Looking for a good stopping point for acquisitions.
The wife and I have been buying properties in a few smaller towns in central Nebraska for the last 5 years. We are currently working on closing our 30th unit. We have 5 duplexes and will have 20 sfh. Our average rents for the portfolio are $575 a month with $465 being the lowest and $775 being the highest. Our average price per unit paid has been around $37,000 all in counting remodels and such. I wouldn't mind investing in a large multifamily with management built in but those kinds of deals really don't present themselves in my market very often. We really have no viable options in the area for property management which is ok because this is my full time job along with running an rv park in the summer that we also own. I guess my question is whats next? We are having a bit of a hard time finding deals as good as we have found in the past however I am sure I could continue to find 4-5 deals a year but do not know if its worth the headache to self manage more than 30 units. We do not do any of the work on them, we hire everything out except for advertising and showing the units. Our vacancy rate is next to 0 due to the high demand in the area for affordable rental properties. Our area really doesn't have much of an appreciation play over the long term however though I believe. With the wife still teaching and after our campground/rental income we currently net around twice as much a month than we have in bills. We are 4 years into a fixed 30 year loan at 3.85 owing another $200,000 yet on our personal residence so I am not sure that it is worth paying it off early. We have around 40% equity across the board on our rental portfolio with ARM loans averaging 5.5% resetting in around 3-5 years on most of the loans which MIGHT be scary. We cash flow a conservative $3,000 a month after taking around 35% of total rents out for Vacancy, Capex, and repairs. I realize with my price point that Capex will eventually take a larger percentage chunk out of rents versus higher end properties. We have around 65% equity of our campground which is worth around 900k however we are only 50% partners on it with my parents. We will need to figure out a way to buy them out eventually or just sell the place sometime. The campground is 35 acres with a 10 acre private lake on it in the path of progress though and has a ton of potential so I hate to sell. We have 0 money currently invested in anything besides real estate and my wifes pension. Would it be smart to max out her no match 403b along with maxing out both of our Roth IRA's? I really feel that the stock market is over inflated right now and kinda see it as a ponzi scheme but on the same token do not believe that I want to manage 100 rental properties either. It really bothers me as well that we are only in our mid 30's and that if we max out the wifes 403b we wont have access to those funds for another 25 years. We are also considering the wife maybe taking a early retirement eventually but that would be down the road a good 8-10 years if it happens. As of right now she still likes her job and the health insurance is needed. Anyways, I am rambling and just thought I could get some good advice from others that might have been in our position at one time.