All Forum Posts by: Luke Miller

@Sam Dal one of the primary uses for an eQRP is to funnel excess pre-tax income into a retirement account. This can be done as someone who is self-employed and then deployed to investments. That's one of the main advantages that I have seen, but that would mostly be for high-income folks.  

@Nicholas LaGatta it's possible to run that type of fund part time. It is going to be difficult, but possible. However, I would caution you on jumping in with investor capital and not having a solid track record or someone on the team with one. I would be hesitant to trust money with someone who is doing this for the first time with no one on the team to support them. I call them "grey beards", but basically someone who has been there and done it. 

@Matt Higgins there's little safety in being an entrepreneur. If having a safety net is critical, you shouldn't quit your job. My safety net is working harder than everyone else. If I do fail and have to go back and get a 9-5 job, it won't be because I didn't try hard enough. 

Hey @Shawn Afshar i'd take a couple months and listen to a ton of BP podcasts and get a bit more clarity on what you want to do. It's going to help a lot more than asking random people on the forums. You'll need something tailored to you and your life. 

Quitting the security of a 9-5 job isn't easy. I remember being so excited when I left, but then reality sets in and you realize you have no cushion anymore. No income, no fallback, etc... One of the biggest things I struggled with (and still do sometimes) is time management. There's no "boss" telling you what to do and what projects to work on. That's all on you now.

My real estate business is anything but "passive", but I wouldn't have it any other way. I really enjoy what i'm doing now even though i'm working almost double the amount of hours I was at my job. The best part of real estate investing for me, is that it's something I truly love. Looking back, I probably would have figured out a way to stay a little longer, but there's no easy answer there. 

I've told @Joshua Dorkin this a couple of times, but I owe a lot of my freedom and annual income to Bigger Pockets. When I found it in 2012, it was like a PHD in how to be free and create the life you want. Fast forward to 2020 and i've flipped homes, lended money, bought and sold rental properties, passively invested in apartments and now have syndicated a bunch more. Bigger Pockets sparked my love for real estate!

@Tj Cremeans it's important to note that the spreadsheets aren't gospel. You should probably understand the metrics and calculations behind them. I try and not treat any spreadsheet I use for underwriting like a calculator. Instead more of a tool that I need to double check sometimes.

That being said, there's no better spreadsheet right now than Think Multifamily's. It has several sections that other ones are lacking (or were when I saw them). 

@Mindy Jensen don't forget about us in South Denver!

 https://www.biggerpockets.com/forums/521/topics/791751-dtc-gathering-of-badass-real-estate-investors

@Kellan Martz what are your goals? Are you just trying to get some passive income or replace your jobs? Are you trying to build an empire or just place some money? 

The answers to this will probably dictate what direction you go. If you're just looking for some passive income and you all want to keep working in your careers, passively investing in a syndication would probably be your best bet. If you're trying to replace your jobs and get into active investing, you might look into some smaller multifamily properties and try and grow organically. 

Hope this helps. 

@Tim Manke what are your goals? Do you want to start small or go big right away? In my mind, they are two different groups. Jake and Gino are more focused on teaching students how to buy smaller properties. I think they teach that the smallest you should go is 30 units or so? 

Think Multifamily focuses more on syndicating large buildings 100 units and up. They have a "family" syndication method that teaches you can go much bigger while not taking the entire burden on yourself. 

Another question to ask is what's the track record of those involved. How long have they been syndicating? how many transactions have they done? will I get one-on-one coaching with them or be given a tiered coach? Feel free to DM me and I can give you my thoughts on each group.