I live in Grand Rapids, Michigan, and I’ve been investing in passive real estate for about the past four years. I’ve been a sales rep in multiple industries over the course of my life and most recently, I was in medical device sales. Obviously, the pandemic switched my mindset with regard to my income.
We started getting into some single-family homes, investing in our local market like that. But it was very hard to scale, and I didn’t want to hire a property management company and have them take rent-up fees and all of that. After acquiring three or four properties and listening to some podcasts, I got into multifamily because I felt like I would still get the passive cash flow without the headaches of the management side of things. So my wife and I started investing in multifamily properties about 18 months ago, and we’ve been very happy with that.
My goal with passive income is really to free up my time. I don’t want to trade my time for money anymore, and I saw the passive real estate market as a way to really achieve that. I had been investing in the market through stocks and day trading, and what I found after doing that for about 18 months is that my anxiety was up and down every day. Honestly, my hourly wage was not that high because I was always looking at it and never selling, and then never knowing when to get in, when to get out, that kind of thing. So the passive income route with multifamily has taken a lot of stress from my life while providing monthly and quarterly income for my family.
I’ve worked with a couple of different syndicators over the past 18 months, and they all have different business models. What I really enjoy about Invest on Main Street and Patrick is that he’s always there to pick up the phone. I’ve texted and called him for advice and he’s given me people in his network to contact as I learn more not just about the passive income side, but really the tax side of multifamily investing too. I’ve accumulated a lot of retirement funds and wanted to use those in my passive income stream, so I really appreciate that I have two different properties with Invest on Main Street. What I like about the first one is that it pays me every month, so it’s a constant, consistent monthly income. The other property that we invested through our Roth IRA is about ready to sell with about a 30 to 35 percent return in about eight months. I’m very happy with Invest on Main Street, and very happy with Patrick’s responsiveness in educating me—really just everything about working with him.
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