W2 side hustle progress in Connecticut- 2023 Update

[William Collins]

2023 Update time for my central Connecticut journey.

In 2022 to 2023 there's a major change to my why for doing real estate. Similar to @Ben Leybovich, my ability to maintain my W2 status long-term is jeopardized through a health concern. All of the planning that I've done so far in the building has set me in a decent place to succeed long-term but definitely derailed a bunch of what I really want to accomplish in 2022.

Beginning 2021 Breakdown summary: 1 six-plex, 1 fourplex, 2 triplexes, and 12 duplexes. Total units: 40

Beginning 2022: 4 duplexes in Manchester, 1 triplex, 1 five plex, 1 six-plex in Canton, 2 duplexes in Southing, a duplex and triplex in Berlin, and a duplex, a quad, and six-plex in Bristol. Total end units: 43

Beginning 2023:

Manchester CT – 4 duplexes, 1 quadruplex and 1 5 plex

Canton CT – 1 triplex, 1 five plex and 1 six-plex

Southington CT- 2 duplexes

Bristol CT- 1 duplex, 1 quadruplex, 1 six-plex

Berlin CT- 1 duplex, 1triplex

Goal 1: 50 units total in 2021- missed this. But on track to surpass it in 2022. Finally, hit this goal and will be plateauing for a while

Goal 2: Each building cashflows $1000 or more. Each door cashflows $300 an average. In the progress of weeding/ harvesting equity from duplexes which are good- but not great cash flowers. This was accomplished and is my new mark- on track

Goal 3: Create $500,000 of equity from forced appreciation. In progress, I have a line of sight to the creation but need to close on some units and start raising NOI. NOI continues to rise due to rent growth.

Goal 4: Controlled real estate passing $3,500,000 of value. This has been surpassed.

What are my main challenges:

1. Balance:
   1. Time vs health needs vs hustle
2. Expand mastermind
3. Shift to some AirBnb to design the portfolio.