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In part 2 I’ll outline: The market conditions of the middle of 2020 and why it was the perfect time to sell, a definition and discussion about the Return on Equity % metric, how and why I decided which properties to sell.
If you’ve been a regular follower, you know that one of my major 2020 undertakings was the completion of a massive 1031 exchange. I sold three properties, then bought three new properties. This process allowed me to defer all capital gains from my sales, plus improve my cash flow by around $1,500 per month…
It’s been quite a while since my last blog post, but as you know the whole world has been dealing with a whirlwind of change and uncertainty due to the COVID-19 pandemic. I have been busy for the last 5-6 weeks pivoting my business, and adapting my personal life to the “new normal”.
I still have a hard time believing it but it has now officially been a full year since I’ve been a full time real estate entrepreneur and investor. To mark this milestone, I thought I’d share a little about what my life is like now that I’ve been away from the J-O-B for 12 whole months.
For those who have been following along, you already know this, but 2019 was a pivotal year. Not only did I go full time into real estate, but my acquisitions from past years finally started to REALLY perform well. I also accelerated my new acquisitions exponentially, as well as did 2 flips.
Cash flow is one of the most important metrics in real estate investing, as well as any other business endeavor. If your business entity does not produce positive cash flow, your options are limited at best, and at worst, you could be in serious financial trouble.
If you are a long time subscriber (or even a new visitor), you know that all has not gone well. I’ve made some mistakes, learned some lessons, and also got pretty unlucky. Maybe this is normal for all real estate investors. So the question is: even with all the issues affecting my cash flow, did I still make good returns AND was it worth it?
I am happy to report that the final numbers are in from our first TWO successful BRRRR's (Buy-Rehab-Rent-Refinance-Repeat).
Who says lightning doesn't strike twice? These were two half-houses (left and right side of a building - we now own the whole building) that we separately purchased, rehabbed, rented and refinanced….