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Updated over 6 years ago on . Most recent reply

User Stats

132
Posts
61
Votes
Johnoson Crutchfield
  • Rental Property Investor
  • Tupelo, MS
61
Votes |
132
Posts

A new investor all over the place

Johnoson Crutchfield
  • Rental Property Investor
  • Tupelo, MS
Posted

I have now acquired about 35 rentals in a very short period of time (15 months).  Almost all of them are on 5 year/15 amortizing notes cash flowing an average of $125/month.  I only have one private money investor who invested once, and I've been BRRRing with that money to get this far.  I'm starting now to feel like I need a full-time employee if I want to keep growing, and local banks are slowing down on how fast I can acquire new rentals.  I've got 3 properties I plan to flip before the end of the year to try to help build some cash reserves.  I want someone to look at what I've written here and help me decide 1) whether to grow and add employees and 2) whether I need to hire a mentor to help me make sense of where I am right now.  Some days I feel like all the maintenance calls checks going out each month just isn't worth it, but most days I want to head towards my goal of $10,000 cash flow a month.  I've also thought about reaching out to one of these major portfolio lenders and putting everything on more fixed long-term debt to increase my cash flow, but I like the idea of paying everything off in 15 years.  I know interest rates may go up in 5 years though......  Maybe this when I start writing a book?   I guess this is scattered, but let's see what kind of responses I get.  

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