Hello BP!
My name is Nick Sinur, and my wife and I are soon-to-be real estate investors after the upcoming close on our first fourplex property in Lakewood, Ohio.
I have had a passion for real estate since my teen years - most likely the result of being influenced by the real estate boom in the early 2000's, and of course the so, so many house flipping infomercials. Seeing the opportunity in this industry really appealed to me, but I was still very young, and focused on the typical advice of going to college, getting a good job, etc. After watching the crash in 2008, and graduating from college in 2010, I was focused on getting a corporate job just like many others in my class.
I was lucky enough to catch on with a fortune 500 company, and I have been in corporate life the last 9 years. I have learned so much in my career and have had great opportunities to travel and work on exciting projects. However, it always seemed I was at someone else's mercy, making someone else rich. And because of that nagging feeling, I was caught by the real estate bug again. About a year ago, a random Google search brought up a book by Brandon Turner (The Book on Investing in Real Estate with no, and low, Money Down), which then lead to Rich Dad, Poor Dad by Robert Kiyosaki. After reading those two books, I had to get into real estate. It seemed like a no-brainer. Since then, I've done more reading, met other investors, analyzed many properties in my area, and probably most importantly, convinced my wife go all-in on what is now our real estate dream. Now we are ready to close on our first multifamily property, and we couldn't be more excited.
We are teaming up on our real estate journey primarily for financial freedom, and freedom from our 8-5 jobs! On top of that, our community is important to us. As citizens of Lakewood ourselves, we are grateful for the opportunity to invest in our community.
We are focused on the buy-and-hold strategy of small multifamily properties. Specifically, we prefer the BRRRR strategy, buying C properties in A/B areas to really take advantage of the equity gain. Our first fourplex fits this mold, and we are looking forward to diving in! One very influential read was the 7 Years to 7 Figures publication, which is the model we are trying to follow. Essentially, we plan to purchase a few more fourplexes, and then flip them into small, then large apartment buildings in the northeast Ohio area.
Right now, our immediate focus is setting up our team of contractors, maintenance people, a CPA specialized in real estate, and an attorney specialized in real estate in the Cleveland, Ohio area. In addition, we are forming our processes surrounding our contracts, tenants, rent collection, daily operations, etc. so we can be efficient and run our rental professionally.
In the future, we are looking to build out our team of private investors, progressive (read: fast close/superior lending terms) mortgage brokers, and property manager(s) so we can scale our business successfully.
Looking forward to meeting and interacting with you all on BP!
Nick and Sarah
