How do I buy 10 rental properties in 1 year?
Member since 2023 · 63 posts · 43 votes
How do I buy 10 rental properties in 1 year?
Most Popular Reply
Realtor · Hanover Twp, PA · Member since 2018 · 3k+ posts · 3k+ votes
1y@Joseph Fenner, where did you get these goals? They don't seem realistic on their face and here are a few thoughts as to why.
1. You don't mention the market, but even in a good cash-flowing market $500/unit not not easy to find especially when fully leveraged at today's rates and also trying to borrow down payments. It's hard to find ANY cash-flow doing that.
2. It sounds like you believe that you can borrow, buy, and make money. If it was that easy everyone would be wealthy. It takes more effort than that to find, make, and execute on good deals.
3. You seem to believe cash and financing are your limiting factors and if you were only going to buy 1 property that might be the focus, but to buy many deals you need processes in place to find opportunities. You need the ability to do something with those opportunities doing rehab work and you need to be able to execute with professional quality property management.
4. If you have the skills and get the experience, you can get the funding. Lending to a novice who wants to borrow 100% of the equity of a rent ready property is riskier than lending to someone experienced who wants to buy, rehab, rent, & refinance a severely distressed property even though in the later case you would be initially lending MORE than the value of the property, but knowing the ARV will well exceed the loan in the end when executed well.
5. I would throw away the goals and start by assessing YOURSELF and determine what skills and effort you will bring to real estate investing and THEN decide on an investment strategy that suits you. After that then and only then make some goals based upon that because then you will have goals that make sense in light of what you are actually able and willing to do.
94 Replies
- Realtor · Hanover Twp, PA · Member since 2018 · 3k+ posts · 3k+ votes1y
@Joseph Fenner, where did you get these goals? They don't seem realistic on their face and here are a few thoughts as to why.
1. You don't mention the market, but even in a good cash-flowing market $500/unit not not easy to find especially when fully leveraged at today's rates and also trying to borrow down payments. It's hard to find ANY cash-flow doing that.
2. It sounds like you believe that you can borrow, buy, and make money. If it was that easy everyone would be wealthy. It takes more effort than that to find, make, and execute on good deals.
3. You seem to believe cash and financing are your limiting factors and if you were only going to buy 1 property that might be the focus, but to buy many deals you need processes in place to find opportunities. You need the ability to do something with those opportunities doing rehab work and you need to be able to execute with professional quality property management.
4. If you have the skills and get the experience, you can get the funding. Lending to a novice who wants to borrow 100% of the equity of a rent ready property is riskier than lending to someone experienced who wants to buy, rehab, rent, & refinance a severely distressed property even though in the later case you would be initially lending MORE than the value of the property, but knowing the ARV will well exceed the loan in the end when executed well.
5. I would throw away the goals and start by assessing YOURSELF and determine what skills and effort you will bring to real estate investing and THEN decide on an investment strategy that suits you. After that then and only then make some goals based upon that because then you will have goals that make sense in light of what you are actually able and willing to do.
- 1yRobin SimonBusiness MemberLender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes
Quote from @Joseph Fenner:
My goal is to acquire 167 rental properties in 5 years generating $500/month on average.
Im starting my first year and am planning to buy 10 properties in 1 year. I’ll have $50K saved and $8,000 in credit lines.
My question is how do I get the money for 10 down payments? I’ll have enough capital to cover 2 down payments 1: first property Under 5% because I’m house hacking. 2: And 20% for the remaining 8 properties. Let’s assume 40K down payment * 8 properties = $320,000. Is it smart to finance the down payment on top of the property? How do I get the financing? Is there another way I could accomplish this?
The BRRRR Method is really designed for this - I'd recommend buying the "BRRRR Book" in the BP bookstore and following that strategy - it basically outlines this exact gameplan in the opening chapters
Harpoon Capital514 Reviews - Member since 2024 · 2 posts · 2 votes1y
Quote from @Joseph Fenner:
My goal is to acquire 167 rental properties in 5 years generating $500/month on average.
