How BADLY do you want success?

[G_Alexander]

Just think about it:

Thomas Alva Edison:
"Genius is one percent inspiration and ninety-nine percent perspiration."

Franklin D. Roosevelt: "When you come to the end of your rope, tie a knot and hang on."


I have decided I am going to begin looking for my first apartment building this summer. I am currently pooling together friends with cash. I may only be 19 years old, but I have taken in knowledge for 2 years now, and it is time for action. If I fail, I am sure I will learn much more than any book can explain to me. My plan was drawn up for my first acquisition to occur after college, I will need to change that now though. I figure I will use a buy and hold strategy on this building, with the possibility of cash out refi or 1031 depending on what happens. Maybe I can have close to 20 units or more by the time I graduate (obviously need to take it slow while I am in school), with friends in downtown Chicago managing them.


I still need to draw up this plan, and there is a lot of legwork to be done, I am just thinking aloud here right now. Post started as motivation and turned into what is going on in my head right now.


Thanks for reading,


G. Alexander

 

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[andviv]

I have decided I am going to begin looking for my first apartment building this summer.
...
My plan was drawn up for my first acquisition to occur after college, I will need to change that now though.

Cool!

Now, may I ask WHY are you changing your plan?

 

[20art]

Very cool! Wish you the best

 

[G_Alexander]

Cool!

Now, may I ask WHY are you changing your plan?

Andviv,

My original plan called for me to acquire my first apartment building after college, when I would have the time to properly manage it on my own. I realized though that I could build my net worth while I am in college if I buy a few smaller units and have my friends in the greater Chicago area manage them.

Once I graduate and get my first J.O.B. for awhile...I will continue on with my original plan, managing the properties on my own and acquiring more. When the time is right I will quit my job and make the acquisitions a full time thing.

G. Alexander

 

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[terrycan]

Dear G Alexander

Hearing such a wise young man is good.

The market has bottomed.

You are buying at a great time.

 

[Intax]

Dear G Alexander

Hearing such a wise young man is good.

The market has bottomed.

You are buying at a great time.

And 10 years later: he was so right ^^

 

[The Abundant Man]

In all seriousness, good luck.

We're all gonna make it.

 

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