1,000 rental houses does this seem reasonable?
Jeff B. I own 2 now my goal is 250 in the next 25 years. You need to stop being all knowing how do you know I haven't had a job as a property manager?!! Maybe that's the reason I feel comfortable doing 250 SFH.
People like you are the ones in this world that try to bring people down. Offer no solid advice just try to bring people down with the posts.
I laugh at all that are like you and when I hit that 250 house goal I'll look back and see your still going nowhere posting negative things.
Hope you can sleep at night knowing your one of those people. Hopefully just on the internet and not in your real life because that's even worse.
Mark Allen In 5-10 years I will look t going that would you mind explaining more on how that process works? Just buy bulk properties from other investors or what?
My new goal is 250 houses in the next 25 years,
@Peter G. That's a really big goal. Someone recently asked me what would be my Fantasy Goal. I chose $1M income in the next 2 years. After thinking about it for a while, I realized that there are people who do this in less than one year. So, I don't think it's something that can't be done anymore, but I do realize that I'll need help and guidance in making it happen.
The size of the project you are proposing goes way beyond a do-it-yourself program. You'll need to develop a team of professionals, even hiring some of them full time in your own corporate enterprise.
Can you do it? There's only one way to find out.
Originally posted by @Peter G.:Jeff B. I own 2 now my goal is 250 in the next 25 years. You need to stop being all knowing how do you know I haven't had a job as a property manager?!! Maybe that's the reason I feel comfortable doing 250 SFH.
Wonderful. Massive long term goals a frequently met by those forming achievable short term goals and progressive refining their approach along the way. Truly hope you can avoid stubbing your toes with your attempt to eat the elephant in one bite.
Your right, I don't know you and I still learn things every day. I doubt we could be friends as you have yet to learn the value of the devils advocate.
Urgh - 1,000 cheap rentals. Sounds terrible.
Why not 50 fantastic rentals in great locations? Or better yet, 5-10 properties, with a nice mix of commercial and large multifamily. Plentiful cash flow, WAY less management, WAY simpler than 1,000 individual units.
Jeff B. Sorry for being so rude I used to get picked on so now I'm pretty guarded when I feel like someone is trying to be rude I tend to put my guard up.
I do wish you all the best!
Originally posted by @Peter G.:Jeff B. I own 2 now my goal is 250 in the next 25 years. You need to stop being all knowing how do you know I haven't had a job as a property manager?!! Maybe that's the reason I feel comfortable doing 250 SFH.
People like you are the ones in this world that try to bring people down. Offer no solid advice just try to bring people down with the posts.
I laugh at all that are like you and when I hit that 250 house goal I'll look back and see your still going nowhere posting negative things.
Hope you can sleep at night knowing your one of those people. Hopefully just on the internet and not in your real life because that's even worse.
10 per year, every year, can be done, but that is going to be a hell of a lot of work. Without a solid team as part of this effort my prediction is you will burn out in short order. What you are talking about is not a one-man operation, but a residential purchase & hold unit (LLC, etc). There are people on here with that many doors, past or present. Talk to @Jay Hinrichs, he will give you some insight on owning that many properties.
PS: You want to listen to the @Jeff B.'s more than you want to listen to the @William Brown's (no insult intended, William Brown - you are here for illustration). What good does it do to only talk to cheerleaders? Yes, there's a place in the world for moral support, but there are far fewer people talking you off the ledge with sound advice than there are dreamers who are telling you "Oh yeah, those things sticking out of your shoulders look like wings to me - jump!"
I prefer to hear from people who tell me that something won't work and why it won't work. That doesn't mean I'm going to listen to them, but it does mean I'll have one more angle to consider before I decide on my course of action.
Originally posted by @JD Martin:
PS: You want to listen to the @Jeff B.'s more
There's so much hype and "excessive exuberance" in REI, I fear a great many can't connect the dots that so frequently lead to "unintended consequences". There's enough of these already that we can't do much about but I just hate to volunteer for them just because I didn't do enough research.
Once I intended to create PM company for out-of-state investments, but when I found out that a Brokers License was required, that killed that idea. Sure glad I didn't get the cart before the horse and make the purchase first.
@JD Martin I agree with you completely, however I don't see it necessarily as cheerleading during the game, I look at it like the pep talk. What do coaches tell underdog teams before they go out and play the championship game? This won't work because of A B C and we won't win because its statistically impossible--no! They indeed tell them that it isn't going to be easy, but instead of condemning them to lose they inspire them to win.
If I am ever simply "cheerleading" someone into going down the wrong path please do call me out on it. That has never been and never will be my intention. I believe that BP, aside from the numbers and realistic thinking, was created as a support system. You can't go anywhere if you don't believe in yourself, and it is really hard to believe in yourself when no one else's believe in you.
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@William Brown their is cheerleading and what I call Blue Sky... like posted above I wanted to own 5,000 SFR's I made it to 350 before I cried uncle.. LOL...
But I know many who owne multiple hundreds.. the one's that do the best though have no debt.. they collected them over the course of 40 to 60 years usually in their 70 to late 80s with no debt.
Leveraging up all these homes with max leverage I think personally is highly risky...
But hey shoot for 1000,, or 250 end up with 50 not bad..
Got it.
Looking for a lender to lend $300MM at 0% apr so I can finance the 1000 SFRs I have across 50 states. Message if interested.
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@William Brown there are all sorts of those lenders just post money wanted on BP Linkdyn or facebook .. you might have to go to 2 or 3 % though but they will do 100% and they only require you to say your going to pay them back.. and of course they may want an unrefundable up front fee that will of course be credited back when you take down the first 100 million
Originally posted by @William Brown:
Got it.
Looking for a lender to lend $300MM at 0% apr so I can finance the 1000 SFRs I have across 50 states. Message if interested.
Good one!...
ah yes the only thing more valuable than 1000 SFRs is a sense of humor.
But seriously if anyone has the dough slip me a DM.
And please don't tell Josh or Brandon on me….my two biggest nightmares I used to have were of Adam Levine and Sasquatch.
Ya, buy in bulk and achieve certain economies of scale. Banks will lend all day on well performing portfolios. You can raise the equity if you don't have the cash...