4 rentals 2 paid off! I need examples of scaling done right? TY
It took me a while to pay off my first 2 rentals. I then bought a duplex about a month ago. I want to scale my business. I am real fortunate in my life right now bc I don’t have children and I’m not married so I can relocate and house hack if I need to. I just need a little advice and motivation I guess. Thanks everyone for your feedback.
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#5 All Forums Contributor
- Plymouth, MI
...or sell the two paid off properties. I know that you think that goes backwards, but it is in fact moving forward. If you sold the properties and reinvested the profits, you could buy 5 times the amount of properties. If they each had the same cash flow as the ones you paid off, you could have 10 times the CF...and now 10 properties instead of two appreciating.
Then, stop using your money to pay off the properties. That's going backwards. That's not saving you money, it's costing you more money. Your tenants were happy to pay them off for you...for FREE. Why help them? Put your cash to better use by turning them into 5 times their face value.