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Updated almost 7 years ago on . Most recent reply

User Stats

32
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22
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Andrew Pfleger
  • Rental Property Investor
  • Alton, IL
22
Votes |
32
Posts

how to jump in to the deep end...

Andrew Pfleger
  • Rental Property Investor
  • Alton, IL
Posted

I've listened to quite a few podcasts and have been intrigued with most of them. The ones that really get the blood flowing are the ones like "298" where the purchase happens to be a large number of units.

I still feel like a newbie but I'm a 100 mph type of person. Currently my partner and I have acquired 45 units (just shy of a million in total real estate) in less than 2 years and we're building solid systems and allowing the dust to settle. 

I guess I have a multi-faceted question... where do I find the listings that are more than 10-15+ units? I'd prefer to stay somewhat local vs investing in an unfamiliar area of the country. Or should we branch out and look for properties that are long distance? And finally, should we keep up this pace or should we relax? 

  • Andrew Pfleger
  • Most Popular Reply

    User Stats

    922
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    533
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    Jim Goebel
    • Real Estate Investor
    • Des Moines, IA
    533
    Votes |
    922
    Posts
    Jim Goebel
    • Real Estate Investor
    • Des Moines, IA
    Replied

    @Andrew Pfleger

    There's been multiple threads about goal setting, and I'm picking up you're in that mindset where you're thinking about units.  That's how you're framing stuff.  I'd encourage you to shift more towards more tangible 'bottom line' type of goals, or value/meaning type of stuff.  

    I'm a little confused by the statement that you're at 1 million in real estate with 45 units.  That's, $22,000 per unit?  It's hard for me to wrap my head around that.  How much are they producing in income?  Just seems a little wacky!

    I think it's going to be hard for people here to provide meaningful recommendations or thoughts with the info you've provided.  Can you give everyone a feel of what you're dealing with?  What are your biggest challenges?  Do you need any kind of lifestyle change(s)?  Are you learning what you want to be learning?

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