All Forum Posts by: Nick Papayiannakis

@ Kirk

Hey Kirk, thanks for the advice. I too was considering a meet-up, as well as an 'official' investors association. I suppose the meet-up would be less formal and easier for a new investor in the beginning.

Nick

Hi Alison,

I like your deciciveness, particularly how you managed to just "get it done" without mucking about. I too have entertained the idea for a while (ever since hearing about donald trump as a kid).

A partnership seems like a sound strategy for mitigating risk and increasing purchasing power. May I ask how you went about suggesting the partnership? I understand he is your brother, but how did you convince him that working together was a win-win situation vs say, investing his money in the stock market?

How do you go about financing four properties in a single year? I can only manage to scrape together enough for a down payment one every 2-3 years, granted I do not have a partner and granted I live in Canada where unfortunately prices are substantially higher than in the U.S.A.

Nick

Hello everyone!

I will start by expressing my respect and admiration for the vibrant community of investors helping one another for the mutual benefit of all here at BiggerPockets. I also wish thank all those who take time out of their schedules to contribute articles and answer questions for up and coming investors and seasoned veterans alike. I wish one day to be able to give a helping hand to the degree that you do.

To get down to business, I am having trouble deciding the order of certain steps to take in my action plan and I would like to hear your opinions on how to proceed. I have established the following plan for the short term (next 12 years):

1. Set goal (In 12 years I will own 35 units with a minimum CFAT of $100/unit/mo.)
2. Organize household budget
3. Educate myself
4. Attend investor's clubs
5. Establish a team
6. Create a business structure
7. Begin investing proper (market research, ads, cold calls, door to door, etc)
8. Purchase 1 fourplex every 2 years beginning in 2015 for the next 12 years to gain experience.

In short, I am unsure of how to proceed about steps 4-6. Should I attend clubs to learn but risk appearing foolish since I do not have a "investment business" to back me up? Should I set up a business structure, print some cards, and then network? Do I even require a business structure this early in the game or will a team consisting of an attorney and accountant suffice? Should I hold off exposing myself to others until I get 1 or 2 multi-families under my belt to build credibility first?

I will be leaving for europe in January for half the year and wish to know how to proceed in the interim. I understand that networking and relationships are very important in this business and do not wish to destroy my reputation before it even exists.

Thank you in advance and I look forward to your replies,

Nick