RoadRacer
I'm a Registered Nurse. I've worked as an RN for over 17 years, all in pediatrics. I've dedicated almost half of my life to helping kids and it's had its ups and downs to say the least. I'm currently working as a night shift charge nurse on the neuro unit at a Children's Healthcare of Atlanta hospital. I've been here for almost 15 years, but I'm now ready to jump into the real estate world.
I'm going from fixing sick kids to fixing sick houses! I have no intentions of quitting my job at the hospital anytime soon, but the idea of eventually leaving the long hours and heartache for the kids behind does start to sound more appealing if I can manage to pull this thing off.
Originally I was looking to purchase a 4 unit apartment building to buy and hold. But, the longer I looked and researched I began to realize that I didn't want to have all my eggs in one basket. If I purchased a multi-family unit then it would take quite a while to build up enough money for a downpayment to purchase another unit. Then I began studying and researching rehabbing or "flipping". If I can manage to turn a decent profit on a few flips, I could use that to purchase "buy and hold" multi-family units and also continue to flip! So now I have a two-fold business plan... actually a plan for two separate businesses. Mended Properties LLC is the company that will conduct my flips and I will form another LLC for my rentals in the future, when needed.
I owned a single family rental property for about 7 years, but it happened by default. I bought the home in 2002 and it was my primary residence until 2008 when I was ready to move. The housing market was drastically (understatement of the year?) different in 2002 than it was in 2008 so I basically couldn't afford to try to sell the house at that time. I sold the house in December 2014 after my tenants moved out. Since then I've purchased a lake house that I rent out as a vacation rental.
I purchased my first flip property around the end of January 2011. Follow this blog post to get the details of that.
I hope you all will join me on my journeys and feel free to post thoughts, suggestions and comments.
Take care,
Andy
I'm going from fixing sick kids to fixing sick houses! I have no intentions of quitting my job at the hospital anytime soon, but the idea of eventually leaving the long hours and heartache for the kids behind does start to sound more appealing if I can manage to pull this thing off.
Originally I was looking to purchase a 4 unit apartment building to buy and hold. But, the longer I looked and researched I began to realize that I didn't want to have all my eggs in one basket. If I purchased a multi-family unit then it would take quite a while to build up enough money for a downpayment to purchase another unit. Then I began studying and researching rehabbing or "flipping". If I can manage to turn a decent profit on a few flips, I could use that to purchase "buy and hold" multi-family units and also continue to flip! So now I have a two-fold business plan... actually a plan for two separate businesses. Mended Properties LLC is the company that will conduct my flips and I will form another LLC for my rentals in the future, when needed.
I owned a single family rental property for about 7 years, but it happened by default. I bought the home in 2002 and it was my primary residence until 2008 when I was ready to move. The housing market was drastically (understatement of the year?) different in 2002 than it was in 2008 so I basically couldn't afford to try to sell the house at that time. I sold the house in December 2014 after my tenants moved out. Since then I've purchased a lake house that I rent out as a vacation rental.
I purchased my first flip property around the end of January 2011. Follow this blog post to get the details of that.
I hope you all will join me on my journeys and feel free to post thoughts, suggestions and comments.
Take care,
Andy
- Your Expertise
- Real Estate: Rehab/Fix/Flip
- Gender
- Male
Awards / Rep Bucks
-
15
The Avatar Award ($15)
Member avatar added! -
25
The Stage Award ($25)
Writing and posting your first forum post.
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