All Forum Posts by: Taylor Nunn

1. Started the day I was 18 and signed a contract.

2. I would have moved to the USA in 2008-2011 and forgot the Australian market. 

No regrets though! Life happens for you though, not to you. I can achieve everything I want still!

 No I started and did multiple deals before I ever got my license. I actually just got my license this month but you definitely do not need it to do deals. Actually in some cases it is better not to have your license so then you do not split anything with your broker etc.

@Taylor Nunn ,  If I could start over again,  I would jump on investing younger,  I would go to the REIAS, I would not be  a good Realtor for so long without learning to invest, I would partner  with a lot of my clients to split profits on their acquisitions 

I wouldn't buy sfr's. I would buy multifamily with high leverage. 10+ Single family residences are a headache 10 tax bills 10 insurance bills on and on. Much more difficult to leverage than multifamily building's. 

Stephen 

That you don't need a ton of money to get started. If you find the deals the money will find you.

Don’t buy a historical house

Well I bought by first property when I was 20, I'm 25 now and have had  and sold 8 since then. My first deal I had a partner who didnt bring anything to the table as far as money or flipping skills. Had to split $100k profit with him and it hurt so bad..... Lol never have a partner, realestate investing doesn't require a partner. You write an offer, get the property, fix it, sell it. Done.   

It's the only way I know where you can get a lump some of money at one time. Don't split your money, it's not worth any kind of relationship

I would have used more leverage like commercial loans with higher LTV than Fannie Mae loans in order to buy more properties with my limited cash back in 2010.

1. Know my strengths and focus on them.

2. Build a good team first, then go find the property. Good teams outweigh what market.

3. House hack A-class duplex or up. 

4. Only buy in A/B+ areas with built in equity and a value add opportunity.

5. Use a PM or pay someone to lease up the property.

6. Get 3 units using leverage, then snowball the debt to set a solid foundation.

7. Have $10,000 in reserves per property.

8. Keep building the dividend stock portfolio in the background.

9. Don't go too fast, after a few your strategy shifts and becomes more focused.

10. Save, but don't forget to reward yourself to stay motivated.

@Taylor Nunn

Easily the dumbest thing I did.  I had a handful of cashflowing rentals a good w2 and not enough self discipline.  A few years later I realized it was a waste of cash. Sold it and bought a 4-plex . I get a chuckle whenever I see these 20 somthings in thier jacked up diesel trucks with about 15k in mods in it... That and campers. I swear they have to be the worst use of cash possible.  You see the new truck with 30k camper behind it, all I can think is your working until your 70.