Growing Portfolio

[Jordan Santiago]

How do investors build their property portfolio and pay for new investments when they are busy paying off the mortgages and expenses on their last investments. Like i see some people acquiring 10 units a year and i just don't know how that works. I would like to get to a good 60 units by the time I am 30 (age 19).

[MJ Calabrese]

Jordan, it was easy to prior to the market collapse in 2008. Then if you had a pulse you could get multiple mortgages for little to no money down. 

If you're single and serious about diving into getting 60 units I would make your first buy a multi unit. Live in the worst apartment and rent the others to live for free. Save the money you would be paying in rent for your next down payment When you buy your next multi, move into that one so you can get a residential loan and do the same thing. As you continue to pay down debt and increase cash flow you'll be able to use your houses as down payments once you have enough equity built up. Then it's just a numbers game. 

Best of luck in your endeavors,

MJ