Englewood, NJ · Member since 2018 · 464 posts · 88 votes
3d
eric's right. i spent most of this year chasing door count and looking back it was the wrong metric. one solid deal where the numbers actually work beats four mediocre ones every time. the mediocre ones just eat your time and your cash flow for years.
i'm focusing on deal quality now instead of volume. would rather close two good ones than ten that barely pencil out. the math has to work on day one, not "maybe in three years if the market cooperates."
Property Manager · Cleveland, OH · Member since 2026 · 28 posts · 11 votes
2d
@Igor GanapolskyThat’s a great way to look at it. If the deal only works when everything goes perfectly, it probably wasn’t a great deal to begin with.
Englewood, NJ · Member since 2018 · 464 posts · 88 votes
2d
@Roman Martinis Exactly — that's the whole screen. If the numbers need everything to go right, they're not numbers, they're wishes. I run everything through the downside first: what survives the sale, what's owed, what the file actually says. Most files die on the public-record pass before they ever reach a buyer — and that's the job working as intended.
Property Manager · Cleveland, OH · Member since 2026 · 28 posts · 11 votes
2d
Exactly. A deal shouldn’t need perfect conditions to perform. I look at it the same way from the management side — realistic rent, vacancy, maintenance and tenant risk should be part of the numbers before you buy, not surprises you discover after closing.
Real Estate Broker · Phoenix, AZ · Member since 2019 · 165 posts · 100 votes
2d
@Roman Martinis this is the number one issue with BP in my opinion. Too much focus on door count / units / portfolio growth, and less emphasis on increasing NOI, improving systems, and building a profitable business model that works in ALL market cycles. How many guest on their shows no longer have a business, have had to liquidate, or have completely jumped out of one niche into the next. That's not a business model, that's chasing money. Buffett doesn't jump from one business to another when fads or market cycle changes, he buys great company's and then sits for decades. Investor portfolios should mirror this. You only add a property if it meets 100% of your criteria, the numbers that work today will also work in a decade, systems are already in place to manage and enhance the property, the deal is appropriately priced compared to current value and future growth.
Property Manager · Cleveland, OH · Member since 2026 · 28 posts · 11 votes
2d
@Gabriel Graumann Well said. Door count looks good on paper, but it doesn't tell you whether the portfolio is actually healthy. I'd rather see 10 properties with strong NOI, good systems, and room to weather a bad market than 50 doors that only work when everything goes right.
Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
2d
@Roman Martinis Your question was fine. I am not going to correct it. Adding a number of doors in a year is a measurable goal. It should not be the only metric to the goal and should probably have some qualifiers such as "that cash flow at least $200 or more," or that "I walk into 20% equity," etc.
But to answer your question, I did not have a door count goal this year. My goal was to bring in 1,000,000 in profits. And I think I'm on track to bring in about $800,000, maybe a little more. However, I have changed my goal this month to payoff $1,000,000 of debt in the next 12 months. I took on a lot of debt in 2024 and 2025 just to get through those years of downturn and thought it would be over by now but it is not. So I have changed my model to flipping more in order to get more revenue and pay down the debt.
So I think I will stay around 40 personal homes right now and for everyone I sell I will replace it with another home and I will also flip on the side. I have the infrastructure to flip or sell 30 homes a year. So that is my door count. This year I have purchased 15 - 18 so far and I will probably pick up another 6 - 8 before the end of the year so between 21 and 26.
Property Manager · Cleveland, OH · Member since 2026 · 28 posts · 11 votes
2d
@Shiloh Lundahl That’s awesome, Shiloh. I really appreciate you sharing the numbers and the thought process behind them. This is exactly why I enjoy these conversations — hearing real experiences and different perspectives gives everyone an opportunity to learn from one another. I especially like the shift from simply acquiring more to strengthening the balance sheet and adapting the strategy to the market. Growth doesn’t always mean adding more doors; sometimes it means making the portfolio you already built stronger.
Richmond, VA · Member since 2019 · 358 posts · 181 votes
2d
We need to make sure we are factoring churn into our calculations. Even if we are adding new accounts, losing more than we gain means we will always just be chasing growth rather than actually achieving it.
Property Manager · Cleveland, OH · Member since 2026 · 28 posts · 11 votes
2d
@David Peschio Yes! Thank you for bringing this up. I actually just had a very similar conversation with my partner — growth means a lot less if you’re not retaining what you’ve already built. Churn definitely deserves a seat at the table when measuring real growth.
Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
2d
I’ve spent much of this year redesigning development projects, including reducing unit counts. I’ve also delayed two mixed-use projects because I concluded that their highest and best use would benefit from liquor licenses.
If you measure progress by how many housing units an investor acquires or builds, you might see that as a lost year. I see it differently. I’m responding to what I am observing as consumer needs and where the housing market is heading and delivering projects with a stronger path to stabilization. I expect them to generate substantially more annual revenue than the higher density plans I considered earlier. More units are not always the better investment.
Property Manager · Cleveland, OH · Member since 2026 · 28 posts · 11 votes
1d
@Stuart Udis This is a good example of why progress can’t always be measured by what gets built or acquired in a given year. Sometimes the value is in having the discipline to change the plan when the market is telling you something different. I like the focus on stabilization and revenue rather than forcing the original concept just to add more units.
Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 340 posts · 124 votes
1d
Quote from @Roman Martinis:
Investors — with 2026 starting to wind down, how are those yearly goals looking?
Did you pick up as many properties as you planned this year?
How many doors did you add — and how many more are you trying to grab before the year ends?
Out-of-state investors too — curious to hear what markets everyone is buying in.
Drop your numbers below
@Roman Martinis, one thing I’ve seen as investors add more properties is that the portfolio can grow faster than the legal structure behind it.
Adding another door is exciting, but I also like to ask whether the ownership setup, operating agreements, insurance, leases, and estate plan still make sense for the size of the portfolio today. I’ve worked with investors who built a lot over time and then realized everything was still set up the same way it was when they owned their first one or two properties. Cleaning that up later can be much harder than planning for it as you grow.
I’d be glad to stay connected, @Roman Martinis. I like this conversation because growth is not always about adding the most doors. Sometimes it is about making what you already built stronger.
Property Manager · Cleveland, OH · Member since 2026 · 28 posts · 11 votes
1d
@Diana Khan That’s a great point, Diana. The infrastructure behind the portfolio has to grow with the portfolio itself. It’s easy to focus on the next acquisition and overlook whether the foundation you built at 2 doors still makes sense at 20 or 50. I appreciate you bringing the legal side into this conversation — definitely looking forward to staying connected.
Englewood, NJ · Member since 2018 · 464 posts · 88 votes
23h
@Roman Martinis Right, and in tax deed buying "everything goes perfectly" usually means three assumptions stacked on top of each other: nobody redeems, title is clean, and the property is vacant. All three fail regularly.
Real one from my screening for the October 26 Broward County auction. Coral Springs house, opening bid $60,385 against a county assessed value of $579,530. On a spreadsheet that reads as a 90 percent discount.
The catch was the owner. It's an LLC named after the property's own street address, which tells you it's a deliberate single-asset holding entity. That kind of owner tracks the parcel and redeems before the sale. I also found a city code enforcement lien on it, called the city, and it came back at $414.59 and not accruing, so that part wasn't the problem. Redemption is.
The deal that only works if everything goes right is usually the one where nobody checked who actually owns it.