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Updated over 4 years ago,

User Stats

106
Posts
54
Votes
Khaled El Dorry
Pro Member
  • Casselberry, FL
54
Votes |
106
Posts

How have you done about building your teams?

Khaled El Dorry
Pro Member
  • Casselberry, FL
Posted

Hello, long time lurker here. Wanted to seek some advise on how some folks with 8-5 jobs have scaled their real estate property acquisition.

I currently own 3 SFH's and under contract to close on a new build duplex (all in Florida). I started buying in 2017 and all the properties have cash flowed and I'm happy overall. Due to the nature of my job I chose to go with turnkey and I'm quite satisfied with them. Only gripe I have is turnover has been higher than I would have liked but I am still cash flowing $1000/month and duplex will cash flow $700/month (despite a large hit in year one where I was $3K in the hole because of vacancy ) and at least according to Zillow the properties have appreciated a good amount.

The reason I'm soliciting advise is I want to get into 4 plexes and according to my math I need 6-8 more to hit my financial goals. Doing this with turnkey is going to cost me close to $700K in cash and I want to go the BRRR route but I can't commit the time to it as I work 70-80 hours per week easily.

So how have the W2’ers here gone about building their teams? I have a contractor and agent I trust. The route i want to take is buying at auctions but I need help partnering with a driver and someone to represent me at the auctions and clear the title and manager the project primarily. Could use some advise on how to vet them, hire them, pay them, etc...

I’m pretty good at running numbers and mining data and I have the bandwidth to take that on right now.

The long term goal is once I acquire these properties and refinance them I will start flipping some to take the cash and pay off the debt on my rental properties and own them free and clear. Thinking this is a 7-8 year affair but wouldn’t mind being more aggressive with a good team and a disciplined approach.

Any help would be appreciated in that department. Thank you.

  • Khaled El Dorry
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