Advice on how to acquire 2-4 cash flowing properties each year?

[Cheza M.]

Hi BiggerPockets Community,

I'm a newbie investor who lives in a very expensive market here in NY and has a full-time job. I've recently bought a SFH turnkey property from out of state last year just to get into the RE game since I've been stuck into analysis paralysis. But lately, I've been thinking that I wanted to do more than just investing on TK properties and had recently set a goal to acquire at least 2 cash flowing properties each year. The only problem is that I'm not so sure how's I'm going to do that or what to do next. You see, I'm a very disciplined and persistent person. If I could only get a clear idea of what to do next or what I should be doing now, I know that I will stick to it until I get my desired result, as long as I know that what I'm doing is bringing me a little closer to where I'd like to be in the future, which is financial freedom just like everybody else. I'm open to the idea of both active and passive investing, I just really need some guidance.

Would you care to share some of your knowledge or experiences when you were just starting out, and was probably on the same boat as I am now? What did you end up doing that made you successful now? What would you suggest that I do next if you were me? Your advice, knowledge and experiences are much appreciated! Thank you so much in advance!

[Andrew Freed]

@Cheza M. - I can relate. I have very much the same goals, acquire two cash flowing properties each year for the next 10 years and obtain financial freedom. The strategy I am currently employing is to house hack a multi each year and buy a multifamily investment property each year, be it a syndication or a local piece of real estate. I am doing this via a few different methods:

1. Utilize low down payment owner occupied loans to get into a new multi each year. FHA is one option, VA is another. I am currently planning on utilizing a small credit unions 5% down conventional product since I already used my FHA loan.

2. Obtain a HELOC on each property I owner occupy prior to leaving to utilize the equity in each property to scale. They offer up to 100% HELOCS.

3. Along with having a strong W2, look for ways to increase earning such as a side hustle. I am currently a real estate agent.

4. Network with syndicators - You can get into cash flowing syndications for as little as $25K which return close to 13-15% annually as well as monthly or quarterly cash distributions. For a non accredited investor like myself, I'm only eligible to invest in a 506(b) fund. As a result, the syndicator needs to be in my network for me to find out about the offering.

5. Daily Discipline - Each day, spend at least 2 hours on self care and self improvement. The miracle morning is a great option, but have a daily routine of becoming a better version of yourself every day. 

6. Pick a Niche - Find you're niche and let everyone know that's what you do. For instance, I focus on 2+ multi's in Worcester MA. I feel like when you focus on becoming an expert about a specific niche in the market, opportunities tend to come to you. 

Those are some strategies I've used that's had success. Good luck on your journey!