Member Spotlight – The War Room REI Mastermind group!

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Jin Lim Jin Lim is a member of the War Room REI Mastermind group!

Buy & hold real estate investor

Marine Corps veteran

Oahu, HI

 

Jin has been a real estate investor since 2017. He is a Marine Corps veteran having served 5 years active as a linguist.

What’s working for me right now?

Working with a more experienced investor in my target market of KCMO. Without him, I probably would still be analyzing properties nonstop. Working with a more experienced investor gives me the confidence to move forward. He has a strong network/team already built up out there, and I get to leverage that same team by just working with him.

What’s my big hairy audacious goal?

I would like to reach $10k in monthly rental income within the next 10 years. I don’t want to do it to “retire early”, but rather help my parents retire comfortably when that time comes in about 10 years.

What’s my most recent accomplishment?

Bought my first investment property in April using 100% of other people’s money! My original goal was to buy one property within the first quarter of 2020, but I missed it by a few weeks.
The property is a BRRRR in KCMO. $45k purchase price, $41k estimated rehab, $115k-$120k ARV. Should rent for around $800-$900/mo. originally a 2/1, but we’re increasing it to a 3/1; thus the big jump in ARV. Not a “home run” by any means, but it’s my first deal!

What’s the most important thing you’ve learned through this Mastermind group?

Focus.
I recently got a temporary one-year assignment in Hawaii with my government contracting company. I planned on doing a live-in flip during that time and found a property that would’ve netted just under $15-20k in profit once I sold after a year.
After talking about the deal with my group, I decided to stay focused on my goal of buying more rental properties in KCMO. You could argue that I’m throwing money away at rent, but I can now acquire more rental properties because I’m not locking up my cash into a live-in flip for a year.

Yes, I’d make more money doing the live-in flip ($20k in a year) instead of just collecting a few hundred bucks a month in cash flow in some new rental properties, but I need to stay focused on my long-term goal of passive rental income, not just a one-time burst in profit.

What’s the biggest struggle you need help overcoming?

Wanting to do a whole bunch of things in my life. I want to keep buying more rental properties, I want to go and get my MBA, and I also have a lead generation side hustle for service-based businesses.

Remember the last question you asked? I need to focus.

These are all things I want to continue doing, but it’s apparent that my slow progress is due to my attention being spread across multiple different things.

How do people get in touch with you?

The best way to reach me is by finding me in the Facebook group and adding me as a friend.

I don’t use social media to post very often, but I do use FB Messenger and Instagram PMs for communication quite often.

Instagram: @jinylim_

Join the War Room REI Mastermind *hint from Dave*

Andrew Dorazio Andrew Dorazio is a member of the War Room REI Mastermind group

Buy & Hold Real Estate Investor and Agent

Army Veteran

Chicago, IL

 

Andrew has been investing in real estate since 2008 and has built a small portfolio of rental properties and short term rentals across the US (34 total doors). He is an Army veteran, having served 6 years active as a Patriot missile operations officer and is currently a manufacturing consultant for Ernst & Young. Andrew is also a real estate agent in Chicago, has 1 daughter and a son on the way, and really enjoys going to open houses pretending not to know anything about real estate.

What’s working for me right now?

Focusing on the high dollar item tasks (raising capital, finding deals) vs day to day ops has been a tough mindset shift for me but is paying off. Also I’ve always been a proponent of multifamily real estate because it scales better, but learning about and leveraging non-recourse financing has changed things dramatically for me.

What’s my big hairy audacious goal?

Get to 100 units in the next 3 years, but really its more about building a sustainable, scalable real estate business that will enable me to quit my job and focus on real estate investing full time.

What’s my most recent accomplishment?

Picked up a historic SFH in Jacksonville that my partners and I intent to fix and hold, and convert to a short term rental. Also have a 6 unit in Chicago under contract, somehow built a website by myself for my syndication group, and is getting a children’s book published titled “Baby’s First Business Book” to help teach children about entrepreneurship, coming September 2020.

What’s the most important thing you’ve learned through this Mastermind group?

Accountability is king, and surrounding myself with smarter and harder working people is tremendously humbling and motivating.

What’s the biggest struggle you need help overcoming?

Focus – I have spent the last decade investing with different groups, markets, asset classes etc and lost all focus and control. I am leveraging my mastermind squad to help get me focused on 1-2 businesses and breaking down each into repeatable, mundane parts that I can relentlessly attack each day.

How do people get in touch with you?

Email – [email protected]

Phone – (914) 420-2881

 

Nathan Cross Nathan Cross is a member of the War Room REI Mastermind Group

Entrepreneur (property management company), flips, wholesale, buy and hold investor

Army Veteran

Saint Louis, MO

 

Nathan shifted his focus to Real Estate since 2016 and has been able to build his capital by flipping and wholesaling deals. He then took these profits and bought into a Property Management Franchise where they have opened up operations in the Saint Louis, MO market. Nathan will be officially retired 01 Oct 2020, serving 20yrs on Active Duty. He is married with four children and looks to pass on his knowledge to his children so that they can start on their path to financial freedom and entrepreneurship much faster in their lives.

What’s working for me right now?

Currently networking and providing ”proof of concept” has gone well thus far lately. It has allowed me to not only explain my overall business concept, but I am able to point people to my website and my business social media that I am taking this very serious that this a business for me not a hobby.

What’s my big hairy audacious goal?

That I will have both my business ventures up and running with me working on the business and not in the business within the next 3 years.  Also having a personal portfolio of 25 doors at the minimum, since my main focus will be growing my business and brand in the Saint Louis market.

What’s my most recent accomplishment?

I would have to say; taking the leap into being an entrepreneur and taking the risk of the possibility that it may not work out as planned.

What’s the most important thing you’ve learned through this Mastermind group?

The power of surrounding yourself with the right people that will hold you accountable for your actions as well as support your overall goal.

What’s the biggest struggle you need help overcoming?

Networking with proven “doers” that may have experienced my current and future struggles.

How do people get in touch with you?

Email – [email protected]

Phone – (931) 542-8092

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If you want to upgrade your network, and surround yourself with service members and veterans who are crushing it in real estate investing, and entrepreneurship, Apply Today! You can also go to our Resources page.

More on the Importance of Mastermind Groups can be found in the book Think and Grow Rich.

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David Pere

David Pere

David is an active duty Marine, who devotes his free time to helping service members, veterans, and their families learn how to build wealth through real estate investing, entrepreneurship, and personal finance!

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