Eight months ago, I had ZERO rental units. A friend of mine who, is the epitome of "more b*lls than brains", took out a HELOC and bought a rental unit. After seeing him fail miserably, I decided to try my hand..
As of last week, I had 4 units Bought, Rented, and Refinanced (BRRR) and in the last week I put 5 more units under contract, a SFH out of foreclosure and a 4-plex in a solid neighborhood. My initial goal was to get to 10 units, but now I keep hearing Grant Cardone's words from the podcast and I'm changing my goal to make it to 100 units.
I'm fortunate to have found this website to ask questions and research literally hundreds of other questions that I come up with. Also, the podcast has been my salvation as I'm in sales and drive pretty much all day every day. Some other key relationships have been my banker (googled portfolio lender and found a guy relatively easily) and my broker, who will look at properties while I travel on business.
I'm pretty pumped about the last week's action and I'm setting my goals 10X higher!
Congrats! I to love the 10x Rule by Grant Cardone. I have listened to that audio book at least 5 times. 10x everything!
@Kevin D. sounds like amazing progress, congrats!! Are you staying with single family or going to apt buildings with your 100 goal?
Congratulations on your success! Keep it up!
@Joe Fairless To get to 100 units, I'll definitely need to start setting my sights higher than 4-unit buildings but they will serve for now.
@Kevin D. sounds like a plan - go with what works until it doesn't anymore!
Really cool Kevin. I just started, submitted my first offer this week.