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Updated about 6 years ago,
Scaling My Portfolio
Hello all!
I recently closed on my first rental property for university students, and have been getting a feel for being a landlord. Its barely been a month, but I'm already trying to think of ways to continue to scale and acquire more units.
As far as money goes, i have about $45k saved, i make $66k / year from my job plus another expected ~$5k / year for the property i just purchased.
I hear a lot about how people can scale up to like 100+ units in a year using crowdfunding, or they networked with some private money lender, or they found a great deal on 32 units with only $30k down out of pocket. Should i aim to go down one of these more creative routes? One big advantage i have is that I'm off Thursday -Saturday from my job so i can visit out of state areas and be back for work by Sunday.
Or should i just continue down the traditional route and try to acquire another single family unit with the money i have?