THE W-2 REAL ESTATE INVESTOR

As a buy and hold investor, I own multi-family properties in Seattle WA, Columbus OH, Austin TX, and Des Moines, IA. I have over a decade of experience personally property managing my portfolio in Washington State and took that experience to co-found MVP Property Management in Columbus, Ohio. What makes me different than most real estate investors is that I’ve done all of this while working a full-time W-2 job in technology. I believe real estate investments are an important part of a long-term financial plan and am always willing to talk with other investors, especially those just starting out, to discuss a plan and a strategy that makes sense for each individual.

MY REAL ESTATE JOURNEY

I learned the basics of property management at a young age, following my mom around the rentals that my family managed in the Los Angeles area. My first job in real estate was during my undergraduate days at UC Berkeley, where I was the on-site apartment manager for the 19-unit apartment building that I lived in, which allowed me to live for free through college. After college, I pursued a career in Technology, which I still do as my full-time career.

I bought my first investment property in 2005 while I was a graduate student at Cornell University. The property was a duplex in a nice neighborhood and walking distance to Cornell University, but had sat on the market for over 6 months due to some foundation issues. I found a contractor in the area to fix the foundation issues, and was able to negotiate a purchase price well below asking based on these foundation repairs. Once the renovations were complete, I moved into the duplex and rented out the remainder of the rooms and lived for free while I was in school. This experience started my journey in real estate investing and my ability to find properties that “no one else wants”.

I moved to Seattle in 2007 and bought my first property at the peak of the market, right before the market crashed months later. Through that property, I learned the importance of looking at real estate as a long-term investment, and being sure the economics of your purchase can weather any downturn. While I had lost somewhere between 25%-30% of the value of the house at one point (I honestly wasn’t keeping track at that point), the market has completely rebounded and the house is now worth at least 60% more than what I have put in.

In 2012, completed my first BRRRR (buy, renovate, rent, refinance, repeat), and have continued to use the BRRRR strategy to grow my current portfolio to 10 properties. Despite the Seattle market being one of the hottest in the country for the past decade and homes consistently going 15% over asking, I have been able to find opportunities in properties without ever getting into a bidding war. My properties have been cashflow positive since day one, and I have been able to pull out equity to finance the next investment. I self-manage all of my renovations, which gives me insight into timelines and actual costs for renovations. I also self-manage all of my rentals in the area, which gives me a unique perspective on issues which may arise down the road and what to look out for during the initial purchase process.

WHAT’S NEXT

Starting in 2018, I moved my focus to out of state investments in order to diversify my portfolio and have a better balance between appreciation and cashflow. After a lot of research, and trial and error, I found Columbus, Ohio as my favorite market to invest in. I had a great agent who could basically win any deal I wanted, but I struggled to find high quality property management in the market. Being a DIY’er by nature, I decided to partner with my agent to start MVP Property Management (your Most Valuable Property Manager). We are a full-service property management company built by investors, for investors, with a focus on providing high quality rentals for tenants while still delivering for long-term returns for our owners.

In the next phase of my real estate journey, I am looking to bring in partners and investors to scale my investments in the Columbus market. In addition, I am always open to talk with other investors, especially those just starting out, to discuss a plan and a strategy that makes sense for each individual. Please reach out to learn more.