225 Replies

Originally posted by @Brandon Penn :

I just hit one of my major life goals of owning over 100 units! I just closed a 70 unit deal which puts me at 118 units total. The reason I post this in the starting out section, is it is important for anyone just getting started that it really does start with that 1st deal. I got my start in 2013 by renting out my residential home instead of selling it when I moved. I hadn't thought about becoming a true real estate investor at that time. I just wanted to buy residential homes and rent them out when I moved so that when I retired I would have a little extra income coming in. From there I realized how much I enjoyed being a landlord and thought about maybe doing more than just a couple properties. Fast forward to today and I now have over 100 which has been a major life goal for me for the last 3 years. This allows me the option to quit my job if I ever decide to, as well as secure that I will be able to retire by the age of 45. I'm not where I plan to end up, but this is a huge step forward for me. When people think of success or wealth they see the fancy cars, big homes, and amazing vacations. They don't realize all the time, most of which is unpaid, sweat, and tears that goes into becoming successful/financially independent. They don't realize the sacrifices you have to make with friends, and family. The sleepless nights of wondering how the heck you are going to pay for all these bills starting pile up. My advice to new investors is to just keep pushing through. Make sure you are educated with what you are doing, and just keep moving forward. Eventually everything falls into place as long as you don't give up!

 That's awesome! I'm glad you posted about this milestone. I'm going to buy my first property this year and your success is great motivation for me to push forward. 

@Brandon Penn This is great motivation. 24 years old with 6 units after I sold 2 units off and loving it. This age group has a lot of distraction and friends that can kill your motivation, but this is a great help to spark the fuel to keep going. Congrats on this accomplishment!

@Brandon Penn Congratulations, Brandon! That is a major accomplishment and definitely, love to hear about fellow BiggerPockets members success (especially as someone who is new/just getting started out, I really do value this advice). Just a few questions for you— 118 units is a lot of units, so what strategies do you implement to make managing your rentals easier? Any tools you'd recommend? Persistence really does sound like it was the most fundamental part of this success, but what were some of the other important parts of your process as you first got started? 

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