I am 27 with a goal of owning 75 doors by age 40. I will be buying my first property in the next 2 months. I'd love to talk with someone who owns around 75 doors to understand common pitfalls and what their day-to-day looks like. I don't intend for this to take all my time, maybe like 10-20% of it. Lmk if you are down to chat. I appreciate any time/wisdom you are willing to share with me!
Investor · Costa Mesa, CA · Member since 2016 · 1k+ posts · 1k+ votes
1y
You don't need "75 doors." Owning 75 high maintenance, high vacancy "affordable" crapboxes will be a day to day nightmare. Buy fewer but better properties with lower maintenance and ultimately higher cash flow and appreciation. Collect money, not properties.
Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
1y
The answer must be, "it depends".
Do you own these 75 doors 100% yourself? How strongly are they leveraged? What are your financial objectives? How much pride to you take in making them great places to live? All of those questions and more will determine how hard you are working and what you are doing.
My wife and I manage 830 doors with over 200 investors. Our goal is to deliver great profits for them (and ourselves) and provide a great place for residents to live. We spend more time on our business than we did when we were working W2 jobs.
One of the things we like about the business is that no two days are the same. There are constantly new opportunities to be leveraged and new problems to be solved. It keeps us very busy.
Investor · Costa Mesa, CA · Member since 2016 · 1k+ posts · 1k+ votes
1y
You don't need "75 doors." Owning 75 high maintenance, high vacancy "affordable" crapboxes will be a day to day nightmare. Buy fewer but better properties with lower maintenance and ultimately higher cash flow and appreciation. Collect money, not properties.
Attorney · UT · Member since 2025 · 33 posts · 59 votes
1y
With a goal like this, something you will need to take into account is an asset protection plan. Real estate investing is an inherently risky area to navigate in terms of liability. Especially when you are just starting out, you want to make sure that risk is mitigated wherever possible. With a small portfolio when you can handle less risk of loss, separating each property owned into an LLC to limit your personal liability and isolate one property from another is a good way to go. That way if a lawsuit due to some kind of accident on a property happens, any judgement is limited just to that LLC and that property rather than putting your personal assets and other properties at risk. As your portfolio and your risk tolerance grow, grouping properties becomes more reasonable.