All Forum Posts by: Travis Henry

Congratulations, David! I love the fact that you pointed out that "everything you need to know is right here but it is on you to invest in yourself" - that's so true! Hearing success stories like yours helps to keep me on track and moving forward with my own investment journey. Thanks for sharing your first purchase with the community and all the best to you!

Hi Robert! Thanks for putting this question out there - personally, using a daily journal has helped to keep me focused on my short- and long-term goals. Whether it's reaching out to certain people, analyzing a number of properties, or even picking up a new book.

What I've heard from a lot of successful people, whether in business or sport, is that motivation means a lot less than discipline (which, I suppose is another way of saying persistence!). We can all set grand goals after listening to a motivational speech or powerful testimony. But when that mood leaves, will you be disciplined enough to continue doing the boring but necessary things to keep you progressing toward your goal? Asking this of myself is what got me to start using a daily journal!

@Ross Matuszak Hi Ross! Thanks for the insight! The thing that initially drew me to Clarksville was the stability from base guys coming through Fort Campbell and the students from APSU. I could be completely off here, but I'm wondering if the addition of the LG plant might spur growth to a point where it might be as difficult to exit in the future, as you're suggesting.

I'll definitely keep Nashville in mind, and will be sure to reach out with any questions on the area. Thanks again, Ross!

@Eric Yi Thanks for the information! Even though I’m not living there myself, welcome to Clarksville! I’d be interested to hear how/if your thoughts change as you get to know the surrounding area.

@Henry Davis I think you would be hard pressed to find anyone who says Grant is flat out wrong; if they do, it might be time to question their credibility. It seems pretty obvious that his model works well for him, but at least for me, the main takeaway is that this is just one model. 

As you mentioned, there are countless number of podcast guests who've found independence through SFH and small multifamily units. Maybe it's not necessarily that you need to agree or disagree with Grant, but rather that you're able to internalize his concepts and scale it to where you're comfortable as an investor.

@Henry Davis I think it's awesome that you're asking these questions at 16! I can't remember on which BP podcast I first heard this, but the idea is something like: 

Your first deal is not going to get you "financial freedom." The purpose of your first deal is to set yourself up for your second, third, fourth, fifth deal.

If your expectation is to hit a home run on your very first at-bat, you might be setting yourself up for disappointment. Why not look at your first deal as an opportunity to learn the game, build your team, and make (cheaper) mistakes on your way to the bigger deals?

Another option might be using a robo-investor, like Wealthfront or Betterment. In addition to my company-sponsored 401k, I have a Roth IRA at Wealthfront, and they've been really good to me over the past five years or so!

@Heather Collins That's tough. Coincidentally, we're looking to move on something in Tennessee! I understand their reluctance, but I wonder if things might change if you're able to show them that a cash flowing property in Tennessee could very well end up paying for itself, while your 9-5 in animation continues to pay down the mortgage on your condo.

@Heather Collins Welcome to BP! Like you, my wife and I live in a rich market with pretty wild price-to-rent ratios. We're planning to purchase our first OOS property by the end of the year (or early 2019). Do you have anyone in your network currently living in another part of the country where investing would make more sense?

I've been reading about a lot of BRRRR success stories in the forums lately and was wondering - what's your process for finding your go-to contractor on projects? What questions are you asking? What 'clues' are you looking for?

Ultimately, I'm looking for a contractor in the Clarksville area. I haven't been able to find a recent Tennessee subforum post on this topic, so I'm excited to learn about the vetting process people are using to find their contractors!