More info on rental properties

[Chris Kendrick]

I was just wondering how are people buying 2 to 4 rental properties a year, i was just thinking, lets say i got 40k to put down towards a property, that will include down payment and closing cost etc.., after running numbers on a property, the profit i would make , lets say is $300 a month after everything is deducted right, now where do a first time beginner go from here, i have no more money to buy another property in 3 to 6 months cause i just used it all, and it would take me over 10 years to recoup that money back. So how are people buying 5 to 10 properties in 3 to 4 years, i am talking about a conventional loan, not fha or house hacking cause i already have a house, thanks

[Nicholas L.]

@Chris Kendrick

There are too many answers to cover this in a single forum post.  You are right that the cash flow from an individual property is unlikely to support paying for additional properties.  But there are lots and lots and lots of ways to either add value or bring in other cash or even just pay for properties with other income, like from a business or W2.

One small example - I'm in the process of completing a BRRRR. Buy below market, rehab, and then aim to get 100% of your cash back out via a cash out refi. Then repeat. This is slow, but I like doing it.

Take a look around the forums and read up.  Or ask questions here.

And just because you already have a house doesn't mean you can't house hack.