Im starting my first year and am planning to buy 10 properties in 1 year. I’ll have $50K saved and $8,000 in credit lines.
My question is how do I get the money for 10 down payments? I’ll have enough capital to cover 2 down payments 1: first property Under 5% because I’m house hacking. 2: And 20% for the remaining 8 properties. Let’s assume 40K down payment * 8 properties = $320,000. Is it smart to finance the down payment on top of the property? How do I get the financing? Is there another way I could accomplish this?
You have a number of ways you might be able to finance multiple down payments — potentially through partnering with investors or using HELOCs on your existing properties, possibly even seller financing. A portfolio loan might also be a good idea, provided you have multiple properties to bundle together; this can help lower the down payment. A potential trap people may fall into is that they will borrow to source a down payment, therefore ensure you check existing debts and cash flow carefully otherwise you might be in over your head.
- 1yTravis TimmonsPro MemberRental Property Investor · Ellsworth, ME · Member since 2021 · 1k+ posts · 2k+ votes
Buy 1 and see how it goes. It's harder than it seems on paper. And it takes more than $40k to buy a $200k property. Closing costs plus cash reserves probably puts that at $60k to actually do it (if a lender does not require 25%).
- 1yWale LawalBusiness MemberReal Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
To acquire 167 rentals, use creative financing strategies like the BRRRR Method, seller financing, partnerships, joint ventures, HELOC/Equity Loans, portfolio loans, credit cards, and business credit lines. Leverage private lenders and seller financing to avoid draining cash reserves. Start with one or two BRRRR deals and use cash-out refinance for next deals. Build a strong network of lenders, partners, and contractors to achieve your goal. Don't hesitate to go slow initially, learn from the first few deals, and pick up the pace once you've locked in your process.
Good luck!
NETWORTH BUILDERS5236 Reviews - Member since 2023 · 63 posts · 43 votes1yThat sounds better.
Quote from @Wale Lawal:
To acquire 167 rentals, use creative financing strategies like the BRRRR Method, seller financing, partnerships, joint ventures, HELOC/Equity Loans, portfolio loans, credit cards, and business credit lines. Leverage private lenders and seller financing to avoid draining cash reserves. Start with one or two BRRRR deals and use cash-out refinance for next deals. Build a strong network of lenders, partners, and contractors to achieve your goal. Don't hesitate to go slow initially, learn from the first few deals, and pick up the pace once you've locked in your process.
Good luck!
I made a plan to save $50K from 1/1/25-1/1/2026 realistically how fast can I expand using the BRRRR strategy?
If I use an FHA loan to buy a BRRRR and house hack let’s say I’m starting with $50K cash and I put 3.5% down let’s estimate $12K including closing costs. I’ll have $38K leftover. Now is it smart to finance the rehab work or use my cash? After I rehab it let’s say I put $30K in rehab work, on average how much would my property increase in value? How do I calculate that? Also can I use an FHA loan to buy a distressed property that needs repairs? Are there any criteria I should know about?
My goal is to achieve financial freedom in my 20s I want to make $1M/Year, Besides buying 167 properties generating $500/month, how else could I go about it? Ideally using the BRRRR strategy. - Lender · Nashville, TN · Member since 2024 · 700 posts · 284 votes1y
You don't eat an elephant in one bite.
Focus on whats in front of you.
- Member since 2023 · 63 posts · 43 votes1yThanks for the reply, I know my goals can be crazy and yes it does sound a little unrealistic but I believe it is still doable in the long run as long as I do everything right. It would be easier if I had more money, networks, knowledge. Which is why I posted this.
Quote from @Kevin Sobilo:
@Joseph Fenner, where did you get these goals? They don't seem realistic on their face and here are a few thoughts as to why.
