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Updated about 8 years ago,
We did it! We hit our investment goal!
Last week we hit our investment goal of $35k a month gross rental income. We bought our first investment property in August 2011 and the vast majority of our growth has happened in the past 10 months. We (my husband and I) now own 21 buildings and 59 units in Chicago and Milwaukee.
If you have been following my story I did a podcast last July (www.biggerpockets/com/show78 ) when I had just quit my job and we were just closing on our first out of state properties. Since then life has been pretty crazy and I did an update 2 months ago on what has been going on ( http://www.biggerpockets.com/forums/223/topics/178935-it-has-been-8-months-since-i-left-my-job-and )
Life is still crazy, especially since we just got back from Mexico and are leaving for a two week trip to Europe this week… but I foresee a more steady and manageable pace moving forward.
It hasn’t been all sunshine and rainbows. We have had our fair share of problems. Some buildings were an easy takeover where the tenants stayed, paid rent, and didn’t cause problems. Some we had tenants leave in the middle of the night or leave the place trashed. Some properties were profitable from day one and some won’t be profitable for at least a year. The good thing is because we have scale it all balances out and we are not putting our own money into them every month.
BP has been such a huge part of my success. I gained the confidence I needed to go into this full time and have met some amazing friends who have helped me so much along the way.
I am looking forward to this much needed vacation and returning in June fully recharged and ready to go!
- Brie Schmidt
- Podcast Guest on Show #132