Anniversery and Update

3rd ANNIVERSERY

This week is a unique week for me!  It is unique because it marks my 3rd anniversary from being laid off.  That means for the past 3 years I haven’t had a traditional job or paycheck.  That means 3 years of being in business for myself!

I wish I could sit here and say that it has been smooth sailing and I haven’t missed that old job one bit.  Although, I guess it would be a true statement that I haven’t missed the job, only the consistent paycheck.  Going in business for one's self is hard and life has a way of knocking the snot out of you.  I can truly say that I appreciate the value of the dollar and how much it really costs an employer to hire an employee. But I've always seen myself as a sort of farmer.  I've been out planting my fields.  I've not yet got the rewards of all my labor.  Harvest time has not yet arrived. 

Another odd thing has happened in the past month.  I have had two companies ask me for an interview and a third company may even possibly be interested.  I found this odd because, I was not even looking or searching for these opportunities.  There has been several times over the past 3 years that I was searching for a job.  I sat for very few interviews and had not one job offer.  Had one of these companies approached me at that time I would have most likely jumped at the opportunity because it was always during a time when life had kicked me in the rear and left me flat on my face. But here I am, super excited about life, my business, and where I'm going and it is not hard times that are trying turn my head and change my direction.  It is the opportunity to have my old life back. 

So what was my old life like?  It wasn't bad.  I mean, we had rough times but it wasn't rough due to finances.  I wasn’t accumulating wealth but there was also no major worries.  It was rough times due to the rapid pace at which my family was growing.  Let’s face it, 3 kids 3 and under was TOUGH!  And I wasn't the one staying home as their primary care provider.  Lindsay was!  But there was little stress due to finances.  I went to my job which I did enjoy, came home, forgot about the job and dealt with life's other problems.  As long as I felt I was doing my very best at the job it really didn't affect me if my employer was or was not performing well.  Sometimes I miss this peace.

So what is life like now?  I absolutely LOVE what I'm doing!  I feel almost like . . . a cowboy!  I know that sounds crazy and your most likely laughing, but hear me out.  I feel like I'm on a new frontier, blazing a new trail!  I have an amazing family heritage and legacy with many entrepreneurs including my father, both my grandfathers, and at least one great-grandfather.  But what I'm doing wasn't handed to me by my family.  Don't get me wrong, my family has helped me TRAMENDOUSLY!  But I'm breaking new ground and its fun!  I have the satisfaction of building something, watching my efforts produce a real result, and experiencing rapid growth!  But even though there are days when the sun is warm, the grass is green, and fresh air fills my lungs as I watch the cattle graze, there are also days when it feels like my fields are on fire and the whole herd has have been stolen.  I hope my analogy make since!  I am convinced, however, that I'm where I'm supposed to be.  I'm on an adventure!  And I can't help remembering that my Pawpaw Lawrence (my mom's dad) used to call me Daniel Boon.  I think it was prophetic!  I think I am a trail blazer!  Hopefully in more than one way!


UPDATE!

WOW!  There is a lot to update you on! 

First, here is a quick update on the duplex we signed the contract on back in January.  Remeber, my First Deal of the Year!  The below video was taken earlyer this month (Early March).  You can see the difference a little work can do!  The property is now completed and rented. 

Second, how am I doing following The Plan to achieve the Goals I set for this year?


Goals # 1 and 2 (Earn an additional $25,000.00)

I've made some progress in this area!  We were able to find an investor to help us refinance the property on McDowell Ave!  After the refinance and the work was complete, we had approximately $12,000 left over!  We tithed $1200, used $4000 to pay off debt, had an oil furnace go out which cost us $2,000 to replace, saved $3000 for a rental remodel coming up, and used about $2800 to help pursue more investments, buy a new computer, and invest in some educational resources.  All said and done, we only reduced the $25,000.00 by $4000.  But, the rental remodel and oil furnace were projects which I'm happy to get done with cash and continuing education is always a must! So I have a smile on my face!

Additionally, we got a contract on the last "flip" house we had left.  In 2010 we rehabbed 5 houses and sold 4 of them leaving us with one house to sell.  That last house is now under contract!  We got our full asking price, but we have to wait for closing.  We are guaranteed to close this year, but it could be as late as December. 

Updated Goal (Earn an additional $21,000.00) 
Time Left - 9 months

Goals # 3 and 4 (Additional $2000/mo. in passive income including an apartment building)

I have to admit this is where the majority of my time and effort has been spent.   To accomplish this goal I need to do 1 deal per month and each deal needs to net at least $100/mo. in cash flow for me.  This is in addition to obtaining an apartment building.  This has not been easy. 

January Deal - 916 Jamison Ave. (Seen in the video above) - $100/mo. Cash Flow.

February Deal - Yikes I didn't get one.

March Deals - in March I had to make up for February and do two deals!  Thankfully God blessed me and I've got them "in the bag".

Deal 1: 807 Gilmer Ave.  - $120/mo. Cash Flow
Deal 2: 1627 Staunton Ave. - $130/mo. Cash Flow (Buying this house for 1/4 its value.  After repair will have about 1/3 its value invested into the property!  So cool!)

Also as part of these goals I need to add an apartment building to my portfolio!  Here is my progress:

I have identified my local market (New River Valley and Roanoke) as well as Atlanta, Ga. as markets to begin my search and I have selected commercial realtors in each of these three markets.  Atlanta excites me more because there is more distress in Atlanta and for that reason prices are much more depressed.  Rents are also depressed but not to the same degree as the prices are. On average I have looked at at least one potential deal per week.  I've been twice to Atlanta "deal hunting" and once in Roanoke.  As a result of all my hunting, I have made one offer on a building in Roanoke which is now a dead deal and a second offer on a building in Atlanta, Ga.  The offer on the building in Atlanta was recent, so I'll have to get back with you about what happens!

Updated Goal (Additional $1650/mo. in passive income including an apartment building)

Goal #5 (Asset Protection and Structuring)

No Progress

Goal #6 (Family before Business)

This is such a struggle.  It's a struggle because I don't know how to measure my progress and I never feel like I've spent enough time and effort meeting this goal.  I've worked many late nights and weekends that I would have loved to spend with family!  But, building a business requires LOTS of time and effort!  Lately I have really subscribed to a quality vs. quantity approach.  I'm at home a lot, working.  So in reality, my wife and kids physically see me more than most families see their dad/husband.  But, the majority of it is not quality time because my focus during the business hours and even a lot after business hours is on the business.  But when I'm not doing business, I try to give my wife and kids quality time. 

One major success is seeing my two oldest, Isaac and James, accept Christ into their hearts in the last few weeks! 

Goal #7 (The Point System)

Alright, time to be honest.  I have totally not kept up with the point system.  But, in my defense, there is a reason why.  James broke his leg and could no longer earn points due to his temporary disability.  It did not seem fair to me to allow the other children to earn the rewards and James not even have the ability to do so.  Or, vice versa, to reward James just for the sake of rewarding him when he did not earn that reward though his effort. 

But, last week James did have his cast removed.  I guess it’s time to get back to it!

Goal #8 (Lose Weight – 20 lbs.)

I made some real progress in this area!  I lost all the way down to 185 lbs.!  This was within 10 lbs. of my goal!  Unfortunately I think I have gained 2 lbs. back.  So, I have 12 lbs. left to go!  All my progress was in the month of February.  My 2 lb. gain has been in March.  I need to turn that around and start losing again!

Updated Goal (Lose Weight – 12 lbs.)

Goal #9 (Deeper Relationship with God)

All I can say is, to God be the glory for all the above success!   I am in His hands!  My peace comes from His provision!