How I went from 0 - 20 properties w/out investors or my own money

[Brian M Sweeney]

If anyone would like to hear the insight please let me know. 

[Brian M Sweeney]

I'm not saying this is the right or wrong way to do things but it was the way I did.  The mentorship I have had along the way from real estate investors with millions in property has been priceless. 

I bought my first real property on foreclosure for roughly $16,000 cash, under my own name. Put $5,000 of upgrades into the property. It appraised for $65,000. I went and got a HELOC on that property for $42,000 (paid myself back the 21k I orignally put up). I bought the property in my own name to win the over investors and because I knew I wanted to do the HELOC, which you can't get on a investment property. This was the only property I bought in my own name.

The remaining $21,000 I used to buy 2 other rentals, one for 40k (10k down payment) and one for 32k (7500 down payment). The property that was bought for 40k, appraised for 72k at which I got a cash out refinance for roughly 32k back in cash. 

I then found a foreclosure for $12,500 that I decided to flip..used the 32k as payment for the house and the remaining 20k for improvements. I also used another 5k of my own money. The house sold for 118k, netted 100k and ended up clearing around 70k on the property and used the 1031 provision to avoid tax implications. 

Rolled the 100k into a 4 unit property which cost 140k. I did a cash out refinance on this property as well and received around 60k back in cash. Paid myself back the 5k I used on the flip and bought a foreclosed duplex for $17,500 cash and a 7 unit complex for 198k (40k down payment). 

The duplex that was $17,500 needed some work. I used 10k of my own money to upgrade the property. It appraised for 75k. I did a cash out refinance and got a check for around 45k. 

This allowed me to pay myself back the 10k and buy two more separate duplexes. Both were around 50k. 

Obviously there is much more detail that went into this process but this is the overview how everything worked out. They currently gross around $14,000 per month.