How to add to my portfolio?

Question

I would like to say Hi to everyone! I am new to the forum. I live in Lancaster, SC about 30 minutes outside of Charlotte, NC . I am 26 years old with four rental properties 100% paid for currently netting around $2500 a month. I have a background in single family rentals as my parents and grandparents have around 20 single family properties. I currently have a job make around 100k a year and liquid funds around 100k. I am wanting some advice on where I should go from here and how I should invest the 100k. Any advice would be greatly appreciated!

Jaron Walling · Answer

@Brandon Miles  Congrats on the success at such a young age! If I had to guess you sitting on nearly half a million dollars and it's burning hole in your pocket. With that kind of money the sky is the limit. Don't forget it's important to have balance and to give back. I hope donating becomes important to you over time.

You're already successful at single family but I see the portfolio shifting to multi-family. You could cash out some properties and start the next chapter. At 26 years old I'd pump the brakes from time to time. You don't want to be burned out on real estate investing by the time you're my age (33). The long game wins in this industry.

Best of luck.

Kenneth Garrett · Answer

@Brandon Miles

Congrats on your early success.  You are miles ahead of the game.  You were brought up in the industry so some of this is second nature for you and a great support group (family).  I would pick your strategy; SFR, go to multi units and so on.  There have been many successful investors in both arenas.  To go to the extreme Warren Buffets group Blackstone/Invitation Homes owns over $80,000 SFR.  So much for saying the SFR is not a scaleable plan, but it doesn’t hurt to have access to millions of dollars maybe billions.  Find your path and a goal.  If you go the SFR plan how many is enough.  20 homes that cash flow $350/month, that almost replaces your current income.  Your in a great position go steady and methodical so you don’t burn yourself out as @Jaron Walling stated.

Good Luck.

Shiloh Lundahl · Answer

@Brandon Miles How did you get your first four properties? You could do more of that if the strategy worked.

Dennis M. · Answer

Cash out refi - brrr method

Dead equity is dead .. bring it back to life

How to add to my portfolio?

Most Popular Reply