1. You don't mention the market, but even in a good cash-flowing market $500/unit not not easy to find especially when fully leveraged at today's rates and also trying to borrow down payments. It's hard to find ANY cash-flow doing that.
2. It sounds like you believe that you can borrow, buy, and make money. If it was that easy everyone would be wealthy. It takes more effort than that to find, make, and execute on good deals.
3. You seem to believe cash and financing are your limiting factors and if you were only going to buy 1 property that might be the focus, but to buy many deals you need processes in place to find opportunities. You need the ability to do something with those opportunities doing rehab work and you need to be able to execute with professional quality property management.
4. If you have the skills and get the experience, you can get the funding. Lending to a novice who wants to borrow 100% of the equity of a rent ready property is riskier than lending to someone experienced who wants to buy, rehab, rent, & refinance a severely distressed property even though in the later case you would be initially lending MORE than the value of the property, but knowing the ARV will well exceed the loan in the end when executed well.
5. I would throw away the goals and start by assessing YOURSELF and determine what skills and effort you will bring to real estate investing and THEN decide on an investment strategy that suits you. After that then and only then make some goals based upon that because then you will have goals that make sense in light of what you are actually able and willing to do.
What I am trying to figure out is HOW do I invest in real estate to the point I’m making $1M/year, How long will it take?, If you had a goal to make $1M/year by investing in real estate and you had 10 years to do it how would you do it?
I made a plan to save $50K so on 1/1/26 I will have $50K saved and I’ll be ready to move on to the next phase which is investing in a BRRRR via house hacking. I am going to take out an FHA loan 3.5% down, and either borrow the money for the rehab or use my saved cash which is the best move? Then do a cash out refinance and move onto the next.
But my main focus is HOW am I going to expand fast to achieve my goal? What other approaches can I take into consideration that will allow me to achieve my goal of $1M/year? What should I study in detail? What areas should I focus on learning more about? Is $50K enough starting capital? Can I do it with less? Is it too much or too little? How do expand my network starting with just me. - Member since 2023 · 63 posts · 43 votes1yThank you for this, Based on my goals what other advice could you give me?
Quote from @Brandon Croucier:
You don't eat an elephant in one bite.
Focus on whats in front of you.
- 1yV.G JasonPro MemberInvestor · Member since 2022 · 3k+ posts · 3k+ votes
Quote from @Joseph Fenner:
Thank you for this, Based on my goals what other advice could you give me?Quote from @Brandon Croucier:
You don't eat an elephant in one bite.
Focus on whats in front of you.
Start with one, see what it really costs you and what you could improve on. Then move to number 2.
You're thinking 10 a year, when you haven't done one. You don't know what you don't know. Get yourself in front of it first, you also completely ignored any risk factors(for reserves).And trust me, as someone who bought 40 + in one year, there's a ton more work and a ton, ton more capital involved. Your limiting factors are the width of your expectations and reality, but that doesn't mean you cannot start somewhere. Get your house hack, see how that goes and move on from there.
- Realtor · Hanover Twp, PA · Member since 2018 · 3k+ posts · 3k+ votes1y
Quote from @Joseph Fenner:
Thanks for the reply, I know my goals can be crazy and yes it does sound a little unrealistic but I believe it is still doable in the long run as long as I do everything right. It would be easier if I had more money, networks, knowledge. Which is why I posted this.Quote from @Kevin Sobilo:
@Joseph Fenner, where did you get these goals? They don't seem realistic on their face and here are a few thoughts as to why.
1. You don't mention the market, but even in a good cash-flowing market $500/unit not not easy to find especially when fully leveraged at today's rates and also trying to borrow down payments. It's hard to find ANY cash-flow doing that.
2. It sounds like you believe that you can borrow, buy, and make money. If it was that easy everyone would be wealthy. It takes more effort than that to find, make, and execute on good deals.
3. You seem to believe cash and financing are your limiting factors and if you were only going to buy 1 property that might be the focus, but to buy many deals you need processes in place to find opportunities. You need the ability to do something with those opportunities doing rehab work and you need to be able to execute with professional quality property management.
