Ken Faler here from Dayton, OH. First time on BP. I am trying to aggressively purchase and grow the number of single family rental homes I have. I am 33 yrs old and have acquired close to 100 houses over the past 10 years, 83 of which I still hold as long term rentals the remainder being sold as flips. I use private mortgages to fund the acquisition and rehab at 10% then use bank financing to take out the private lender between months 12 and 18, then move onto the next one. I prefer the 3 bed 1 bath brick ranch for $55K all-in that rents for about $800-850 per month. Starting to consider apartment buildings but struggle to find them at $0.70 to $0.80 on the dollar which is what I would need for my takeout refi to maintain the equity spread which so far has allowed me to grow up to this point.
@Ken Faler Well hello, stranger - haven't seen you in a while. Welcome to BP!
WOW! That is amazing!! While we are also slowly growing our empire we are at 7 single family home! Congratulations on you 83 single family.
Hey @Ken Faler
I am in springboro too! We should meet up for a coffee or something to discuss investing. I'm sure we can help each other somehow.
Christina nice to hear from you as well, trying to enter the social media world I guess, I am going to try and make the next Logan's RE meeting, thanks for adding me to the Facebook group!
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