New cash flow investor in Birmingham, AL

[David M White]

I have recently inherited 8 rental units and had twin daughters born. I have a four year old son also. Stemming from my inheritance, I have decided to leave my job in academia to be more active in raising my children and to grow the cash flow business. I am deciding whether to continue purchasing and renting single family units or attempt to find multifamily units. I would like to reach 60 units so that each of my children could inherit 20 units a piece when I pass. I have been around the business most of my life but have very little hands on experience. Any guidance would be much appreciated.

[Jamie O'Brien]

@David M Whiteundefined,

Congrats on the Twins! I'm also a father to 7 1/2 Month old twins girls. It's been quite a learning experience! 

It's exciting to see you jumping into this headfirst and 8 rentals is a nice launching pad to build your business. @Rob Drum made some very good points. Rob is a magician at analyzing real estate (from what I've seen). He has an email list and he sends out tidbits here and there from his analysis and research. It would be worth signing up for. 

Rob hit the nail on the head that you must figure out your systems, immediatley for maintenance, and growth of your business. I'm trying to grow a single family portfolio but always have an eye out for Multi's. Thanks for the connection, let me know if I can help in any way.