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Updated over 3 years ago,
More Deals than Money Problem!
Hi BP,
I havent been on here in a long time. Just wanted to say I owe a lot of my success to the BP community and all the contributors.
Quick background on me now, I am now 24 years old. I own a multiple 6 figure, soon to be 7 figure wholesaling operation. I currently own 5 rental units with another 25 under contract to buy and hold. The smallest property is a duplex, and the largest property is an 8 family. I have become obsessed with buying all of the good multifamily rental property leads my wholesale business brings in because I know that is the true way to accumulate wealth.
So obviously I want to keep buying these properties, and I want to go into larger territory (25+ Units). As I am sure other people can relate to, we dont have all of the money to keep buying these properties.
I have read into and loved the idea of syndication since I was 21. For one of our 5 unit properties we raised 100k and returned it to them successfully via refinance. I would like to get more of a track record before I go down that road, but believe I can do it soon. I know there is:
-Raising Private Money (which we have done for flips)
-Syndication
-Going public as a REIT (down the road)
... and more. What would you be your advice to a 24 year old who wants to own 100 units by the end of 2022, and a billion dollars of real estate within the next 25 years?
Thank you.