Justin Gottuso
OP
Rental Property Investor · Columbus, OH · Member since 2015 · 184 posts · 162 votes
6y
@Eric Martel
Ding ding ding. First goal is financial freedom for my family. From my early research seems like I’ll need about 40 units so my family is well cared for via cash flow (200k per year). Is that in the ballpark? Trying to clarify what I’ll need to acquire to reach that goal ultimately, then to get to know people who have ‘made it’ there and can help me see holes and blind spots so I can smart about it.
0 Reply
Justin Gottuso
OP
Rental Property Investor · Columbus, OH · Member since 2015 · 184 posts · 162 votes
6y
@Tony Kim
Ugh. LA (where I currently live, moving to the Midwest next week). Rapid appreciation is clearly happening in south LA (I told my dad countless times over the past few years to buy something in Inglewood). But now there's nothing in LA below 600k and paying cash for properties in the Midwest that cash flow just seems like a much better play, and less financial risk. But I also like ADU's and think there's a rapidly growing market to add cash flow to single family homes.
0 Reply
Justin Gottuso
OP
Rental Property Investor · Columbus, OH · Member since 2015 · 184 posts · 162 votes
6y
@Arnold Gordon Sr
Thanks!
0 Reply
Eric Martel
Rental Property Investor · Fort Lauderdale, FL · Member since 2015 · 64 posts · 38 votes
6y
@Justin Gottuso That sounds about right since you have dependents. So you will be better to do a combination multi-family and single family otherwise you will hit the 10 mortgage limit if you do single family rentals only. You could do portfolio loan on SF rentals as well but I haven't found a good lender for that.
0 Reply
Justin Gottuso
OP
Rental Property Investor · Columbus, OH · Member since 2015 · 184 posts · 162 votes
6y
@Jason Yarusi
Thanks Jason! Yes:
1. Enough rental property income to replace my wife and my income so she does not have to work/so she can CHOOSE to work or not and so I can spend more time investing and doing creative and community work
2. Teach my kids about money and investing and give them viable work opportunities as young adults (when they get there in 20 years lol. Technology is changing and disrupting almost all industries and yet people will always need housing even if robots are doing half of our jobs)
3. Then expand and go beyond my own family/community and have hundreds of thousands per year (millions if I’m honest but still working on being ok having that much money) so I can GIVE considerably to charities I believe in, awesome start ups and friends projects, as well as self fund my own businesses and creative endeavors
So... I’m looking for one or more RE pathways that can get me to my first and third goal (second is parenting and mentoring driven)
Anymore thoughts for me now that you know my goals? Thanks!
0 Reply
Theresa HarrisPro Member
Member since 2019 · 15k+ posts · 11k+ votes
6y
Originally posted by @Justin Gottuso:
@Theresa Harris
First goal: financial freedom for my family via income properties replacing my wife and my incomes/250k within 10 years, but ok if of takes 20, I’m 34. But then the bigger and more important goal is to grow to much more than that over time so I can GIVE considerably to charities, start ups (especially social cause ones) and self fund my own creative ideas/imagination within healthy limits/hence having our incomes being replaced first. Then teaching my kids and nephews about the business so they have a solid foundation to begin their careers/to learn principles of finance and RE.
What are your goals?

Mine is to retire in 10 years (I'm a bit older than you). I plan to have most of my rentals paid off in 5 years and the other shortly after that. I can then use the rental income for retirement...or sell one and use that money or buy another.
0 Reply
Trent Ecklar
Real Estate Agent · Columbus, OH · Member since 2017 · 203 posts · 170 votes
6y
@Justin Gottuso buy 15 $100K duplexes or one 30 unit.
0 Reply
Andrew Shevchuk
Real Estate Agent · Ooltewah, TN · Member since 2016 · 6 posts · 6 votes
6y
If you never invested in RE before, I would take the 50k and learn how to make money in RE with it. Learn the principles. It's like the stock market, if your 1k investment can make you 10%, you scale using your principles.
0 Reply
Remington LymanBusiness Member
Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
6y
Originally posted by @Justin Gottuso:
@Jaron Walling
Thanks for sharing! Yea, I’m thinking of diversifying beyond RE, keeping solid emergency fund and keeping our own expenses low, then save as much as we can (leaving Los Angeles for Columbus, Ohio and looking forward to less chaos and stress so we can focus on our family and learning about RE and building wealth over time)
But then also keeping x amount for investment properties. I like the idea of paying cash for one or two properties in the 50k range and growing from there. Or put it all down on a larger multi family, maybe with some partners. Still exploring options and gleaning from other people’s wisdom :-)

