@Ryan Hazelwood I am about to turn 40 and own 6 single family rentals in Australia and a 3-plex in NOLA. I started about 5 years. Started by pulling money from my business to fund 20% down payments and bank financed the rest.
30, bought my first last year from a turnkey provider, wont do that again. Have one short term rental and closing on a second in September when it is finished being built. Currently rehabbing a brrrr as well. Will continue to buy STR and use cash to brrrr in my backyard. Goal is to have 20 properties by the end of 2021.
Thanks for posting!!
29. I have 17 rental units and two commercials spaces
37 w/ 1 rental but house-hacked my first house and made $110,000 profit.
58 years old. 8 SFH
Bought first one 2005
paid cash For all . Great income .
Wish I had the courage ( and the
money ) to start earlier .
I’m 36 and own 7 rentals (although I am a 50% partner in one of them; the other 6 I own personally). They’re all lower end condos, but the lowest end condos on Maui still aren’t exactly war zone. I rent most of them through section 8, and look for people in the shelter that need a chance, but pass the application with flying colors.
Closed on my first rental less than 3 years ago. Never would’ve imagined that I’d scale this fast (not to mention, have the opportunity to partner with Brandon Turner!!! Still can’t believe that one!) Now have about 17 deals done between flips, wholesales and rentals. The. Has flow on my 7 rentals is probably enough to pay the bills (40-50kish), but major surprises, vacancies, rents dropping, and other issues could put me in a very bad position so I continue my full time job, probably until we have six figures of cash flow. The really fun news is that this year I made more flipping in the first 3 months than I make in a full years income!!
Get started!! If I can do it anyone can!
@William Durel that’s amazing. Did you find a fixer upper to do that?
@Greg Gaudet thanks you for the inspiration! My aunt and uncle own a house on Maui. I can’t imagine what a “low income” property would even be worth considering theirs was like a couple million or more. How does section 8 housing work and is it worth it?
@Ryan Hazelwood it was nice in ready but dated. Needed newer windows, some updating to a couple rooms. I watched the markets for about 12 months and bought as the interest rates bottomed out. So we purchased when rates hit 4%.
@Marci Stein it seems like patience is key, but not too much patience. Haha
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you