Rental Property Investor · Albuquerque, NM · Member since 2020 · 50 posts · 102 votes
I'll start. I'm 38 and I own 0 properties. I am reading all I can on REI with the goal to buy my first property within the next year. I'd love to be inspired by some of you and your journey.
I’d like to know your age, how many rentals you own, and the type of properties you own? How did you get your start and at what age?
Our first purchase of an investment property was at age 38. Twenty-five years later, we're holding 17 rental units (5 SFH, 2 duplexes, 1 eight-plex) that are all cash flowing. Real estate investing is not a full-time occupation for us, as both my husband and I have other careers. We're within 7 years of retirement and our portfolio will support that, in addition to our other investments and retirement funds.
Strategy.... Be a person of integrity, be kind to yourself and others, take care of your body (it's the only one you have), be a lifetime learner, set goals, stay the course, adjust to new circumstances, work smart, save more than you spend, don't hold consumer debt (pay off bills every month), build your credit worthiness, maintain a stellar credit score, nurture relationships with others, keep faith in God, believe in yourself, be a positive person, give back to the community with your time, talent, and treasure.
My name is Dylan, I’m 21 years old and have 6 properties currently. I have 1 duplex, 4 single family rentals, and 1 that I’m flipping rather than renting.
I bought my first house when I was 19 and it took me 2 years to get it done and turn it into a duplex. I got it finished and rented in fall of 2019, refinanced the house and now I have purchased 5 houses in the last 6 months!
I am 37 years old with 20 units (5 triplexes and a 5 unit building) I currently have a 4 plex under contract. I started at 21 house hacking a triplex! It hasn’t been easy, made some mistakes, but well worth it.
I purchased my first single family home at 19. At the age of 21 I purchased a new home and turned my prior home into a rental. I am currently 22 and actively looking at closing on another property by the end of the year!
I’m 34. Started at 20 with a mobile home. I have 39 investments currently, more owner finance notes than anything, a new build I’m doing, 7 rental properties (single family, mobile home, and one 3 unit small commercial), some vacant land for building, and some for long term hold lakefront acreage I might put a rental or two on. Did about half that while working more than full time and now my day job is as a Realtor. Looking into more new construction and land subdividing because it’s fun. And more rentals because of the tax advantages.
49 years old with 10 single family rentals. Started five years ago at 44 years old and got hooked! Bought on average 2 properties a year. Two are paid off and 8 are on 15 year loans. Cash flow is 4k/month now and will be around 12k/month when they’re all paid off. This income will help immensely when I retire in 16 years. Wish I would have started in my twenties! Easy $ :)
2012: Home #1Bought #1 at 27. $175,000 5/95 conventional at 3.875%. Primary residence, bought on short sale, built in 2006.
2014: Home #2 Moved/upgraded to new SFH, new construction. $245,000. 5/95 conventional at 4.25%. Rented home #1 for $300 positive cash flow after all management expenses.
2015: Refinanced home #2 with same lender to 3.875% $0 fees, no idea why they were so generous.
2017: Hit 5 year mark and requested PMI removal from home #1, lender agrees, increased cash flow by $100/month.
2018: Moved/upgraded to new SFH $282,500. 20/80 conventional at 4.5%. Put extra down to ensure positive cash flow as future rental. Rented home #2 to property management company for AirBnB arbitrage. $400/month positive cashflow.
2019: Relocate for W-2 job to an apartment paying crazy rent (double any mortgage we have). Fiancé moves with me, rent her primary (Home #4) out for $200/month positive and rent home #3 out for $200/month positive.
2020: Refinance home #3 to 3.25%. Extra $100/month after fees rolled into loan.
I remotely (3 hour drive) manage all 4 rentals, and do maintenance on a few other homes for friends because I’m handy. They are all 2006 or newer single story homes so maintenance is low, and am very selective (super lucky) about tenants, 0 turnover to date since 2014. Its a slow journey but if investing becomes part of your lifestyle, you forget you even own these properties and your net worth just grows!
58 and 59, began ten years ago buying foreclosures. Just closed on the 13th rental property. We are buy and hold investors, we have 8 mortgages total, including our SF home. (We had another property, our first, when a place went condo right when the recession hit, but eventually it reverted back to apartments as the developer still held most units.) Our older son and husband hold the mortgage on one condo, son lives in it with a roommate, but we are still the landlords (son wanted us to be the bad guy for any potential roommate issues.) So that unit sort of doesn't count. We have 3 halves of duplexes, 9 condos, one townhouse. Husband will probably take retirement from the oil industry soon, BP (the oil company, not Bigger Pockets) is cutting 15% of the workforce, mostly senior folks. We hope to eventually buy the other half of the 3 duplexes, don't have much planned beyond that. But who knows what is coming. Might be some real price drops, might be tenants all move back in with Mom like they did ten years ago. We're fine either way, I think 20 units is probably our upper limit as we self manage. Our system varies drastically from what most on here think is right, but everybody has different risks tolerances. Just now we are glad ours is pretty low.
