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Updated almost 8 years ago on . Most recent reply

User Stats

19
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8
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Alex L.
  • Chicago, IL
8
Votes |
19
Posts

What's next? Looking for advice/ideas!

Alex L.
  • Chicago, IL
Posted

Hi everyone, I'm looking for some advice/ideas on I should do next. Here is where I'm now.

-Started flipping condos since 2012 and have done 12 deals so far.I exclusively buy condos around city downtown and the average acquisition price is about $300K with a net profit of $50K after the resale

-Started to hold some units since last year and so far I have 4 condos with a combined cashflow of $2000 a month(all of them are in fast growing prime downtown neighborhoods with a combined market value of $1.8 million, my combined equity is about $800K and total mortgage is about $1million. Because the units are all located in prime locations, I get great tenants with minimum need for maintenance/repair)

My desire is to grow both equity and cashflow quickly so we can 'set for life'!

Ideas? please chime in...

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