38 w/ 8 units (4 plex, 3 family, and a SFH) all situated in suburbs outside Albany, NY. Traded in condos to start a side development business but then landed back on REI w/ these multi families that have about 33% down payment in them and cashflow pretty well. Selling SFH and waiting for the market to turn before picking up another multi.
Congratulations on ur success.
Why did u pick small commercial? Which city?
@ryan Hazelwood Covid has not affected me so far. All tenants paid on time . All are at 30 year
42, I got a late start to REI (just started last year), I own 2 SFH that are currently rented out, another SFH in the process of getting rehabbed and will be rented by September, I own a piece of vacant land near a casino, and I'm almost on contract with my first duplex (a City-owned property).
32, started 4 years ago, 14 doors / 5 properties (3 duplexes, 3 unit, 5 unit). BRRRR strategy!
Early 30s. Started 2 years ago:
3 Class A, 1 Class C/D. Range: $95k-$350k.
All under property management.
Located 500 to 2,400 miles from my primary residence.
Bought first, and second with 5% down loans.
HELOCS are currently untouched.
Purchased first house at 21. Now 34 and own 4 houses, 6 multi-family and 1 commercial building
I'm 32, I currently hold 5 rental units (1 true duplex, 1 SFR zoned with multiple dwelling units that I currently house hack with wife and I living in smaller unit mortgage free, and 1 SFR) and flipped 1 SFR sold mid-COVID for a small profit. All in Bradenton and Sarasota, FL.
My acquisition strategy has been all over the board. First duplex was an MLS find in a HOT HOT market two years ago, was listed overvalued, and I significantly low-balled and found seller at the right time to move it. Second non-traditional duplex also same story, but I bought it as primary residence to house hack. This is a SFR with a separate dwelling unit on almost an acre - personally this is an amazing and untapped value to me! I'm house hacking and living in smaller 800sf unit, renting out the main 1,150sf unit with pool, on almost an acre and living for FREE FREE FREEEEEEE and even making maybe $100/mo. In a hot market especially, I think this should be the #1 way new investors look, not just for the house hack advantages (although that is easily enough reason), but also because they aren't zoned like traditional multifamily where investors are searching for on the MLS, and they're not as attractive to regular home buyers who don't want that added value/cost/space on their yard with the additional unit. I think a solid ADU property is an investing sweet spot!
My last flip (SFR) and SFR rental were both purchased via a wholesaler with a combination of private lender, personal funds, and 401k loan. Like everyone else I stopped finding properties on the MLS worth the $$$ - so I began networking on FB REI & buy/sell groups and contacting folks selling homes.. all cash.. who were clearly wholesalers. This networking got me into buyers lists where I could see all these, comparatively, amazing deals! Now it's my main mission to begin sourcing my own deals and I'm taking steps to begin marketing campaigns to pull my own off market, deeply discounted properties.
Each different property type and acquisition strategy presented different and unique challenges and fears, but the momentum is real, as is the confidence and success in JUST TAKING ACTION. Good luck my friend!
I'm 30 and bought my first property which is a duplex house hack 1 year ago to the day. I just had a tenant move out and was able to renovate and get the rent up to slightly above market rate. I'm currently looking for a 20 - 90 unit apartment complex within 1 hour of Austin, Tx to syndicate or JV. I'm also looking for a live in flip right now too. My advice is, it doesn't matter if you're 18 or 65. Learn the basics and jump in! You'll never see whats on the other side if you don't march through the fog. Stay on your education and networking and always always always help others.
37 y.o. with 10 units (4 fam + 6 fam) in MA. Started investing in 2019, but was a property manager for high-rise commercial towers in Boston, MA for 8 years prior. Now I'm investing full time (left the corporate world) and I'm hoping to acquire more units this year with my HELOC, even with all the craziness going on right now....
Good luck on your journey.....never too late to start!
Age: 34 18 SFH and 1 Duplex all cash. Started 13 years ago we all have different starting points and investment strategies. Positives with all of them that I seen!
Originally posted by @Hem Korubilli :
Congratulations on ur success.
Why did u pick small commercial? Which city?
It just happened to be the first multi-unit property I assessed, kind of by accident. I ended up liking and preferring commercial afterwards, just longer term tenants, less headaches, more passive, they invest in your building for their renovations, etc. Mine were primarily in Detroit and SE Michigan.
I am 30 years old, own 4 duplexes, started with a HELOC for down payments, and I started house hacking as my first investment at age 23
45 and currently 650 under management. Combination of single family (new and old), office, apartment buildings 80’s and new Developement/mixed use - some being built right now.
Goal is 2500 by 2024. Also became extremely active on brokerage side. Makes most of my revenue helping buy portfolios or selling high end SF homes.
31 - 10 doors accross three multi units
@Ryan Hazelwood I’m 40. 7 SFHs in Louisiana, one duplex in TN and one Short term rental- beachfront townhome in FL.
@Bob Romano hey Bob, do you invest in Warwick? I’m local...I’m in the market for a 3-family in Providence.
I am 54 and own 0 properties. I just joined BP a couple of weeks ago. I have always been interested in rental property but never explored the option to purchase rentals, the issue has always been money. It is great to see there are so many people interested in rental properties and the ability to network.
I am looking to purchase my first property within the next six months. There is so much to learn and I am eager to get started. I do have a question, what county office do we search to get property owner information? Is it the county assessor's office? Has anyone used this method to generate leads on distressed properties? How do you go about it?
I'm 28 years old.
I mainly flip and wholesale, but for the rental portfolio I have a 14-unit a 32-unit apartment complex. Also have 2 single family rentals (one was really just a flip that couldn't sell lol).
I’m 45, own 3 single family rentals. Bought 1st in Jan 2016, 2 in 2019. Wife won’t let me buy more until I redo our kitchen and siding on our house which I’ll be working on very soon. One owned free and clear, small loans on other two. I wait for the right buys and rehab myself with cash for all rehab expenses. Cash flow on the 3 is $1750/month after expenses. We have $4000 saved for each house for capex/etc, I self manage/maintain. All houses have new roofs, heating systems, and are all up to date, up to code, and fully rehabbed with new kitchens,baths, flooring, and everything in between. Lots of equity and cash flow when waiting for the right buys and rehab myself!
@Andrew DeWeerd amazing! Thank you for the reply!
It is not the size that counts, lol. Seriously though the real measure is income (cash flow) and net worth.
30 with 6 rentals (2 duplexes and 2 SFR). Short-term goal is to have 10 cash-flowing units within the next 10 months.
I’m 32 and currently with my husband we have 7 rentals (5 long-term and 2 short-term) and in the process of acquiring our 8th. We started in 2016 and we are quickly growing it.
@J. Mitchell Bernier hey man. I sent you a message. Want to learn more about your partnership.
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