200 Units in 10 Years!

My new goal:  Acquire 200 Units over the next 10 years.

At $100 per unit cash flow, 200 Units will provide me with $20k per month cash flow. This is more than I make right now, bit it is my living goal to make that amount. In 10 years I’ll be 43, and how many people do you know are completely financially free by their mid 40’s? Of course it would be awesome to have financial freedom earlier, but the reality is that I have plenty of time and health to enjoy financial freedom in my 40’s

2015 - 4 Units.

I should be able to refinance my property in Sacramento for some capital to buy my first unit by April of 2015. My goal is to buy a duplex in Indianapolis or Kansas City that cash flows at least $150 per door. I expect a Duplex to cost about $70k-$80k in Kansas city, and planning on working potentially rehabbing and back-out financing to do this with as low a down payment as possible, my goal is only $10k or less down payment for the property.

2nd Duplex later in 2015 around October. I will have to save all my cash flows and income to be able to do a similar deal as the Spring deal in the Fall of 2015, putting down about $10k in down payment to buy a $70-80k Duplex.

2016 – 5-Units, my first small Multi

In 2016 I plan on looking for my first 5-unit building, probably again in Kansas City or Indianapolis, but it depends on market at that time. I estimate this will probably cost around $200k ARV. My plan is to try for creative financing to only have to spend $20k or less on this acquisition. I may not be able to count on refinancing my KCMO properties as they may not have appreciated in value enough for refinancing at that time. Combined cash flow and savings goals will have to put $20k in available cash for this transaction.

So that’s 2 years in and 9 Units. That leaves a big gap, but I expect that after those two years more opportunities will start to show up and I’ll be able to acquire property in creative ways that I might not be able to see at this moment. Have you traveled a similar path? What have you experienced on your journey? I would love to hear from you, comment below!