buying tenanted properties 30 k and under

[Account Closed]

Hi All ,

I am going to be spending 150k on properties 30 k or under , my goal is to purchase 7 properties that are all cash flowing.

Once this is achieved I plan to take a loan against the value of these properties and do it all again.

Hopefully I'll be able to acquire around 10 properties bringing in around $400 each a month after expenses.

Please let me know if you think this is achievable?

[Gavin Welch]

@Account Closed , that is a common strategy to purchase then establish cash flow and then refinance to pull your cash out. If I understand you are purchasing $30k properties. Which provides great cash flow, but can have a ton of deferred maintenance from the previous owner or need a ton of rehab.

Be careful with the super cheap houses they can have a ton of problems. My advise is to carefully monitor your maintenance costs on each property. After a year or so then evaluate each individually. If one is a maintenance nightmare then sell it and get a little better place elsewhere.

Good Luck