All Forum Posts by: Travis Beehler

So far so good!  The tenant pays every month, I never have had to hassle her for rent, never had her be late, sometimes she pays in advance.  I have had zero repairs in that year.  I wish all my rentals were like that!

I have always been condo-adverse however this year I decided to try an experiment and buy a condo (with a partner).  The unit was only $16,000 and rents for $725.  If I subtract the condo fee then it's like getting $525/month in rent.  (It's a little more than that but I'm rounding up.)  Because I was able to get the unit so low-priced I thought it was a good experiment and see if I will change my mind about condos.

Hi all -

I've been a long time lurker on BP and am happy to say I've listened to every Podcast and read as many posts as I can.  My passion for real estate started with rehabbing because I love turning old run down properties into updated homes that families can enjoy.  I did a few rehabs back around 2002 as a hobby and then took a long hiatus from real estate.

This year I decided I wanted to get serious about investing. I hired a mentor in January to teach me how to wholesale off the MLS and quickly did two wholesale deals. I can definitely say that I don't love wholesaling but appreciate all those out there who do.

In April of this year, I was about to wholesale my third deal for a nifty $10k profit when my mentor recommended that I start building a rental portfolio.  So I purchased the house for $56k and it currently rents for $1k a month.  I quickly found a second house with very similar numbers a month later.

I continued to build relationships with realtors and was approached with a six house deal for $320k.  All the houses have been completely remodeled and have tile throughout along with updated kitchen and bathrooms.  The investor who owned them was moving to another city and didn't have the stomach to be a long distance landlord.  I just closed on those six houses which each rent for $1k a month each to bring my total to eight houses.  

Next month I'll be closing on my 9th house which is bringing me very  close to my goal of buying 10 rentals this year.  All houses are in Class C subdivisions and I purchased with 20% down loans.  

Thanks to everyone who helped answer my questions along the way and to the BP folks who share knowledge and continue to motivate through podcasts and articles.  I hope this motivates others to follow their dreams.

Happy Investing!

Ehab

Just joined the BP site and wanted to put my 2 cents in. I started like most immigrants. You come to America the land of opportunity. You work and make money. You save and work more and make a little money. You save some more and then you start thinking is that all there is to life. 

I always wanted to invest and do something on my own since I finished college back in India but you get a job and rat race starts. 

Well happy to say that I started investing seriously and with 18 months accumulated about 14 properties. Rest is history as they say. At 40 I was able to walk away from my job. 

It's was big milestone for me because it gave me the freedom to build my own real estate business. I mostly invest in Single Family properties. The goal is get them all paid off before I am 46. At this point I at 53 properties. The goal is 125. 

Just a few short years ago I would never though this was possible. 

Start kids off as early as possible.  Whether it be shopping for supplies at Home Depot, viewing properties or helping clean up.  Never to young to get them started.

@Sharad M. Yes those properties (and all of my rentals) are in the Tampa Bay area of Florida. I've been able to find great numbers locally without having to deal with trying to invest remotely.