Adam’s story

Posted on: July 11th, 2017 by , No Comments

Adam’s story, written from his perspective

I’ve been interested in real estate my whole life.

My grandma told me about some successful real estate investments that she and my grandpa had long before I was born. (She still owns a condo that she rents out every month).

My father has owned rental real estate my entire life, starting with one of my earliest memories (around 5 years old) of me talking to the tenant in the duplex he owned.

He still owns 4 investment properties as of this writing.

As a young child and early teenager, I was enamored by the whole “life” of real estate.

I, of course, at the time, didn’t understand the nuances or what was involved. I just knew I wanted in.

Fast forward to years later….

I had three children. Two marriages in.

I became a real estate investor because I learned to play poker.


No joke.

Actually, my wife (at the time; we have since divorced) (her name is Karrah) taught me to play.

Good ole Texas Hold ‘em.

I really, really fell in love with the game.

Played it as much as I could. (Wasn’t really good at it, but really loved it).

Hosted games at my house; lots of them.

THEN, A LEAKING TOILET CHANGED MY LIFE…
It was during one of these tournaments that a player came back from a break and told me that the toilet was leaking.

I went in and turned off the water; went back to playing the tournament.

We went into the bathroom the following morning, pulling back the linoleum.

Black as night with mold, covering a great deal of the area around the toilet and by the sink.

Evidently, the toilet had been leaking for quite some time, which caused massive floor damage.

I shook my head to myself, thinking that this repair was going to be quite expensive.

I called my good friend Dave to ask for contractor recommendations.

(I had been friends with Dave and his wife for a number of years at that point. We met them playing poker).

He told me that he could guide us through fixing it ourselves.

So, we took him up on his offer.

It took a little over 3 days, if I remember correctly.

We pulled up the linoleum, took out the toilet and sink and ripped up the sub-floor.

We laid a new subfloor, backer board and tile.

We installed a new toilet and new sink.

And, amazingly, we had a brand new bathroom.

Dave left after it was all done and we stood there, amazed by what had just happened.

WAIT, WHAT JUST HAPPENED?
It was at that point that Karrah and I had the realization that if we could do that, we could flip houses.

We asked Dave and his wife if they would be interested in joining forces to flip a house.

They said yes, and we were off to the races.

By June of that year (2015), our little company had purchased the first property.

3 bedrooms. 1 bath.

It had major plumbing issues; HUD foreclosure.

We were able to get it for $45,000.

We did all of the work, and it was great.

I didn’t know how to do anything (I’m a computer guy by trade), but I could demo the crap out of everything.

I pulled up carpets and flooring, took off doors and cabinets, ripped up tile.

I could turn a screw and use a hammer. I could do yard work like a beast.

I just didn’t really have the skills to finish everything.

My partners made up for all of that.

We were able to turn that house into a work of art.

We listed the house on the market. The first couple that walked through the house put an offer on it, which we accepted.

And, we were off to the races. having proof of concept.

BUT, I DON’T WANT TO PAINT AND TILE FOR THE REST OF MY LIFE…

Something in the back of my mind though, was bothering me.

I knew at that point I wanted to do real estate investment, as a job, for the remainder of my life.

But, I also knew, I didn’t want to swing a hammer, or paint a wall.

I wanted to learn how to flip houses, and do real estate investment, without doing the manual labor.

So, I bought some training (in late 2015) to show me how to do that.

It was pretty expensive, and there was a LOT to know, but I got through it all.

I ended up doing one more house with those partners. Karrah and I also purchased a house that we used for a rental, but I quickly discovered I did not like being a landlord, so we sold that house.

That last flip, though, turned out beautiful as well.

A lot of lessons along the way, which I brought into my new company.

A NEW ERA…

That background brings me to this year (2017).

I started a new company (PR Properties Group LLC) with Tanner Parkes.

My intention was to start a flipping business where I, or any of my partners, NEVER had to actually pull up carpet, lay tile or paint a wall. My intention was to direct the work of the contractors.

I am writing this on the 11th of July.

From January 1st of this year to the 11th of July, here has been our results (I will blog about it in more detail in later blog entries):

We purchased and sold (through a wholesale) a house, netting a healthy profit.

We purchased a 3,800 square foot house in Charlestown, IN. That is currently under escrow to be sold on August 10.

We own a house (actively being rehabbed) in Pee Wee Valley, KY. That has been pre-sold and will sell very quickly.

We own a house (fully rehabbed) in English, IN. That is on the market to be sold.

I am making my dream happen, with the help of my friend Tanner.

I am very grateful for all of it.