MISSION
To make real estate investing accessible, approachable, and FUN!
GOALS
Early on in my investing journey I made the goal of 45 doors by 30 (a single family is 1 door, duplex is 2 doors, & so on). At the time, with 0 doors, this goal was SO scary, and I had no idea how I was going to get there.
Fast forward a few months with 1 door owned, and 3 under contract, I realized i) I needed bigger and scarier goals and ii) my goals needed to be based on cash flow and not quantity of properties. With the goal of owning larger multifamily, I would likely not own 100% of each door, so a goal based on quantity no longer made sense.
My new goal is $20,000/Month passive income from real estate which will likely be made up of some single families, some small multifamilies, and hopefully a few large mulitfamilies as well!
FAQs
HOW I GOT INTO REAL ESTATE:
When you ask someone how they got into real estate you typically get one of two answers: 1) my parents work/own real estate or 2) it was completely random. My story falls into category #2. I had a brief stint in residential real estate in highschool, working as a transaction coordinator for a local realtor while I worked weekends at a local coffee shop. I absolutely hated it.
I graduated highschool and went to Santa Clara University to study Finance (the easiest business major) and Sustainability. I thought I would end up working in some urban planning nonprofit or sustainable development firm. I met a friend freshman year who worked at one of the big 5 commercial real estate firms and when I really needed a job, he knew of an opening. I remember telling my future boss during my interview “I don’t know anything about commercial real estate” and “I don’t intend to stay in brokerage for very long” (probably not my best performance) and yet he gave me a shot anyways. I ended up interning there for 3 years throughout college and then being hired as a broker full time when I graduated college in June 2020 (mid-pandemic).
HOW I GOT INTO INVESTING:
As a commercial real estate agent, I act as a middleman between companies and owners. Although deals can be exciting, I realized I could never be the principal in those transactions. I wasn’t the one investing, building a business, or receiving passive income - I had to hustle every day to dig up new business. It was that realization that forced me to look seriously into investing.
It didn’t make sense for me to invest locally since the average fixer upper in my area is still near $1M with another hundred thousand dollars in renovations. I had a few close friends who were investing out of state in areas where the average house was ~$100K. At first thought, out of state real estate seemed absolutely crazy, but the more I read, the more feasible it became.
In May 2020 in the midst of shelter in place, I found myself with a lot more time on my hands. I had saved a good amount of money from working full time through college, and I thought now was as good a time as ever to give out of state real estate investing a real shot. Within 12 weeks I identified Cincinnati as my market, built a team of an agent, lender, property manager, and general contractor, and closed on my first rental property, sight unseen!
WHY CINCINNATI?
When looking for an out of state market, I always tell people to look where they have a competitive advantage - whether that means familiarity with the area or someone on the ground who you can trust to check on your property.
In November 2019, I was working on a commercial real estate deal in Cincinnati, helping a client significantly expand their headquarters there. Through that deal, I got to know the Cincinnati market and a few investors who were active in the market. They were later able to refer me to agents and contractors who would be instrumental in buying my first property. On top of knowing people in the market, the numbers just made sense. With an average home price of $100-200k, I had enough money saved for a down payment. After analyzing a few deals, I found that the market cashflowed well AND had potential for significant appreciation in the coming years.
Disclaimer: I am not a licensed financial advisor, underwriter, or broker. All financial and/or investment advice is based on my personal experience and is meant solely for educational purposes. When making investment and financial decisions, you should do your own research and/or consult with a licensed financial professional.