This topic seems like one of the first questions Real Estate investors ask each other. If I include passive investments in syndication, my numbers are significantly higher. Do you count those units as additional doors in your portfolio?
No- because you’re such a small percentage owner. I am 1/50th of a syndication so if I cared, I could count 3 doors- not the 150 doors there. I only count stuff I own myself or with my one business partner. Basically I count stuff i control. But i don’t care to wear my door count on my name tag and let everyone know so it doesn’t matter to me.
@Adrien S. Thanks! I agree it doesn't ultimately matter. I was just curious about how others are calculating. I see you are a realtor and investor in Indiana!
As a passive MF investor, when someone asks how many doors I have, I respond with a straight face and tell them that I have about 5500 doors*. Then I add that in many cases, I own only the door knob or perhaps the sawdust created when the peephole was added.
* Entered 50 MF deals since 2010, 15 have sold, so the 5500 doors are in the current 35 deals.
The folks that are asking me are attempting to gauge the value of my opinions. I agree that is sound like boasting and is questionably accurate, but in my world of MF, it is the accepted practice.
Im in a bunch of REITs, that would give me probably 50,000 doors :)
I would only add doors if you are part of the GP/Manager of the ownership entity.
If you purchased the property and are rehabbing, that is a door you own. Are you flipping in Georgia? I am going to start looking for properties in Atlanta. I partner with flippers by lending funds and sharing in the profits with seasoned investors. Let me know if we would benefit from a connection. @johnteachout
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