Buy a property with cash in Columbus finance on the back end. Repeat until you run out of money.
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0 Reply
Zeke Liston
Real Estate Agent · Columbus, OH · Member since 2018 · 1k+ posts · 1k+ votes
6y
I would buy several properties in Columbus, OH @Justin Gottuso!
0 Reply
Justin Gottuso
OP
Rental Property Investor · Columbus, OH · Member since 2015 · 184 posts · 162 votes
6y
@Remington Lyman
Thanks for sharing! I’ve been researching Columbus :-)
2 Reply
Justin Gottuso
OP
Rental Property Investor · Columbus, OH · Member since 2015 · 184 posts · 162 votes
6y
@Zeke Liston
Thanks for sharing. I’ve been researching Columbus :-)
2 Reply
Ashleigh Leach
Rental Property Investor · KY · Member since 2018 · 25 posts · 33 votes
6y
@Justin Gottuso
I think it’s very possible. With my first apartment building (11 units) I put down about half and the bank did the rest. I’m under contract now for my second (24 unit) apartment building and I’m using houses I already have as collateral and they are rolling those into the same loan as the apartment building. So I’m not using any actual cash at all. I think it depends on the value of what you’re wanting to buy and what you have already and what it’s worth to the bank.
0 Reply
Caleb Brown
Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
6y
I always lean towards value add multi family or SFH packages.
0 Reply
Account Closed
Rental Property Investor · Canton, OH · Member since 2017 · 1k+ posts · 1k+ votes
6y
@Justin Gottuso
Move to the midwest, invest in real estate and retire off it.
0 Reply
Justin Gottuso
OP
Rental Property Investor · Columbus, OH · Member since 2015 · 184 posts · 162 votes
6y
@Caleb Brown
Hi! I've seen some SFH packages and thought could be good. Any tips on dealing with sellers of a package? Things to avoid/watch out for? Thanks for sharing!
1 Reply
Justin Gottuso
OP
Rental Property Investor · Columbus, OH · Member since 2015 · 184 posts · 162 votes
6y
@CJ M.
I’m moving to the Midwest next Monday ;-) and plan to invest there over time
1 Reply
Caleb Brown
Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
6y
@Justin Gottuso they can be good. Analyze packages based on income not MLS comps. Have it contingent on walk through, get it under contract then walk through it.
0 Reply
Justin Gottuso
OP
Rental Property Investor · Columbus, OH · Member since 2015 · 184 posts · 162 votes
6y
@Caleb Brown
Awesome thank you! I lived in KC for a minute 10 years ago/rough part of 39th & Troost. That’s where I first had ideas/vision for investment properties. Now seems the areas I was interested in have blown up, in a good way.
1 Reply
Caleb Brown
Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
6y
@Justin Gottuso in definitely has grown. The A/B areas in KC used to be rough but Downtown and the Plaza has caused growth. Great opportunity in KC for investing though.
0 Reply
Parker Eberhard
Contractor · Seattle, WA · Member since 2019 · 339 posts · 325 votes
6y
@Justin Gottuso I have been buying art with some cash I have on hand.. may appreciate, may not..but it makes me happy every time I look at it
0 Reply
Justin Gottuso
OP
Rental Property Investor · Columbus, OH · Member since 2015 · 184 posts · 162 votes
6y
@Caleb Brown
Cool. I’ll keep KC in mind!
0 Reply
Justin Gottuso
OP
Rental Property Investor · Columbus, OH · Member since 2015 · 184 posts · 162 votes
6y
@Parker Eberhard
:-)
I believe ‘every view should be beautiful' in a home, and all the talk about ROI means sometimes aesthetics, the arts and serenity are missed.
0 Reply
Justin Gottuso
OP
Rental Property Investor · Columbus, OH · Member since 2015 · 184 posts · 162 votes
6y
@Ashleigh Leach
Whoa, you bring a really helpful perspective about multi family properties. Opens my mind to new ways of thinking about my investment strategy. Thank you!
0 Reply
Justin Gottuso
OP
Rental Property Investor · Columbus, OH · Member since 2015 · 184 posts · 162 votes
6y
@Theresa Harris
Awesome! I hope you reach and exceed your goals! How much income are you going for, what’s been your strategy on how to get there, where are you at now and what’s your next step?
0 Reply

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