@Brittany Stradling I hope all is well with you.
I agree with a lot of what people are saying that there are multiple ways to accomplish what you are talking about. Slow and steady can multiple on you quickly if you are able to take advantage of the market. I was able to own and manage 14 units in a year and half because I used my resources around me and different financing methods. I brought my first property in Oct 2019 with a $10k investment from family and purchased a four unit. After having a conversation with my fiancé (girlfriend at the time) about her condo and equity, she realized she could refi her condo and pulled money out for a down payment to purchase a duplex. Finally in Oct 2020, we were able to get a commercial loan for an eight unit priced at $245k that was bringing in $4k a month, and our mortgage is $946 a month. The property was cashing flowing but needs some work.
Because of this last purchased and the cash flow that is coming in, I was able to walk away from my 9to5 and focus on my RE career while purchasing more investment properties. Getting my real estate license made this choice easier, because with my license it becomes another income stream to use for my investments and paying for everyday life. Even though I was able to own and manage 14 units in under 2 years, it took a lot of preparation to be ready to jump on an opportunity when it presents itself. I analyzed properties almost 6 months straight before I had the money, loan approval, and the right property to close on my first deal. As in most places, Milwaukee, WI (where I have all my investments) has gems if you are willing to invest in areas where others might not want to invest.
With you have the high-paying job as a resource, you could hire someone or get a trusted partner who can do the leg work of finding the property and running the analysis while you provide the capital for the deal. This will give you the leverage to scale, if that is what you are trying to do. With your access to a high paying job, you could find other people in your circle who want to invest and then you have your next deal with their money. The key to growing and scaling is OPM. Other People's Money. It is the only way to scale and to grow your business. Just like businesses use the stock market (OPM) to invest, you have to use the bank and other investors (OPM) to grow your RE portfolio.
I would like to finish off by saying, that being able to build a trusted partnership is the most effective way of growing quickly. I was able to get to 14 units because I partner with people close to me that had resources I didn't. I did not use any of my own money to close on any of my deals. I used OPM, but I had the knowledge and skills to put the deals together. Use your resources (your money) until you can use OPM to scale. I hope this helps you on your RE journey.
