All Forum Posts by: Zachary Clevenger

Me! Bought my first two properties last year at age 42. More to come! The best time... is now.

Josh, I am assuming that these are done monthly, hence the "monthly meetup". Are they always on the North Side?

I would love to attend this but I will run into issues getting my youngest off the bus at 4pm (hour drive home).

When is the next meet scheduled?

@Brady Carpenter

I understand. I've been to seymour multiple times to visit Acme Sports, been downtown Seymour to visit Bite the Bullet. Downtown area is nice, but otherwise not a very good area.

I suggested Columbus due to proximity, population growth, and economic growth.

Brady Carpenter Glad to hear you are making progress. I would like to make a few suggestions: Stick closer to home. Seymour is to far of a drive in my opinion from Indianapolis. I would stick closer to home (if it were me -say 30 minute drive max. You have to consider easy access to your property, you will most likely want to keep an eye on it.

Send me some info/pics at [email protected]. Thanks.

Ben Lacher Welcome man! Lots of folks from Indy metro area in here. Tons of information as well which can result in brain overload -so pick your poison! Enjoy the forums and never...never..never be afraid to ask questions.

@Mihir Bhimaraju

Hello my friend!

In response to SFH or Multis - After my discussion with @Louise A. this past Tuesday I would like to focus mainly on Multis, however "If" I came across a fantastic deal on SFH that meets my criteria (after analyzing and crunching numbers) it is still something that I can get my feet wet on. 

My area of location/focus is going to be Indianapolis (mainly because of the availability of Multis), Greenwood, and Franklin. 

I am still working out the details on what I am looking for as far as cash on cash return, Cap rates (for multis), cash flow. I have some general numbers in mind, but I need to plug the data in the spreadsheet that I just built (literally finished it haha!) and see what would best suit my needs.

Hope you are having a good time in India, and when you get back we'll make plans to have dinner. 

@Lee Cruz

Pros to the BRRR strategy are getting your feet wet, dealing with the ins and outs of your first real estate experience, dealing with people on personal level, ability to cash out refinance, and reinvest.

Cons to BRRR are dealing with bad contractors, under estimating repair cost, going over budget, unforeseen repairs, market trends just to name a few

Pros to partnering I would think are (assuming they are more experienced, if not....then don't do it) learning from their previous expertise and experiences while having your ball in the game as well, ability to analyze the properties and get feedback, less likely to have unforeseen repair cost, more likely to stay in budget

Cons to partnering are less cash flow for you, potential conflict if contract is not laid out precisely describing each members roles and expectations, I am sure there are more but thats what popped up in my head.

Hope these somewhat help and best of luck!

@Brandon Cobb

I believe it is all relevant to DTI (debt to income) ratios.

I have heard varying things on here and from others -so best source is to find a local credit union, bank, etc to confirm.

I have heard that you can have anywhere from 5-10 units/properties in your name as assets before institutions begin to get finicky about things. 

Best of luck!

Hello BP!

I have laid the foundation for my plan consisting of five phases and how I plan to give back. Please review it and critique!

As I said this is just the foundation of which the frame will be built, then the house. I know there will be adjustments and tweaking needed -this is just the alpha test mode....not even to beta testing yet!

@Louise A. @Barb Getty @Mihir Bhimaraju @Chris Wood and who ever else cares to evaluate!

Thanks for taking the time to read this as it is lengthy.

My end game..... 

Generational Wealth that my children's children can benefit from, and enough assets to set my daughters, and their potential families up for a good life.

How do I get there?
Well... Dream big and start small.

I have exhausted myself on podcast, read more in the past two months than the previous two years, networked, educated myself, and made moves to make the first step.

Phase One.
-Analyze 100 properties and hope to find one that fits my criteria. Make the leap of faith, offer, negotiate, and get the first deal DONE.
-Start building a team that is not good, but great.
-Seek sources of capital and financing
-Learn the ins and outs of property management, financials, dealing with people

Phase Two.
-Build upon my previous experience and acquire more units (multi family, and/or SFH)
-Reinvest my cash flow
-Build my assets
-Continue on the path of enlightenment (grow and develop)
-Begin to build my team that will eventually replace some (or all) roles I perform
-Enough cash flow to remove some stress of current W2 position

Phase Three.
-Aquire larger units in multi family (20+)
-Begin analyzing commercial assets
-Evaluate my portfolio and offload underperforming units and problem children
-Continue to find sources of capital, find partners
-Build or improve my current/future team and delegate, automate task/functions
-Cash flowing enough to begin/or change my career path

Phase Four.
-Locate and purchase a complex (100+ units)
-Continue to evaluate portfolio and eliminate problem children
-Remove myself from many roles, begin to "manage the managers"
-Continue to grow, develop, and network
-Remove myself from W2 work

Phase Five.
-Have a portfolio of 200+ units (multi family, commercial, SFH)
-Cash flowing enough to travel, enjoy my remaining time with family
-Systems in place to allow the "beast" to function without much attention.

***********************************Giving Back************************************
Assistance for Veterans 

-Housing, care, and adjusting/copping/Rehabs

Assistance for families with special needs children 

-Housing that meets specific needs, care, and equipment assistance
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