts explaining the opportunities this type of market opens the door to?  We hear enough negative on the news, but I think most people on this site are looking for what kind of opportunities to be on the watch for in the coming months to assist us in growing our portfolio.  I know we are!  We would love to see a podcast explaining all the opportunities this situation might create!  We are long term investors in it for life!

@Suzanne Manar

You are absolutely correct in that wholesaling is NOT passive.  It is absolutely active, and requires a ton of work!  My husband and I spent at least 40 hours a week just building our marketing funnel to have consistent deals in the pipeline.  The whole reason we decided to wholesale was to build additional capital to buy more passive rentals.  Zach at rent to retirement coached us through how to build our wholesaling business.  He did this at no charge to us, but we did have to purchase some rentals from them initially to have him spend the time with us on how to set up the wholesaling business.  Which is totally fair!  We've been to some seminars where they wanted $50K to go through their program to learn how to wholesale.  It made more sense to us to simply apply our funds towards purchasing some rental properties with someone that was willing to mentor us.  That way we were building our own rental portfolio while learning new skills.  Our ultimate goal is not to wholesale longterm, however.  We are doing whatever we can to rapidly expand our rental portfolio to provide some level of financial independence, which is definitely more passive!  Wholesaling was just a way to build up more funds to purchase more long term rentals with.  Big thanks to @Zach Lemaster who has helped us tremendously in building a successful rental portfolio & wholesaling business.  We would have been lightyears behind on our own.  If you're considering working with them, we highly recommend it.  Wholesaling may not be for everyone, but again, it was just an avenue to have more cash to buy more rentals.  Like most people I imagine, cash was the most limiting factor for us.  Hope this helps Suzanne.  Best of luck with your investing endeavors, and let me know if I can assist in anyway.

@Carly Christiansen

That's great!  I think that is a great approach when you have a bunch of equity tied up in one property that is not being used is to exchange it for a bunch of cash flowing homes that will increase your passive income.  Then in a few years you can likely trade those same 3-5 properties up for even more properties with another exchange.  It's crazy to think about how much that can multiply over time, and you are actually not putting any more cash into those deals as you continue to grow over time.  Your portfolio just expands on itself, and it all started with the one initial exchange!  That is what makes real estate investing so exciting for us!  My husband and I plan to continue to do that same strategy again & again, and ultimately leave a legacy for our children to prosper from.  We will use our rentals for early retirement in the meantime.  I believe the capital gains are forgiven when we pass away, which would mean we would never have to pay taxes on them.  Keep us posted how things are going.

@Carly Christiansen

My husband and I have invested with them since 2017 and we are still investing with them now, so I would say they have held the test of time for us.  We did have to get rid of one tenant that lost his job and was unable to pay rent, but it actually turned out to be a pretty quick & painless process.  It was very slow in the beginning as we needed capital to purchase our first rental.  Zach and the rent to retirement team were able to assist us in completing some wholesaling deals to save up capital for our first rental.  Looking back we actually were able to purchase those first rentals with very little of our savings by wholesaling homes, then turning the profits directly into long term holds.  That was paramount in kickstarting our investing career!  Now we are looking at possibly doing a 1031 on that first property that has enough equity if we sell it to purchase two more rentals to increase our passive income!  It's so exciting when you see things come full circle with your investments to be able to really grow over time!  To answer your question though, yes we are still happy with the R2R team, and we plan to absolutely continue to invest with them!  Huge shout out and thanks to @Zach Lemaster as he has been an essential part of helping my husband and I build a strong rental portfolio from basically nothing.  I would consider him a mentor & a friend, and would recommend anyone to work with him that is interested in building a rental portfolio out of state with a team of people who genuinely care about your success!

@Carly Christiansen are you doing a 1031 exchange on the rental you are currently selling?

This is all great info I've been curious about in a while!

Thanks!

@Sammy Lyon

Also I am now going to read the book set for life as well.  thanks

@Sammy Lyon

This is very inspiring to read as I also work in education!  Thanks for sharing and make sure to keep us updated!

@Tierra Petersen I would highly recommend the Kaplan courses as I think they are among the best.  Make sure to look into state courses as well to ensure you are passing all state requirements.  Good luck!

@Brian Schroeder @Jesse B. Can I check in and see if you were able to find any good PM teams in Cheyenne?  We have a duplex we self manage, but might want to out source it at some point.

Thanks!

Does anyone know if there are standard % to put in for things like vacancy, maintenance? Just curious what everyone's thoughts are for a rental in a very good location. Being in a better class area, I really think a pretty low vacancy and maintenance will suffice. Thanks!