Hey guys! So for those of you following our real estate path, I wanted to write a quick update on what is going on over here.
We just bought our 5th investment property so we now have 8 total units that we rent out. We are what you might call “buy and hold” investors- so the people that buy properties and rent to others.
If you want to see a quick 2 minute video of the property, check it out on Youtube. It isn’t much but it gives you and idea off how nuts we are. We are putting in some serious work to get this place up and moving. I will be posting some updates over there on what we are up to with some progress videos.
At this point in our real estate lives, we have found things that we love. For example, we know where to go for deals and which stores have the best quality for your money. We generally use Lumbar Liquidators for our laminate flooring and we buy paint at Menards. We get our appliances for our properties at Best Buy because they work with us on price. They will match their competitors and honestly we end up getting a sweet deal. We even have one person we like to work with.
We have a local flooring factory that we have become yearly members to as we get a discount on carpet. The carpet is good quality and the price is good.
Basically, what I am getting at is that even after a little experience, you figure out what works for you and what doesn’t. Once you get this type of experience and you know where to go for materials, it makes the process easier as you are not having to look around for the best deal, you automatically know where to go.
We have a couple paint choices we choose from because it just makes it easier if we don’t have too many big decisions to make. Some investors buy things ahead of time to have on hand. We are not there yet by any means but we will be one day.
Honestly, this process is still very exciting for us. We love what we are doing and we are planning on some serious growth of our business in the next year. We are even planning on jumping out of buy and hold into flipping this year. We are actively looking for deals in search of the perfect flip.
I want to give you updates because honestly, anyone is capable of doing what we are doing. Even big investors (which we are not) start somewhere.
If real estate isn’t your thing, but you have a business venture in mind, start taking steps to achieve that goal. It will be worth it!
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