All Forum Posts by: Robert Kirkley

@Gino Barbaro Congrats and Happy New Year!  I am hoping to get into larger multifamily investments and reading this thread has me excited to start making relationships as well as keeping an open mind when looking for deals in any market.  Thank you!

@Levi Bennett Congrats!  Even though it seems there were some lessons learned, the deal itself sounds incredible for a short term wholesale.  I am very familiar with that area, so it is good to hear about deals like that.  

Congrats on the cash flowing properties!  I am hoping to start investing as soon as I am able to raise some capital.  It is interesting how many ways/styles there are to invest.  I like that you paid fully for the condos in order to avoid a mortgage.  Do you plan on doing your future deals like that as well?  And are you going to be looking at properties from wholesalers as your main source of leads?

Congrats on getting started and thank you for sharing the process you went through! I am local to Central Florida, but I have been to that area a couple of times, so it is neat to see a deal like this in a familiar area. Did you find this property through the MLS or another source?

Hey Lisa!

Welcome to BP!  I am new as well and it has been an invaluable resource for learning about real estate.  Reach out to as many people as you can and read over some of the blogs, they are full of great information.  And that's really cool that your family owned rental properties. Can't wait to see what you will accomplish. 

Congratulations!  What a great success story.  You took action and didn't give up.  This deal sounds great and it definitely gets me excited for my first deal in the future.  I hope to do the same strategy of investing you are doing, so update us on how everything goes!  Hopefully this will be the first of many for you in the future.

@Travis Henry

Hey Travis!  Thanks for responding!  I completely agree with the steps you brought up.  A phrase I like to think about is "The time will pass regardless.." because it reminds me that the goals that I set for myself that seem far in the future will come in time no mater what.  That pushes me to do something every day to help me reach my end goals so that I don't wind up saying "I wish I would have done that" or something to that effect. 

You also bring up an excellent point that discipline has more power than motivation.  Motivation can come and go, but if you don't continue to do the "dirty work" to reach your goals, then they will never happen.  That is why I wanted to bring this up so that hopefully someone will read this and set daily goals for themselves to see if they have the discipline to keep moving forward.  I know this is something I will work hard at.  So far my goals are to talk to 1-3 new people a day on BP, look for potential deals, read a chapter in a RE book, etc.  It doesn't take much time, but it can really improve your results if you keep it up!

Great response Travis, thank you for your thoughts! :)

Hey there everyone!

Since starting my education on investing, I have learned a lot and have spoken with many incredible people in this business, so thank you for being a great community!  Recently ,when I was listening to the BP podcast and their "Famous Four" questions, I had thought of a question I would like to ask you all.  Most of the guests answer Brandon's last question "What sets apart a successful investor from one who gives up?" by saying something pertaining to persistence.  The question I thought I would ask is:  What is an actionable step that you make everyday that you believe is imperative and key to being successful in investing?  If it's not everyday, then what is the action you do often that you would attribute to your success?  

I am interested to see the responses as I hope to learn from everyone and create a discussion for us!  Hope you all have a great day!

Hello everyone!  

I was reading lots of blogs on BP about landlording and rental properties being that I would like to invest in buy and hold properties eventually.  One of the blogs I read contained a hyperlink to this website (https://www.hud.gov/groups/landlords).  That hyperlink led me to many others... it turned out to be a long day of reading! I ended up printing out some documents from different pages of the website, including the Fair Market Rents for Florida (my state), the Housing Market Indicators Monthly Update, and the Housing Market Profiles.  The latter two of the printed documents contain a lot of economic information and charts on the local markets of the area I am trying to learn more about to invest in.  I had a few questions pertaining to these documents:

Are these a good resource to use for my local areas of interest or should I rely on another source of information?

What type of information should I be looking for within these documents? (specific number or charts?)

Does everyone read these or will the documents not give me the information that I need to learn more about buy and hold investing?

Are there any other documents that I should be downloading/printing from this website to use in identifying potential areas to invest in?

I want to thank you in advanced for answering some of these questions.  I will be reading these documents over more in depth soon, but I just wanted to know if I should be looking somewhere else or for more information from this website.  I am actually very happy now to have found the Fair Market Rent values of Florida because now I can at least have a loose idea of what the average rents are like in areas I am not as familiar with.  My goal starting out was to learn something new and talk with one person in the BP community every day and it has already led me farther than I thought it would, so thank you all!  I am looking forward to seeing what your opinions are, have a great rest of the day!

@Rotchil Noel I completely agree!  It will just take some time learning the processes as well as the market.  That's also a great habit, you will learn something everyday doing that.  I hope to see you on here often!  Good luck with everything! :)