20 Years old bought 3 investment home with a full time job of 60+ hours weekly

69 Replies

As a new member to Bigger Pockets this is my first post about my self. 3 homes by the age of 20.... Hopefully 20 homes by the age of 25 as a goal.  Having a full time job in the transportation industry with a busy job of 60+ hours.

@Pavs Doychev
Originally posted by @Toots Mcgee:

good.   but can u be more specific about what you bought if your trying to impress.

Ok maybe he will maybe he won't. But to encourage him to do so could you please tell us what you bought by the time you were 20?

Okay, Sorry about the short post I posted, I was driving home from work last night listening to a BP podcasts, at some point Brandon Turner mentioned how important the interaction with other member is... so I figured I would at least start with my first post.  I've been a member so sometime now but never posted anything. 

Ill give you guys some information on what I have done the past year and a half.

My first house was purchased march of 2014.  4 bedroom 1 bath built in 1951 Got it on a short sale. My agent had this listing for about five months with no showings so I decided it was worth the drive to at least see the property.  THE PLACE WAS A DUMP!!!  end of story they had it listed for 29,000 they dropped the price twice in those five months to 24,500. So I put a outrages offer of 10K not really thinking I would get the house, two days later the bank accepted the offer and I got stuck with the home. lol  The roof, porch, siding, and interior had to get gutted, at this point still getting worked on.. The kitchen is left and the basement has to get sealed up.

House number two:

December of 2014 the house sat on the MLS for quite some time and the bank put it up for auction. 2bedroom 1 bath with a one car garage 719sf small thing. purchased it for 25,000 the rehab was 7000. Current rent is 750/m

House number three,

July of 2015 this property never hit the MLS. 3bedroom 2 bath with finished basement and a second kitchen in the basement. Got it for 30K almost move in ready condition, minor repairs. Rehab will be less then 4,000. Hopefully will hit the market by the 15th of this month. at 1000/m

Wow, those price to rent numbers are really impressive. If those rehab costs are really that low, you're definitely doing well, as long as it's in a decent area. The appreciation potential isn't going to be very high on such cheap properties, which is where the real wealth is built over the long run. (Example, a $250k house bought today will likely be worth $750k in 30 years when you're nearing retirement at 3% inflation per year, and it would be paid off which is nearly $1M in equity just one this one purchase). But if cashflow is the only goal here, that's definitely some solid passive income. The tenants might be questionable in such cheap houses though so do a lot of reading on BP on screening tenants.

Congratulations! I always use my 80+ w-2 job as an excuse so this was a great reminder that it can be done.  Would love to learn more about these properties (photos?) and look forward to following your success!!

“Where the determination is, the way can be found.” - Riches Man in Babylon

Pavs your numbers are impressive and you are setting yourself up with passive income for the rest of your life. i have a question regarding the 4bed 1bath you mentioned. I am assuming it is at least 1500 sq ft. A total rehab, even for a rental property, is minimum $25 per sq ft+. Add in contractor fees (currently 25%-40% of costs). I am assuming you are using a contractor due to your time constraints.

Therefore it sounds like the rehab would be $50,000 + $15,000 (30%) = $65,000, maybe more? Am i close? if you are not using a contractor, how do you handle such a massive job with very little time to manage the project?

Holy cow! If I could get 2-3% of the home value back in rent every month I'd be buying up houses too. I really question why people rent in these areas when you could buy for so much less than rent. And people complain about rents going up in Portland! 

If I could only rent my current house out for $7000/month! Good on you for finding a crazy market and buying into it at such a young age, I'm jealous. 

Great story.  How even 1 house is possible with a full time-job of 60 hours a week is beyond me.  Everything and anything will require multiple phone calls, mistakes from contractors, clarifications, etc.  And once you pick up the phone all off a sudden you'll have 5 people by your desk for work-related issues...and not to mention your boss who would love to know who's on the end of that phone call.  But hey.  That's my opinion.  As to your original post, congrats!!

@Pavs Doychev Thanks for sharing, always great to hear about successful investments. I'm curious how you financed the deals - any details would be great! 

And good luck with your future investments.


As a newer REI student still learning reading this is very impressive. So congratulations on this. I still have some reading to do and researching before I'm ready to attempt the jump. However keep the updates coming.

@Pavs Doychev Congrats on digging in and making things happen! This really hits home for me since my current 60+ hrs a week job has held me back from finding my first deal. I just assume that it's not possible to take on a flip, and so I am defeated before I even start. 

I am very interested to hear how you managed these deals while working full time. Sharing details could serve as the inspiration some of us need to get out of our own way...

Wishing you continued success!

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