How did you grow your portfolio?

Question

How are some ways that you were able to grow your portfolio to where it is now and how you will you continue to grow your portfolio in the future?

Bob Green · Answer

Hello Quentin,

I started by attending local real estate meet up groups where I met and networked with investors who shared their knowledge. At these meetings I also met wholesalers, and multiple real estate brokers who concentrate on investment real estate only in specific markets.  Through these sources I learned about the different markets and started to by foreclosed and distressed real estate through them.  I was fortunate enough to be introduced to one of the largest foreclosure brokers in Illinois and have acquired several properties through this firm too.  I have been using the brrrr method for years and have been recycling the same funds for the past 10+ years.   My network of real estate brokers, wholesalers, contractors and various lending sources have mostly remained the same.  I believe in maintaining loyal business relationships.

Currently I am acquiring buy/hold properties in southwest suburbs of Cook County(section 8) and in Will County.  I am looking to invest outside of Illinois - specifically in Indianapolis.  Before investing in this market I will be attending several real estate meet up groups in this area and align myself with solid professionals who live, work and invest in this market. Similar to the way I started in the Chicago market.  BP is a great source for building valuable relationships with real estate professionals in other markets as well.

Nathan Gesner · Answer

By telling everyone and their brother that I was in the market for investments. I talked about it constantly and kept my eyes open for every opportunity.

I've slowed simply because I have enough to keep me busy and am spending money on renovations rather than new acquisitions.

Crystal Smith · Answer

We started out playing Robert Kiyosaki's Cash Flow game with a group of like-minded wannabe investors.  Then we started playing the game for real by buying turnkey multifamilies. Then we started buying SFRs to hold. We decided we didn't like the turnkey (Bought them at too high a price) and couldn't stand when an SFR was vacant. I also didn't like having all our money in one small market.

So we changed our strategy- Sold the turnkey & the SFRs. Decided to only buy SFRs to flip, distressed MFRs to fix & hold & invest in state & out of state. Cash from SFRs to flip was used to support the purchase of the MFRs. For the out of state strategy, we established a network.  Did some deals on our own, others with partners.

I got a license. This also expanded our network and gave me access to resources the general public doesn't have.

Whitney Hutten · Answer

@Quentin Mitchell  I started off saving and when we were ready to get rentals it all scaled very quickly with Turnkey, MLS, and then BRRRR mostly...  Now I'm using the cashflow and equity from my SFR portfolio to scale into syndicated deals and lend.

John Teachout · Answer

Bought an SFR with cash savings, renovated and rented it and then purchased another one with cash and renovated that. Did that a few more times over a few years and we ran out of money. Got a HELOC on our primary and used those funds to help buy a few more SFR. We used some private money to pay off the HELOC and then sold some acreage to pay off the private money and that also funded our next SFR purchase. We're borrowing money for a duplex from our reserves and are looking at a few more properties that will require borrowing money from both private and HELOC sources to facilitate. Other than the HELOC, we don't have any mortgages on any properties but may do that to grow. We're only seeking cash flow as we're in our 60's and an equity growth plan looks less appealing than having spending money. REI is our full time gig for the past 3 years and we have no W2 or pension income.

JD Martin · Answer

I started off with one house for cash. Then another house for cash. Then I worked my butt off and rolled all the cash flow from houses 1 & 2 into house 3. ETC.

Account Closed · Answer

Hard work, live frugal, proving I can add value and not taking no as an answer  Just being a Do'er, really.

Crystal Smith · Answer

The turnkey multifamilies were duplexes. The flips were both in state and out of state.

Tim Harwick · Answer

@Crystal Smith Sounds like a great strategy! I'm curious about turnkey multifamily. Were those duplexes, triplexes, or were they larger properties? And were your flips in state or out of state?

Tim Harwick · Answer

Hey @Nathan G. So would you say you bought most of your properties by word of mouth, or did you acquire most of your properties by  looking on your own?

How did you grow your portfolio?

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