Four Day Investments
Teaming Up to Provide Housing for Travel Nurses
- Build wealth through ownership
- Experience & learn together
Today we're gonna find out what happens when two firefighters link up with an experienced real estate investor. All that and more on today's episode.
Chris, so you kind of introduced Tribevest to everybody and real estate investing as a whole.
When I when I got in I sort of went and I jumped in with both feet got you know, bought like a couple of apartment buildings and a bunch of single family homes. So got about 70 units or so before the idea of investing together with friends on projects, sort of, I don't know, coalesced. Then it was sort of funny. I mean, I introduced I think I recommended tribe best as a way for people to invest together to Jeff and then Jeff talked to Kevin about it. They took off they're just like, let's just do this.
Jeff and I worked together as firefighters and I was working a shift with him one day. And at the beginning of the shift, he said, by the end of this shift, let's buy a property and start an LLC and I said, I’m in, let's do this. Neither one of us really knew where to go from there. But Tribevest kind of gave us a little bit of a path and a foundation to start that so but in the shift we had the LLC created through Tribevest, but two weeks later, we did have our first property.
Oh my gosh, wow. Are you all in California? Everybody's in California. So what made you want to invest over here in the Midwest?
I mean, duplexes where we live would be 1.5 million. From a cash flow perspective, it's really, you know, we're trying to follow her primarily a BRRRR strategy. So because of that, the numbers just makes so much sense in the Midwest.
Oh, yeah, you mentioned the BRRRR model. For those that don't know the BRRRR model is an acronym. It's Buy Rehab, Rent Out, Refinance, and then Repeat the process.
What's the next step for your tribe or for future tribes as you might start?
You invest in the market, you know, and Kevin and I are both firefighter paramedics and interact with nurses quite a bit in emergency rooms and was hearing about traveling nurses doing three month contracts and looking for housing in different areas. And really having those interactions with the nurses and kind of understanding what they're looking for. It's like, that'd be pretty cool to provide a safe, comfortable home environment for these nurses that are working so hard day and day out.
And Cleveland is sort of a perfect storm for that because Cleveland's main industry is health. It's funny and a funny coincidence, and maybe one reason why we get along like I grew up around firefighters as my father was a firefighter.
Firefighting our passion. We're fortunate enough to get into that profession. It's a way of life. Versus a career and it's amazing.
Every call we go on we go as a crew and everybody has a job on that crew, and I think we've so far done a pretty good job of bringing that over into our investing. You know, Chris has his roles. Jeff has his roles and I have mine. And there's a level of accountability where we don't want to let each other down.
I've been doing it just by myself for a couple of years. And it was satisfying in a way but like not being able to share those like victories like last night, like total, you know, toasted a beer together over, you know, kind of the growth that we've had.
I think our primary focus was, we want to have fun in doing this. Like, yes, we want to make money and yes, we want to hold each other accountable. But first things first, we want to have fun.
Give me some insight on how you feel Tribevest has helped your investment journey?
It kind of gave us some boundaries and helped us formalize our LLC. By actually setting up the LLC and pooling our funds together. It's kind of like well now we need to buy something. It changed it from let's talk about it to Let's actually put this into motion and get a property.
The most difficult part of a project like this, particularly a partnership is where do you start. Groups of friends getting together? We don't have a lot of investment background. I think it's it's it's almost essential. It cuts the amount of time as they said, I mean, what would have taken weeks and weeks of talking to different people and trying to you know, carve out, you know, little chunks of information, what's real and what's not. Something like Tribevest is basically essential.
With the speed that Tribevest was able to move, being able to, you know, invest all this money with this platform that you just learned about. What made you feel safe in doing that?
By just researching your guys's platform and kind of reading through some of the testimonials. You gave us the confidence that we needed. As far as the speed that tribe best moved at. I think it was more beneficial and validating than anything else because we wanted to make this happen quicker.
It's been a pleasure getting to know you all thank you so much. We appreciate it.
Wow, that was a great story. I really want to say thank you to those guys for their time and sharing their story. Also just a special thank you to Kevin and Jeff and all the first responders all around the country for all your service. Make sure you like and subscribe to this channel to see even more amazing content.
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