Cash flow

2,567 Views | 16 Replies | Last: 2 yr ago by jonj101
surveyor05
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My Dad passed away suddenly in a car accident in 2011 at 54.

He was around to see both my brother and myself make it through college (thanks to him and Mom)and was looking to retire in the next 5-10 years.

At the time of his passing, Mom had a part time job but without my Dad's income she was going to have to make some major changes or figure out how to make some life insurance and his 401k last for the rest of her life (she was 54 also).

Cash flow was a problem and the responsibility to figure out how to make ends meet fell to me.

The majority of the money was left with a professional manager.

With what was left over, I tried to make it work through dividends and stocks but didn't have the skill set to manage it effectively or evaluate the companies we were investing in.

We decided to make a change and start investing in real estate.

We started in 2015. I was in oil field/off shore surveying and my partner was a drilling consultant who was laid off. He went full time from the jump and I switched to real estate full time in 2018.

We now own/operate/manage ~900 units all over Texas that cash flow every month no matter what the stock market decides to do.

We'd like to meet up with other Ags and network at one or more of the games or even a cup of coffee or drink.

We operate all over the state so we could meet with just about anywhere, but figured with the season just around the corner, we could organize something around one of the games when more of us would be in the same place.

Would any one have any interest in that?
Waltonloads08
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Very happy for you and your family after what must have been a terrible loss. Also good on you for offering to pass knowledge along to fellow Aggies.

One question, ultimately interest rates are going to make real estate barriers to entry higher in my uneducated thinking assuming most people don't have lump sums of cash to invest- what are your thoughts on this? Or is this more for people with cash they need to put to work? Thanks for the post.
Stan Crowch
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Are you pookie's partner?
aggiedaniel06
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What is your main intent to meet? Just plain networking? Looking to divest? Something else?
Ranger1743
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Your story is genuine I'm sure, but asking strangers on the internet to meet up and discuss real estate with no details given strikes me as a bit fishy.
PeekingDuck
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With the lead off sentence about the death of a father in a post titled, "Cash Flow". I'm out.
Sims
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You guys are of course free to form and promulgate your opinion of Surveyor's post but I would at least hope you give him the benefit of the doubt on his motive. He's one of the most sincere, genuine, and grounded people I know.
terradactylexpress
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He needs more LPs for his cash flow
Stan Crowch
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Sims said:

You guys are of course free to form and promulgate your opinion of Surveyor's post but I would at least hope you give him the benefit of the doubt on his motive. He's one of the most sincere, genuine, and grounded people I know.


I'm not forming any opinions. I just asked whether or not the OP has a business association with the person who on this very board a couple of days ago posted notes for sale (on at least one of which the borrower had previously defaulted) without disclosing he owned/originated them.
Sims
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Fair question
JohnLA762
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Buy an ad!
TChaney
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Stan Crowch said:

Are you pookie's partner?
itsyourboypookie
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terradactylexpress said:

He needs more LPs for his cash flow


Nah. Just a pretax weekend in college station is payment enough.

I'm in. Let's nail down a date.
itsyourboypookie
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Sims said:

Fair question


Just looking to see how Wall Street underwrites mortgage notes.

Wasn't hiding my involvement.
Aggie_2463
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Knowing surveyor, he's a legitimate hard working dude that's honest and not looking for any angle. Networking with others in your field, and fellow ags, never hurts.

No I'm not a business partner, but I have been lending with them for four years making 16-18% a year while my 401k has barely recovered what it lost last year. Full disclosure
clobby
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What game are we going to?
jonj101
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I'm interested - whether we network at one of the games this season or if we can coordinate something in the Houston area that would work for me. My username at Gmail is my email if you'd like to reach out.
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