All Forum Posts by: Aaron Mikottis

@Bill P. - That's a great idea, thanks for the suggestion!

@JD Martin @Mark Nolan @Account Closed

Thanks to everyone who provided input for me. I appreciate you all taking the time to share your opinions. I think I'll stick to introducing myself with my legal name but utilize my nickname later in my professional relationships as a way to build rapport. 

Thanks again!

Hey guys I wanted to run an idea by you all really quickly!

I've gone by the nickname 'Pongo' for many years now in both my professional and personal life. It's part of my online identity on social networks like facebook, instagram, etc. In addition to this, my coworkers (in a professional office setting) call me Pongo to avoid confusing me in conversation with our coworker Erin. I like this name because it is both fun and identifiable. 

My question is this: would it be memorable to introduce myself to professionals in the Real Estate world as Pongo, or unprofessional and confusing? I realize that Aaron is not the most common name ever, so perhaps it's a fruitless exercise...but I'm viewing this as an opportunity to create a "Pongo the Real Estate Investor" identity. It's a hat that I can put on and take off, as well as a means to stick out in people's minds.

BP - what do you think?

I haven't run into this exact phenomenon yet (probably because I'm still on the road to buying my first property) but I'm obsessed with the idea of financial independence and most of the people I talk to simply don't get it. 

Like you said, it's a different mindset. I think it's similar to talking to people about religion - everyone has an opinion but most people don't have any idea what they're talking about. Don't listen to these unknowledgable naysayers. (but listen carefully to those who have experience!) When people tell me that early retirement can't be done or that it's a foolish venture, I just ask them what their retirement strategy is. They usually become very quiet very quickly.

I imagine that this strategy would work for real estate investing. Just ask what their experience is in real estate. You aren't interested in the stories of woe that their uncle or distant cousin relayed at a family reunion that one time, you want to know about their expertise. Either they have no experience and stop talking, or you learn something new. Either way is a win.

Happy investing.

Thanks for the reply! Being a total noob I'm still exploring my financing options - like you said it doesn't look great. Even though I'm living off of 25% of my income, by DTI still looks really bad at 43% before overtime pay + bonuses.

I appreciate the nudge in other investing directions. Anything to pay off my loans faster is welcome. Hard work doesn't scare me and failure has a tendency to harden my resolve. 

In the meantime I'm going to continue to devour as much information as I can. I'm currently reading "The Millionaire Real Estate Investor", as well as listening to the rentalrookie podcasts and bigger pockets. (obviously) 

Thanks again.

Hey guys! 

I'm a recent graduate from the Chicago area with a bachelor's degree in architecture. I'm not sold on the idea of trading my time for money until the day I die, so I'm pursuing buy and hold rentals as a means of achieving financial independence. Right now the plan is to accumulate enough passive income from rentals to live life on my own terms - I imagine that this means 25-30 properties. This feels like a ways off, but what is life without goals?

Due to some decisions I didn't fully understand at the time, I'm bleeding out from student loans, around 80k. Most of these have an interest rate greater than 8% which is obviously quite frustrating. Right now I save ~75% of my income and throw it at my loans, so if I stay the course I should be free from these shackles by 2018. 

Any advice for someone in my position? Am I just stuck until I pay off my student loans, or are there wise ways to get cash flow started in the meantime?