Updated about 5 years ago on . Most recent reply
Reaching 20+ Single Family Rentals
Hello, what are the biggest adjustments you had to make to your business when reaching 20 SFR? I am currently at 9 units and usually add 1 property at a time. I am hoping to reach about 12 units in the next 6 months and planning to reach 20 units in 2022. I self manage and target properties in B class areas which reduces my hassles with tenants.
My portfolio is currently all SFR because multi family opportunities have not come up as and if they do the numbers make it less attractive than an SFR. I wanted to know when reaching 20+ rentals what are some of the biggest adjustments you had to make with your business or things you know now that you didn't before reaching this scale?
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Rental Property Investor
- Boulder, CO
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Rental Property Investor
- Boulder, CO
@Satyam Mistry The biggest adjustment would be putting in solid systems and hiring a great team (albeit I did that long before 20 units). I hired an amazing PM, a VA to help with bookkeeping and other business items, and a tax strategist.
It all depends how far you want to scale. Check out the Cashflow Quadrant by Kiyosaki. Love him or hate him, it's a good book to understand what you need to do to scale to be an actual investor.