4. If you have the skills and get the experience, you can get the funding. Lending to a novice who wants to borrow 100% of the equity of a rent ready property is riskier than lending to someone experienced who wants to buy, rehab, rent, & refinance a severely distressed property even though in the later case you would be initially lending MORE than the value of the property, but knowing the ARV will well exceed the loan in the end when executed well.
5. I would throw away the goals and start by assessing YOURSELF and determine what skills and effort you will bring to real estate investing and THEN decide on an investment strategy that suits you. After that then and only then make some goals based upon that because then you will have goals that make sense in light of what you are actually able and willing to do.
What I am trying to figure out is HOW do I invest in real estate to the point I’m making $1M/year, How long will it take?, If you had a goal to make $1M/year by investing in real estate and you had 10 years to do it how would you do it?
I made a plan to save $50K so on 1/1/26 I will have $50K saved and I’ll be ready to move on to the next phase which is investing in a BRRRR via house hacking. I am going to take out an FHA loan 3.5% down, and either borrow the money for the rehab or use my saved cash which is the best move? Then do a cash out refinance and move onto the next.
But my main focus is HOW am I going to expand fast to achieve my goal? What other approaches can I take into consideration that will allow me to achieve my goal of $1M/year? What should I study in detail? What areas should I focus on learning more about? Is $50K enough starting capital? Can I do it with less? Is it too much or too little? How do expand my network starting with just me.Focus on the FIRST deal first! I don't think you are at the point where you can plan for global domination.
If you are going to do a BRRRR there is a lot to learn just doing one of those and after that maybe you can make a modestly bigger plan based on your experience there.
Learning to manage the rehab project, scope of work, contractors, etc etc. There is a lot to learn there and many ways for things to go sideways and end up poorly. So, I would focus on making that go well first.
- Lender · Nashville, TN · Member since 2024 · 700 posts · 284 votes1y
Quote from @Joseph Fenner:
Thank you for this, Based on my goals what other advice could you give me?Quote from @Brandon Croucier:
You don't eat an elephant in one bite.
Focus on whats in front of you.
You need to take action & quit planning.
- 1yDrew SygitBusiness MemberProperty Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
@Joseph Fenner my goal is to win the lottery!
It's as well thought out as your goal.
How many properties have you anlayzed for ROI and cashflow?
If you actually did this, you'd have an obvious answer for your question about financing down payments.
This is your post from 9 months ago:
My goal is I want to buy 200 properties in 5 years(separate business plan) and build even bigger after until I have the biggest real estate empire. I need to become a millionaire in my 20s it’s a requirement and I need to buy my first rental property at age 20 which I just turned 20 so I have less than 1 year to acquire my first property, it’s a non negotiable. I want to get to a point where I am buying properties every day across the world.
But my first goal is to buy my first duplex and rent it out this year it cannot be later, like I mentioned it's a requirement for me. I will be traveling across the US to a better housing market, I have access to the MLS for every state which is cheaper than hiring a realtor and will make my journey better and faster.Also I have no income I live on disability and invest that into stocks, I worked a few months in IT and saved everything and quit so I could buy time. My credit score is 765 and I have the best credit history never missing a payment which will help me and my investments.
Where can I find an investor to give me $50,000 to show the lender I have income and a down payment? Also for travel expenses.
What actual research and analysis have you done since then?
Until YOU start investing YOUR TIME, you're just wasting OUR time!
Logical Property Management4.9459 Reviews - Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes1y
Quote from @Drew Sygit:
@Joseph Fenner my goal is to win the lottery!
It's as well thought out as your goal.
How many properties have you anlayzed for ROI and cashflow?
If you actually did this, you'd have an obvious answer for your question about financing down payments.
