Thank you so very much for this post. Your story is incredible and inspiring. I am trying to get into small multi family now for retirement income. Stories like this make me more determined to do so as I am picking little nuggets of inspiration from every one I read. Keep up the good work!
AWESOME JOB!!!! We have the same "why". Super proud of you!! Thanks for sharing!
Thanks for posting your success! It inspires those of us just starting out!
@Julie Kern Very motivational!
Good for you for refocusing on your original goals! Its easy to get sidetracked and trust me I know...I'm the posterchild for that.
How are you finding opportunities? MLS, wholesalers, mailings?
The margins are so tight here in MA that you've got to go find the properties that work and ignore tempting listings.
I've been stuck in a rut since buying a great multi fam with separate storage that cash flows nicely and have been considering doing mailings.
Best of luck and God Bless!
I actually like these kind of success stories. Not quite there but still building and infrastructure and finding other ways to evolve
and improve. Thanks for sharing!
@Julie Kern Thanks for sharing your success story and your new goals! Good luck and looking forward to your next update on the 50 units
Thanks for sharing this part of your journey. Stay focused, remember to breathe.
Killer story, Julie. Thanks for sharing it.
@Somit Joe I don't think you're missing anything. On paper, multi-fam always cashflows better. People like to write blog articles and sell courses stating the same. Reality is often very different.
It's very market dependent. A well managed multi-fam, in the correct market, can and often will cashflow far better than SFH.
However, in some markets, SFH will cashflow better over time once you account for higher gross rents, lack of vacancy, higher quality tenant and lower operating costs.
*In my market, you can get all-in to SFH for $80k-$120k that rents for $1400-1700/mo and all expenses are paid by the tenant. Tenants tend to be young families that will be home owners in 3-5 years and plan to stay until then.
Multi-fam, you can get for $30-45k/unit, rents for ~$600/mo, but the owner pays for partial expenses and you deal with a worse tenant that may/may not pay rent, will run utility costs sky high and be hard on your unit.
@Julie Kern Great post btw.
Incredible story Julie! Congrats!
@Julie Kern congrats and keep up the good work.
Very inspiring! Best of luck, and thank you for sharing!!
@Julie Kern Congratulations on your success thus far. And more importantly, to change the paradigm if it isn't producing they way you expected.
Thank you for sharing your story! I have no doubt you will achieve everything you're focused on for 2019.
Cool story, and good luck with your 2019 goal! As a new investor, I love reading stories like these! Keeps me pumped up!
@Julie Kern That's an awesome inspiring story. I'm literally just starting to learn about REI, reading up, and trying to network at meetup events. I'm sure it's same for most people, but feels like I have so many questions for things I learn about. Thanks for a view of your ongoing success journey.
Good luck on the road to 50 units this year @Julie Kern
This is awesome keep us posted on the 50 units :)
Good work! Love your goals but more importantly, I love your why. No doubt you won't reach that goal. Much success to you and God bless!
Very methodically process. Congrats and thanks for sharing.
On this note: "My current biggest disadvantage is battling the wrong mindset and limiting beliefs". I feel I have the same wrong mindset and limiting beliefs as you have like I feel hard to scale up to 50+ units. Can you spell out a bit on what your discoveries? What materials (books, podcasts,etc) you found that really helped?
@Julie Kern thank you for sharing!! Congratulation!
@Julie Kern that's amazing to here keep it up!!
@Julie Kern Thanks for sharing this post and congrats on your continued success!
My favorite part about this is that you were able to identify the direction you were headed and adjust your course accordingly. It’s also great to hear that you have factored giving into your financial plans. My wife and I did the same and it’s awesome to be a part of something bigger than ourselves!
Many blessings to you,
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