Hello - I'm Brent
Growing up I got good grades to get into a good college. Then I got a good degree to get a good job. A couple years into my career I realized I didn't want to spend the next 40 yrs in the 9 to 5 (more like 6 to 5). I remember seeing co-workers, clients, etc decades older than me whose life appeared to be their job. And it looked like other areas got sacrificed for it. Divorces, estranged kids, health issues, or no hobbies. Or even retiring only to work more right after. That scared the shiitake out of me.
So I started a side hustle online business, dabbled in dividend stocks, tried P2P lending, and jumped into every podcast, blog, and book I could find. After awhile, the standard advice of maxing out your 401K and opening a Roth IRA with Vanguard mutual funds and living off 4% gets old. And I’m all for being smart with how you spend money, but living your life with soul sucking frugality just isn’t sustainable or fun. Somehow giving up your latte or avocado toast is the road to financial freedom.
Financial freedom, financial independence, FIRE, early retirement; They're all the same thing. The freedom of time to do what we want, and when we want. The reality is I want to enjoy my life, spend time with my family, and do it while I’m young. I want to go to the mall or Costco in the middle off the day when they aren't crowded and not have to sit in bumper to bumper during rush hour. I want to be able to take a spontaneous trip or wake up when I want. That's the dream.
So why real estate? And why multifamily?
There’s some statistic that 80% of new millionaires were created by business and/or real estate. Real estate offers one the best ways for mere mortals to build wealth. So I joined a local real estate investment group and learned to buy, fix, and rent single family homes. Those properties did well and I'm not going to argue that making 20% or 30% cash on cash is a bad thing. But after awhile tenant issues, turnover, and repairs wears on you.
The "A-Ha" moment that it would take awhile to scale up. And adding a few hundred dollars a month is great, but it's not life changing. It's going to take awhile for it to buildup. And all it takes is one A/C replacement or tenant turn to kill your yearly cashflow.
Getting a large check from a capital event from a multifamily property is lifechanging.
Follow my on the journey. I don't have it all figured out, don’t have the gray hair,
You can email me at firstname.lastname@example.org. Yes, that’s my real email.