How did YOU buy your first 10 rentals?

[Al Bunch]

First, how many rentals do you currently own?

Second, how did you acquire each of your first 10 rentals?

Third, how long did it take you to get your first 10?

You don't have to give a blow-by-blow account, but maybe a broad overview like first 4 were conforming mortgages, second 2 were sub2 deals, next 3 were bought using a line of credit against the first 4..etc.

[Rich Weese]

More than 10.

Very carelessly.

Not very long.

It was in early 70's and FHA loans were simple assumption and values were going up 20% per year. Assume a loan with less than 5% down and 20% per year caused a mushroom effect on net worth. Different and slightly more difficult now. Is still accomplished these days, just different strategy.

Rich