Hello All! Hope you’re doing well!
Will and Rachel here from the Orlando, FL area (Lake Mary)
We’ve been following and watching BP for a long time (and the awesome Rookie podcast as well). We adore all the info and resources this entire community has put together!
Even though we have been actively following BP stuff for years there wasn’t much we could pull the trigger on (married very young, raised three kids and were always working multiple jobs to pay for life. It simply left no time, room, or capital to do what we always wanted…) - BUT now my (Will’s) company sold! - it’s a mid-size contract manufacturing company for supplements based in Utah. We close on the sale in the next few weeks - which brings me and Rachel to the doorstep of our next and final careers; Real Estate Investing!
We’re now empty-nesters in our mid 40’s and we finally have some capital and we’re psyched to jump full bore into this!
We have some hurdles though (owning 7 businesses over the last 15yrs and the debt that came with those, covid wrecked us… along with a mountain of college student loan debt for us and our kids), our credit is… rough, to say the least lol… we really have no idea how to begin. We assumed we would have to put up almost full cash buys or extremely high down-payments at this point.
We know how important mentors are and are very eager to learn. We’ve watched soooo many different people on youtube, however, we figure going to local RE investor meet-ups is really the way to go. We absolutely love the Central Florida area and want to stay settled here (we’ve been here for 30 years). But we do realize that investments can be nationwide when the deals are right.
To be honest, recently we've recently become disheartened looking at properties - we finally sold the company, after a couple years of trying, and it seems our timing is just horrible :( it’s just so expensive now… and our initial expectations of picking up a plex and a single family or two to start just seems so out of reach.
We are actively looking for any help, guidance, and overall mentorship. We are incredibly easy to get along with! :)
We have a few different areas we would like to pursue:
- Small Multi-Family (duplex, tri, and quads), for cashflow
- Single Family 3/2’s (trying to stay under the median price-wise) for appreciation and longer holds
- We’re very open to other revenue streams as well (Investing groups, passive income streams etc…)
- We also discussed potentially buying some lots and just building multi-families because the small multi-family stuff feel so dry in Central Florida, and getting into large multi-family with investor groups just seems out of reach.
Well, looks like I'v e written way more than I thought I would as an intro! Sorry about that!
If you made it this far, thanks a ton! hahaha
“Autobots, roll out!”
-Will
