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Updated about 5 years ago,

User Stats

6
Posts
0
Votes
Michael Mikhjian
  • Investor
  • Detroit, MI
0
Votes |
6
Posts

Turned 30, own 12 units generating an average 13% cap-rate

Michael Mikhjian
  • Investor
  • Detroit, MI
Posted

Just turned 30, finally grew my portfolio to officially 12 units (Just under $2 million worth) generating a healthy avg. 13-15% cap-rate on each unit with traditional financing over the span of the last 4 years. 

I've designed my own software (I'm a full stack software developer) that automates / manages all my properties, I am my own property management with turn-key properties and on-demand contractors for everything, so rarely do I have any issues managing. 

I'm looking to expand faster and larger but not sure where to start yet. For one I have my created management software I'm debating whether or not to take public and license out (Key is automation, which is my speciality in software design, that allows very minimal overhead), but at the same time I'd like to take my concept of buying / flipping to rent out to a new level... not sure if it makes sense to go private REIT or what but I'm ready to take what I've designed and built to the next level.

Time to time I think to myself... if I had an extra $1-2 million in cash I know exactly what I'd do (hence the private REIT idea), but I am continuing to add 3-5 properties/year with my own cashflow.

I've been able to acquire all my properties based on several algorithms I've designed (I have a whole slew of formulas including my own in-house comps-calculation that identify cap rates out of the box based directly from realcomp data)... I've got a list of properties to go after but I'm purely limited by man power and faster cash. 

Thoughts? Comments? Looking for any advise!

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