In contract for my 70th rental

[Brandon Schlichter]

And the reason for this post more than anything is to say that since day #1 I was told over and over again not to get into SFD and small multi-family units and get into apartments instead.

Equity in properties has grown considerably. My goal has been to invest in B class SFDs and B-C class multi-family properties. So far it seems to work now, having said it I'm 4 years into the whole process.

Dealing with lower end properties has resulted in all sorts of....interesting...events. Had a meth lab, a few overdoses, had a machete fight in one of my rentals, and other crazy things. However we've been pretty darn profitable when it's all said and done and I am very much planning on continuing this strategy/method for as long as I can.

Self-managing the ~50 I have now (In contract for another 20 from just one seller) hasn't been too bad. I decided early on to hire a good maintenance guy and he's been worth his weight in gold since he communicates well and helps a ton dealing with tenants. The other side of that has also been he's a little bit expensive, or was early on when I had significantly fewer rentals. 

Starting out I had hoped to do the BRRR strategy however found out real quick that banks hate low end rentals and properties under $50k, which many of mine are. I've had some recent luck with finding lenders who deal regularly with these kinds of properties, however they're slow to lend.

But at any rate I'm hoping by next year that I'll be able to hit 100 rentals, then I'll consider pivoting to larger apartments however with as profitable as SFD & small multi-families have been, I might just hire some people to help me manage and keep buying more.

[Levi T.]

Congrats on the 70th unit. As I'm sure you have figured out, it's all down to your operating model and how well you follow the rules you put in place. Focus on scaling it up, hire people and put them in place to allow you to focus on making deals and funding them. You could have a few hundred units in a year, if your three pilers are firing on all four.