This is your post from 9 months ago:
My goal is I want to buy 200 properties in 5 years(separate business plan) and build even bigger after until I have the biggest real estate empire. I need to become a millionaire in my 20s it’s a requirement and I need to buy my first rental property at age 20 which I just turned 20 so I have less than 1 year to acquire my first property, it’s a non negotiable. I want to get to a point where I am buying properties every day across the world.
But my first goal is to buy my first duplex and rent it out this year it cannot be later, like I mentioned it's a requirement for me. I will be traveling across the US to a better housing market, I have access to the MLS for every state which is cheaper than hiring a realtor and will make my journey better and faster.Also I have no income I live on disability and invest that into stocks, I worked a few months in IT and saved everything and quit so I could buy time. My credit score is 765 and I have the best credit history never missing a payment which will help me and my investments.
Where can I find an investor to give me $50,000 to show the lender I have income and a down payment? Also for travel expenses.
What actual research and analysis have you done since then?
Until YOU start investing YOUR TIME, you're just wasting OUR time!
Agreed on this point. You set a goal that's unrealistic and 99.9% of people do not hit near that when they invest in real estate. Not saying you will never get there but to go from 0 properties to 167 in 5 years with your income and savings will not happen. You can leverage and be creative but you don't have the foundation to sustain buying 10 properties in 1 year. You don't have experience to partner with someone who is willing to fund you to do so.
As others said start with one. With 50K you can start with 1/2 properties to get your feet wet. From there SLOWLY scale and add properties. Planning will only go as far as the work you put in - Investor · Costa Mesa, CA · Member since 2016 · 1k+ posts · 1k+ votes1y
I would suggest that you focus on buying fewer but better properties. Owning a lot of cheap properties with crappy tenants is a great way to lose money. Best of luck to you.
- Member since 2020 · 351 posts · 329 votes1y
What I did (my goals and availability of free time are different their yours) was to buy one that was ready to go and get it rented (and go through that process). The second one was more of a fixer but cosmetic. I don't have any plans to buy a third. If you were very aggressive and good with brr, you might be able to get 3 in year one, but that's a stretch with the amount you have saved.
Growing to the large number you are looking at in the time frame you want will require outside equity investors and will require a large team to help manage and support your work (at which point you'll probably move to apartment complexes rather than single family homes). This will require showing you have good processes via the first couple of investments. So, you'll likely to be 1-2 the first year, 2-3 the second year, then 5-10 year 3 (you'll be expected to put up 20% of the equity (or 5%, 20% other people's money, 75% loan).
Good luck Joesph. - Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes1y
Serious question @Joseph Fenner, I am curious the catalyst where you came up with this whole idea of things.
Was there some book you read, some class or YT info you drew upon? Where did this notion come from of going from 0 too 167 properties in 5yrs????
So here is something I wonder if you ever considered in this venture; what if you really suck at it? Serious. How many people set out that they want to be, say, a Dentist only to find they really hate it. And in the path of things, they switch, to say being a Pediatrist.
I am seriously curious what posses one to think there gonna set out to be HUGE, vs setting out to start, try it on, feel things out, focus on the 1 and see where things go from there?
- Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes1y
Quote from @Joseph Fenner:
My goal is to acquire 167 rental properties in 5 years generating $500/month on average.
Im starting my first year and am planning to buy 10 properties in 1 year. I’ll have $50K saved and $8,000 in credit lines.
My question is how do I get the money for 10 down payments? I’ll have enough capital to cover 2 down payments 1: first property Under 5% because I’m house hacking. 2: And 20% for the remaining 8 properties. Let’s assume 40K down payment * 8 properties = $320,000. Is it smart to finance the down payment on top of the property? How do I get the financing? Is there another way I could accomplish this?
