Advice on Where to Go from Here

[Rusty Thompson]

Some of you know me, some of you don't. I've been on BP for 3 years & went to the summit. I'm not as active on BP as I would like to be, but life conspires. That being said. It has been a busy 3 years for me & the things that I have learned from BP have allowed me to build a nice little B&H portfolio. Jeff S. & I were discussing my investing via private message & I decided I should make our private discussion public. I am looking for some advice on where to go from here. 

My original business plan was to acquire enough rentals by time I turned 35 to retire from my 9-5 and invest full time, I'm 32 now. For the last 3 years (off & on) I have rehabbed, rented, bought & saved. And I have done well. Now I am reexamining my goals and trying to decide on the best way to move forward. So I am looking for some advice on the most efficient way to move forward.

Some rough numbers:

My portfolio

SFR1 2/1 PITI 620$m Rent 795$m Exps. 20$m [email protected] Value 95k

SFR2 3/2 PITI 720$m Rent 1195$m Exps. 0 [email protected] Value160k

SFR3 4/2 PITI 840$m Rent 1195$m Exps. 120$m [email protected] Value180k

SFR4 3/1 PITI * Rent 900$m Exps. 100$m Owe *

8Plex 13/8 PITI 1420m Rent 5000$m Exps. 500$m Owe 142k @ 9%** ValueIDk

SFR5 3/2 PITI 1100$m Rent 1200$m Exps. 300$m Owe 106k @ 9%** Value180k

Notes:

* Loan pays for both SFR3 & 4

** Hard money 5 year balloon loans. 8plex has 4 years remaining. SFR5 has 5 years.

I just purchased SFR5 last month w/ a 30k$ repair escrow that I will begin remodeling next spring. I am currently renting out the rooms to cover the holding costs.

About me:

I am currently single. I have no living expenses because I live in the apartment attached to the shop on SFR5. I have been "house hacking" since I started this and have not had living expenses for the last 3 years that were not directly associated with expanding my portfolio. I don't have any other debt than my RE Loans. I am not planning to stop "house hacking" in the near future. When I started I had just gotten a raise  to 37k from 31k. Last year I received a raise to 52k.  

I was pretty much doing all the work myself (Landlording, Repairing & Rehabbing) until just a couple months ago. I hired a guy recently to help out with the Rehabbing. I still work 80hr weeks, but things are getting done a lot quicker than they have in the past. 

I am open to all suggestions & don't be afraid to ask anything.