I'm 34, with 4 properties. I'm house hacking a duplex in St Petersburg right now. I bought my first place at 23, and became an accidental landlord when I got orders to move. I've been growing it slowly, but looking to scale soon.
@Ryan Hazelwood - Appreciate the diverse population you've brought together!
As for me, I'm 24 and currently own 0 investment properties. I am aggressively ramping up towards my first house hack. My strategy so far? Fund an emergency savings account (1/2 a year of salary), build retirement funds (Roth IRA, 401(k) - $10K/Yr), and develop a more liquid stock/fund portfolio that will bring in additional capital gains and dividends as I reach my down payment goal. On top of this, I've been using BiggerPockets and local REIAs to educate myself as I prepare for the REI journey.
I hope to come back to a post like this in about a year or so with a good report out for my first property!
36 I have 2 rentals. Both condos. I bought our first one in Ewa Beach, Hi (2/2) 4 years ago. I guess I did a really long BRRR process because I just remodeled the whole thing and in the process of refinancing now to purchase another property. Last year November I bought a second condo in Mililani, Hi (2/1). Bought it as a turn key under market value from a flipper.
I accidentally got started. I thought it would be cool to own property in Hawaii so knowing nothing I bought my first place at asking price. I have been extremely lucky with this purchase. I will never buy like this again.
Last year I read several books on money, real estate, changing the way you thing, and how to understand people. After this I started looking for my next deal. I came across a flipper who just flipped a condo and met my criteria for turnkey and was able to purchase it with a good amount of equity in the property.
I have educated myself and continue to educate myself everyday. I have also been able to educate and show my significant other how real estate can be another source of income and she is excited to start. My 5 year goal is to produce a monthly passive income of $5,000.00. I am now on the hunt for properties that meet my numbers and criteria
I am 29 years old and my wife and I own 5 single family homes. We rent two out as short term rentals in Surf City, NC and 3 long term rentals. We are near Camp Lejeune, NC (largest USMC base on east coast) so we get a lot of military families as renters.
@Ryan Hazelwood 29 years old. 7 total units. 1 triplex, 1 quad. Now that they are stabilized and under property management, TIME TO SCALE in North Carolina!
I'm 29 and I own 2 duplexes, 1 SFH, and a 70 unit self storage facility. My first was two years ago I bout 1 duplex and a house on an owner finance deal from the same person. Second duplex was through a bank. Storage facility was owner finance. All rents increased since then. Highly recommend finding owner finance deals. My plan, keep chipping away each year. "The best time to plant a tree was 20 years ago, the second best time is today." -unknown.
@Nicholas Lohr age 45, four rentals with a 5th two family by permit that we live in with a separate apartment. Suffolk County, Long Island. Wife would like to upgrade current residence so we may turn primarily into a rental. Market on Long Island is crazy high so the market will determine that goal. We have three bedrooms, two and a one. I would like to add to the mix, but like I said prices on Long Island are crazy high.
I’m 26 and own 2 Rentals (both doubles) bought my first one 2017 when I was 23 and and the second one at the very end of 2018 before I went overseas with the military. Just closed on a primary residence for my family in May. Currently looking at trying to acquiring another multi unit this year if the numbers work. In my opinion the current market is very intriguing yet kind of daunting for investors due to Covid and rent moratoriums. A lot of landlords may be overwhelmed due to lack of rent and may be forced to sell, at which point a very good deal for another investor may present itself. Be patient, if you see a deal snatch it but don’t rush, I have a feeling there will be a lot happening in the rental market over the next 18 mos
I'm 33, my husband and I have 5 SFH's. 4 fully rehabbed and have been rented out. (All BRRRR) 1 we are in mid rehab of the last one and always have ours eyes open for new inventment oppurtunities. We started about 4 years ago, and it was slow at first to save up for each one, but now that they are generating profit, seems to make the ball roll a little quicker!
I'm 39, my wife and I have 1 duplex, 1 townhouse, and 3 SFH's. We got started about 3.5 years ago after becoming an accidental landlord. We bought a primary residence in Kentucky and about a month later I was offered a job with a significant pay raise in North Carolina. We moved and found great tenants who paid on time every month and took care of the house for the last 3 years. We just recently decided to sell it. The tenants moved out and we got it ready to sell and it is now under contract after a day of being listed. Our other rentals were traditional buy and hold deals. We are now looking to do our first flip and BRRRR deal.
I'm 36 and started this journey sept. 2018 so getting close to 2 years in. I am currently up to 8 properties totaling 21 units. Only one single family. 7 of these i own by myself and a 5 unit with a buddy of mine. I am currently working with two buddies now and we have a PA on two duplex's and writing up another PA on a single family. It has been a fun ride and now i'm enjoying working with other people to help grow some more. Learning so much as I go and learning which direction i want to continue in. I'm actually looking into selling a property for the first time as well so I can have some cash to invest with my two business partners on some larger properties! Hoping to be at 30 units by the end of 2020.
I'm 39 and own 2 triplexes. One in Santa Barbara and another in Paso Robles, CA. I just completed my first 1031 to acquire the Paso property. My plan is to start investing out of state once I can make better sense of covid's impact.