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Updated almost 12 years ago,
New member from Greentown, Indiana
My wife and I started investing in rentals about 10 years ago. We still own our first unit (single family condo). 30 yr loan and 10 yrs later wish we could just dump it off our books. You might hear more later on it (LOL). When the market changed about five years ago we started to buy more up. We currently have two SFR, one condo and two muti units.
One year ago this past January ( due to a need in our family and in the area we live) we launched our property management business, Pinnacle Property Group, Inc. PPG manages seven properties plus our own properties.
Three years ago we started to rehab and flip properties as well. We have completed and sold our first in nine months from day of purchase! We are in the process of completing our second in the next few months. Both properties were full rehabs.
We try to use this as a second source of income (Suzie my wife is our GC/ contractor work ;-) she is a "stay at home" mom!!!!!) I work for a large company in thier maintance division and assist her on GC /contractor work.
Some goals for our businesses are: We wish to increase our flip business without taking Suzie's hand off the GC/ contractor work. We want to buy and hold a few more SFR's while the market is down and increase our inventory for management We have read many books and websites through the years , but BP seems to have the largest knowledge we have found yet. Wish we found it sooner.
Hope we can help others and pick the brains of some of the greats on BP as we go!!