My real estate progress is in a bit of a lull right now.
I’m working diligently to stabilize and provide good returns to my investors on my first multifamily property which I bought in June of this year. We are already looking for our next deal, a 40-50 unit North Carolina but those deals just seem to go a bit slower than the single family deals. During this time of searching I’ll provide updates for the types of deals we look at, and the lessons we learn along the way, but unfortunately there won’t be many purchases until the next big one.
Currently the multifamily is going well. I will say I underestimated the troubles in the transition. We bought it 100% occupied and looking back it was SILLY to think it would stay that way. New owners means people will vacate: Fact. It’s not a big problem at all, we did the deal pretty conservatively and have had only a few tenant issues and turnover but it’s been annoying enough that I want to mention it to you. When you buy something occupied, expect there to some people leave just because of the change.
We should be net cash flow positive first quarter and that includes some rehab costs and unexpected water main bust so I’m feeling pretty confident but I want to be really confident before buying the next one. I have no ego about being the biggest real estate investor as fast as possible, I want to survive the LONG haul so slow and steady is my strategy.
With all the said, when I’m not buying deals I’m fucking BORED. So I’ve decided to work a bit harder on content production in the meantime!
Content production is quickly becoming what I think is the second best possible investment. My blog is not even two years old yet and the response from it has been profound.
First, I’ve been able to help a lot of people buy houses and make money and I’m GRATEFUL for that opportunity.
Second, the outreach from people saying they just enjoy my content is amazing. It’s not really an ego boost, it’s more of a feeling of responsibility. Like, the market is telling my my ideas are valuable so I better deliver!
Third, creating content can be quite intimidating. Writing was very difficult for my at first and while I’m still terrible, I’m better and most importantly I’m getting less insecure about it. THIS ABILITY WILL SCALE.
Overcoming discomfort is my main focus, not measuring exposure. Also, the ability to communicate with people over social media in a variety of different formats is going to grow massively as we go into the future. I’m so glad I started doing all this.
I wrote a bit on why YOU should start building content immediately as well. You don’t have to, but the later you start the more I’m going to out compete you….
Let me share with you some external content I made
I wrote this post for Biggerpockets recently about how to NOT over improve your properties
AND
I’m going to talk more about Youtube below, but I wanted to make a video for my friends at Biggerpockets and their upcoming Biggerpockets conference (which I HIGHLY recommend). I made it, told them about it, sent it to them and they loved it. Tight!
Ok here is the truth about the podcast
I tried that first season to see if I would like it, and I mostly did but I half-assed it. This is why the thumbnails suck, the intros and outros suck, and there is no video. I was towards the end of the first season and I was planning on quitting AND THEN right towards the end of the show I put the new intros in and started getting emails of people telling me how much they liked it. Then the LAST episode I said at the end of hte show I was taking a break and I got a big influx of emails saying they didn’t want me to break….SO
Season 2 is starting recording THIS WEEK and will be out sometime in September. We will have most of the same guests back to update their stories plus a few new guests. I’ll have better graphics and all episodes are going up on Youtube as video as well.
So big big big thank you to all who read this and make an effort to reach out to me, whether through email, Instagram, or Facebook. This is a small community still so those interactions really make a difference.
I finally started a YouTube channel!
It’s super amateur, but it’ll get better. I would love any critique/feedback you may have. If you just want to email to tell me I suck, many of my readers have done so and I will be grateful for your honesty LOL
My investor list is growing, but this will be an ongoing process.
If you want to get in on the next deal, let me know!
Someone who reads my blog found me and we bought a few single family homes together. Then that person brought me that multifamily deal and we closed it together. So participating can have real tangible AND PROFITABLE effects. Don’t be shy yo.
I’ve been putting book content on Youtube.
I love reading and sharing content about books, but I’ve gone off to left field with books this year. Not sure what’s up but I’m reading stuff no one else is going to care about. That said, I still like doing it.
A People’s History of the Supreme Court: The Men and Women Whose Cases and Decisions Have Shaped Our Constitution – Peter Irons
The Selfish Gene – Richard Dawkins
There are few things I like talking about more than books, so if you’ve read these or want to or have a suggestion of similar books. Let me know 😉
