BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 2 years ago,
16 long term rentals at 33% ltv, need guidance
Hello everybody,
I currently own 12 rentals out of state average purchase price is approximately 65,000 each average income is $950 a month per property
I also have four long-term rentals in California combined value of approximately 1.5 million with loans of approximately 580,000 average rents is approximately $1900 per house
My ultimate goal in. The next 10 years is the own 100 rentals And live off of the positive cash flow
My question is what is the best way to scale my portfolio reasonably over the next 10 years
For the past 10 years I have just been doing the BRRRR strategy, Would it make sense to just do this team strategy on a little larger scale?
For example what is it comfortable LTV to maintain over all of the properties and how much liquid cash should I have per property put away in case of vacancies repairs and unforeseen circumstances?
What are the most ideal lending relationships I need to create and can anybody point me in the direction of someone who has grown a similar portfolio in a similar timeframe?
The homes that I ike to buy right now gross 16 to 20% per month and net approximately 11%
I have always shied away from too much leverage because I was really hit hard in 2008 through 2010 and I still remember those dark days
Any advice or feedback would be greatly appreciated
Thanks