Progress over Perfection
About one year ago I moved to Las Vegas to play professional soccer. Last March our season began and ended due to COVID-19.
At first, sitting at home and staying safe was great. Then I realized I was at the mercy of someone else. I worked for someone else and they could cut all income for me and my wife at any time.
The fact is, I was disposable.
Now, you may be thinking… You play professional soccer. You get paid millions! No. Not the case at all. Typical wages range about $0-$3000 a month for 10-month long contract.
The second week of March I was looking for a way to create income. I read “Rich Dad Poor Dad” and I realized I was looking at it all wrong. A mindset shift. Speaking to others about my new thought process, my old coach introduced me to BiggerPockets.
From that moment on, I was hooked. I listened to all the podcasts and read all the books I could get my hands on. It was September. Not going to lie to you, I had analysis paralysis. My girlfriend at the time, now wife, approached me and said, “What are you waiting for? You need to purchase a property otherwise you never will. Figure it out along the way.”
I had some hiccups purchasing my first rental property. Ended up reading David Greens book “Long Distance Real Estate Investing” and saw my next steps. Identified my market (Memphis), put together a team and put in offers for property that fit my criteria. Fast forward from October. I now have 3 rental properties and managing a flip.
My goal for the next 3 months is to acquire 16 properties. After networking, lead generation and funneling. There are two investors both looking to offload their portfolio here in Las Vegas. One seller has 30 properties and is moving to another continent for family reasons. The other wants to 1031 exchange into larger commercial properties. The plan would be to acquire 3-7 properties from each investor.
Originally my goal was 16 properties this year but one of the podcasts truly inspired me to make my 1 year goal into a 12 week goal aka “The 12 Week Year.” This seems like a large task so I have started the “Intention Journal” by Brandon Turner.
How would you complete the transaction of 3-7 properties from each investor?