Tarik Kafel

I officially got into real estate in 2016 at age 26. I was renting in South Boston (established, pricey neighborhood) at the time for $1100/month. I purchased a 3 BR/1Bath Condo in Dorchester (up and coming neighborhood next door) in Oct 2016 for $366K, and rented out two rooms to friends for $700 each to help pay the mortgage. Eventually friends moved out and my girlfriend/fiance moved in. The area didn't develop as we thought it would, but the market was still surging. I sold at 530K in Oct 2021. Those proceeds helped us by a new build 3BR/2.5 Bath Condo in the Jefferies Point area of East Boston, which we love. At the beginning of 2022, I wanted to reinvest my remaining proceeds from the Dorchester sale into a pure investment property. Properties in greater Boston were pricey (800-900K for a two family) and didn't produce much cashflow. I looked an hour west to Worcester MA (close to where I grew up), and a friend put me in contact with a connection selling his three family for $685K. We closed on this March 2022 and as of Oct 2022 are currently receiving about $300 in pure monthly cash flow per unit. My goal is by age 45 to invest 100k a year in the stock/real estate market, and have enough pure cashflow from investment properties to support my current monthly personal expenses (about $11K a month), giving me the option to retire from my W-2 if I so choose. As I learn more about scaling (3 family, to 6, to 12...shoutout "Multifamily Millionaire"!), I believe I can make this happen by 40. I am excited to explore the best way of doing this based on market conditions, whether that be raising my own capital, partnerships, cash out refinancing to accelerate property acquisition, or refinancing to maximize cashflow per property. I am also very excited to be on BP and learn from others who have done this for much longer than myself!