So you want to have 167 rentals(WTH did you get that number from ? ) with 50k NOT happening ,,,,,, HMM this reads like a FB post
Good luck
- Rental Property Investor · Bow, NH · Member since 2016 · 216 posts · 185 votes1y
@Joseph Fenner
Good advice above. Even if you assume your goal is realistic, James makes a great point. I planned to retire off of STRs...had it all mapped out. I bought one and the first year was OK but I quickly learned I HATED it. You couldn't pay me enough to start another. I MUCH MUCH prefer long terms. There are people who will completely disagree with me. Everyone is different and until you try the first you will have no idea if you want to dedicate the next 5 years of your life to it.
What happens if you get the first one and the following happens
1. Contractor decides going on a two week vacation in the middle of the rehab pushing out the subs work who were already booked the next several months
2.Tenant stops paying rent. Still have expenses, but no income (hope you have reserves for a lawyer)
3. Despite rock solid comps the appraiser gives you a very low appraisal. How do you refi?
4. Interest rates go up
5. An anomaly happens in your personal life that consumes more money than normal. Wipes out your reserves.
That exact perfect storm happened on a brrrr deal of mine. Are you really going to stay this motivated under those circumstances. I bet realistically most people would stop there.
- 1yWesley WhiteheadPro MemberRental Property Investor · Depends on where my employer sends me · Member since 2018 · 171 posts · 142 votes
@Joseph Fenner good on you for the ambitious goal but I would focus on getting my first property. That sets the tone for learning about the future.
All the advice here (and there are great insights) will not substitute going out and getting a deal.if you are serious about a future in RE, you will learn from your mistakes in your first deal and you will use those mistakes to help you in your second deal and so forth.
Most importantly you will if you enjoy the journey of RE investing. Cash flow/FIRE is awesome and most investors start out with this goal in mind but RE investing is work and if one doesn’t enjoy walking the path that RE leads to, RE investing is just another cruddy job. I buy rental properties because I love the process and the hours I put in do not adversely affect my W2 career/time with my family which I enjoy even more.
Find your WHY and then get that first deal done. If you end up being hooked like many investors here are, your desire to learn strategies to achieve your goal will only grow.
- Member since 2023 · 63 posts · 43 votes1yNot all at once, over the spam of 5 years. $50K will not work for 167 properties I would need $5,010,000 to do that. My goal is to make 1M a year and 1M / 12 months = $83,333/month / by $500/month cash flow = 166.6 rounded up to 167. 167 Properties generating $500/month = $83,500/month. * 12 months = $1,002,000/year.
Quote from @Bob S.:
Quote from @Joseph Fenner:
My goal is to acquire 167 rental properties in 5 years generating $500/month on average.
Im starting my first year and am planning to buy 10 properties in 1 year. I’ll have $50K saved and $8,000 in credit lines.
My question is how do I get the money for 10 down payments? I’ll have enough capital to cover 2 down payments 1: first property Under 5% because I’m house hacking. 2: And 20% for the remaining 8 properties. Let’s assume 40K down payment * 8 properties = $320,000. Is it smart to finance the down payment on top of the property? How do I get the financing? Is there another way I could accomplish this?
So you want to have 167 rentals(WTH did you get that number from ? ) with 50k NOT happening ,,,,,, HMM this reads like a FB post
Good luck
- Member since 2023 · 63 posts · 43 votes1yWhen I was in HS a new English teacher came and was there for 1 month and quit, during the time he had us read Rich dad poor dad, and ever since that I become hyper fixated like a spark went off, It’s all I think about, I believe anything is possible. Also I don’t have a choice it’s real estate or nothing, financial freedom is getting achieved no matter what, I’m living the lifestyle I want and I need to retire my mom she’s 52 years old and has $2K in her retirement account. Someone has to do it and I’m the only one that is strong enough to go to war with the challenges and get it done. I’m not gonna suck I will be the best because effort beats talent, anything is possible and I will achieve my goals. I don’t have a lot of time I’m about to be 21 I need to be a millionaire by the age of 25. Real estate is very interesting to me it’s like putting together a puzzle in my brain and it’s fun. Real estate is the only option I have. I will be the greatest and nothing will stop me because I am unstoppable. I need to be the first millionaire in my family I promised it to myself, my mom is relying on me and the people that doubted me are watching me. I need to win at the highest level. I’m tired of being poor I can’t live like this for the rest of my life working a 9-5, 2 week vacation a year, horrible pay, all for 60 years of your life. That’s a waste and that is not normal This is prison and I can’t wait for the day I retire my mom it’s gonna feel amazing. She’s gonna have the best retirement and I’m gonna be living the life of my dreams. Young!
