Why do you have more than 100 doors?

Question

who has more than 100 units/ door rentals? How long did it take you to get there and what does it fee like?  Are you in an expensive market? What is your target; more or relax now and enjoy life ✌🏼

Any advise for newbies, take risk or try a few deals yourself before getting investors involved? How do you find leads? Did you have a full time job or business to fund the deals?

Thanks

Al

Austin Fruechting · Answer

I am at 141. Average rents in the $700 range. Recently, for some bigger portfolio deals I put together I did bring on equity partners/investors. I only did that after I had proven myself and really knew what I was doing. My ownership equates to 88 of the 141. It took 7 years from the first one.

I've been without a day job for 2 years and my wife has put in her notice since we're past our freedom goal. I'll continue to put deals together since that's my favorite part. And they don't take that much effort/time on the back end for me since I have a great property manager.

Account Closed · Answer

come on, I am sure there is many in here to have reached this goal.

Account Closed · Answer

any other comments from other investors on here

Steve L. · Answer

How long did it take you to get there and what does it fee like?

It took about 3 years in the best market as a landlord will ever see in my life time.  We bought mostly one at a time.  It doesn't really feel different.   All the numbers are just bigger.

Are you in an expensive market?

Medium priced market, that has lots of price swings.

What is your target; more or relax now and enjoy life ✌🏼S

I think it is easier to set a goal based on gross rent collected versus unit counts (with minimum profit requirements). My lowest end tenant pays under $500/month.  One of my commercial tenants pays almost 100x that number monthly.

Any advise for newbies, take risk or try a few deals yourself before getting investors involved?

Stay hyper focused on your end goal.  Make money.  Keep your expenses low.  Real Estate is great for partnerships as they can easily be centered around specific asset(s).  Specialize in finding great deals.  Know what your competitive advantage is.  Know what you are not good at.  The market changes.  We have had to change our deal source and focus 3 or 4 times after about 10 years of being in business.  Don't try to swim upstream.  Follow the money and opportunity.

How do you find leads?

Everywhere.  I used to buy mostly REOs.  Now it is private sellers or leveraged relationships.  You would be shocked once your are in business how you can find deals.  I've bought properties from or introduced via people I originally met all over (church, tennis courts, on vacation, at real estate meetings, etc).

Did you have a full time job or business to fund the deals?

Short-term fix and flip businesses funded the rentals to start.

Anthony Dooley · Answer

You are asking good questions. I don't have 100 doors, but it is a goal. Most of us started with 1, then moved up from there.  Different people will have different answers to your questions, but nobody knows it all. Always keep learning. Watch videos, read books, listen to podcasts, and above all take action to acquire property for yourself.

Why do you have more than 100 doors?

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