buying 4 fixer uppers at once

[Kellen Bradford]

I'm looking to sell my home soon and pretty sure I'll make close to a 100k profit based off homes that sold in my neighborhood. I see 6 or 7 homes in my city around 45k for sale that I would love to buy to fix and rent. I'll be new to the whole landlord thing but anxious. I know people on this site say buy 1 home to fix and rent to get your feet wet but would I be crazy to buy 4 and spend the next year fixing to rent ?

Also putting 15k to each home to buy and financing the rest if possible would be great so I could use the extra money towards rehab etc. I want to jump right in but wondering if buying 4 would be a bad idea and why? Any obstacles from experience anyone can share please let me know 

[David Chwaszczewski]

@Kellen Bradford I agree with @Adrian Chu:

First it is not CARZY to think like this, we all have.  I say you are ambitious not crazy and thats a good thing. :-)

Are you sure that 15K will cover the rehab on each property?  I know it sounds good, but speaking from experience we have all been down the road of 15K budget that turns into 20-25K easy on a project.  You don't want to have one property sink you because of unforeseen issues and you don't want to rob peter to pay paul on any project.  Also if you are going to live in your fixer upper and rehab multiple houses it will be a daunting task and you could burn out quick.  My suggestion is grab one and detail every aspect of the process (budget, repairs, problems etc).  This way you can see what you thought it was going to be like and what it actually was like.  Just my two cents!

Best of luck!