Quote from @James Hamling:
Serious question @Joseph Fenner, I am curious the catalyst where you came up with this whole idea of things.
Was there some book you read, some class or YT info you drew upon? Where did this notion come from of going from 0 too 167 properties in 5yrs????
So here is something I wonder if you ever considered in this venture; what if you really suck at it? Serious. How many people set out that they want to be, say, a Dentist only to find they really hate it. And in the path of things, they switch, to say being a Pediatrist.
I am seriously curious what posses one to think there gonna set out to be HUGE, vs setting out to start, try it on, feel things out, focus on the 1 and see where things go from there?
- Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes1y
Quote from @Joseph Fenner:
Not all at once, over the spam of 5 years. $50K will not work for 167 properties I would need $5,010,000 to do that. My goal is to make 1M a year and 1M / 12 months = $83,333/month / by $500/month cash flow = 166.6 rounded up to 167. 167 Properties generating $500/month = $83,500/month. * 12 months = $1,002,000/year.Quote from @Bob S.:
Quote from @Joseph Fenner:
My goal is to acquire 167 rental properties in 5 years generating $500/month on average.
Im starting my first year and am planning to buy 10 properties in 1 year. I’ll have $50K saved and $8,000 in credit lines.
My question is how do I get the money for 10 down payments? I’ll have enough capital to cover 2 down payments 1: first property Under 5% because I’m house hacking. 2: And 20% for the remaining 8 properties. Let’s assume 40K down payment * 8 properties = $320,000. Is it smart to finance the down payment on top of the property? How do I get the financing? Is there another way I could accomplish this?
So you want to have 167 rentals(WTH did you get that number from ? ) with 50k NOT happening ,,,,,, HMM this reads like a FB post
Good luck
Where is the admin? Let's get rid of this post, THIS IS NOT FB ,
Thank you
- Realtor · Hanover Twp, PA · Member since 2018 · 3k+ posts · 3k+ votes1y
Quote from @Bob S.:
Quote from @Joseph Fenner:
Not all at once, over the spam of 5 years. $50K will not work for 167 properties I would need $5,010,000 to do that. My goal is to make 1M a year and 1M / 12 months = $83,333/month / by $500/month cash flow = 166.6 rounded up to 167. 167 Properties generating $500/month = $83,500/month. * 12 months = $1,002,000/year.Quote from @Bob S.:
Quote from @Joseph Fenner:
My goal is to acquire 167 rental properties in 5 years generating $500/month on average.
Im starting my first year and am planning to buy 10 properties in 1 year. I’ll have $50K saved and $8,000 in credit lines.
My question is how do I get the money for 10 down payments? I’ll have enough capital to cover 2 down payments 1: first property Under 5% because I’m house hacking. 2: And 20% for the remaining 8 properties. Let’s assume 40K down payment * 8 properties = $320,000. Is it smart to finance the down payment on top of the property? How do I get the financing? Is there another way I could accomplish this?
So you want to have 167 rentals(WTH did you get that number from ? ) with 50k NOT happening ,,,,,, HMM this reads like a FB post
Good luck
Where is the admin? Let's get rid of this post, THIS IS NOT FB ,
Thank you
Mr/Ms Admin,
Bob needs help deleting his reply. Apparently he is only used to using facebook. Older people like this often need a little extra help with technology. So, let's not put him down simply for asking for help here.
Join the conversationCreate a free account to reply, vote on answers and follow this thread.