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Updated about 8 years ago, 10/15/2016

User Stats

616
Posts
547
Votes
Amy A.
  • Portland, ME
547
Votes |
616
Posts

Met my $100k cash flow goal!

Amy A.
  • Portland, ME
Posted

A few years ago I set a goal of $100k of rental cash flow per year. This month (it's only Sept!) I made it! Started in 2007 with a 5 unit, another 5 unit in 2008. Tried to sell around 2010 due to frustrating tenants, thank goodness they didn't sell! Added a SFH in 2012, a 5 unit and 4 unit in 2013, and a 12 unit in 2014. Did tons of capex in 2015, and now have met the goal in 2016!

I earned my down payments by fixing and flipping foreclosures.  I have done 17.  Now I realize my goal was too small and am under contract to develop a mixed use commercial property and purchased another 4 unit this year.  These will be professionally managed as I give up management duties of the portfolio little by little.

Of course, I couldn't do this without my husband who is the "second set of eyes" on the numbers and is my (often reluctant) emergency plumber.  We always agree before we purchase anything, except for one foreclosure that I bought online, but he wasn't mad when we made $37k.

User Stats

282
Posts
165
Votes
John Burtle
  • Real Estate Broker
  • Illinois
165
Votes |
282
Posts
John Burtle
  • Real Estate Broker
  • Illinois
Replied

That's awesome!!! Congrats and keep up the good work

User Stats

439
Posts
150
Votes
Dave Carpenter
Pro Member
  • Investor
  • Cedarburg, WI
150
Votes |
439
Posts
Dave Carpenter
Pro Member
  • Investor
  • Cedarburg, WI
Replied

Congrats!
Sounds like a goal many on here would have, myself included.

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    User Stats

    42,060
    Posts
    61,877
    Votes
    Jay Hinrichs
    Professional Services
    Pro Member
    #4 All Forums Contributor
    • Lender
    • Lake Oswego OR Summerlin, NV
    61,877
    Votes |
    42,060
    Posts
    Jay Hinrichs
    Professional Services
    Pro Member
    #4 All Forums Contributor
    • Lender
    • Lake Oswego OR Summerlin, NV
    Replied

    nice work have you figured out your net cash flow  that can be stacked up to buy more.. I take it you reinvest all cash flow or accelerate paydown on your exiting to get them paid off as soon as possible.

    business profile image
    JLH Capital Partners
    0.0 star
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    User Stats

    42,060
    Posts
    61,877
    Votes
    Jay Hinrichs
    Professional Services
    Pro Member
    #4 All Forums Contributor
    • Lender
    • Lake Oswego OR Summerlin, NV
    61,877
    Votes |
    42,060
    Posts
    Jay Hinrichs
    Professional Services
    Pro Member
    #4 All Forums Contributor
    • Lender
    • Lake Oswego OR Summerlin, NV
    Replied

    Sorry I thought you meant per month   :)  so its about 10k per month and 100k per year.. good job.

    keep at it..

    business profile image
    JLH Capital Partners
    0.0 star
    0 Reviews

    User Stats

    78
    Posts
    48
    Votes
    Craig Kleffman
    • Reseda, CA
    48
    Votes |
    78
    Posts
    Craig Kleffman
    • Reseda, CA
    Replied

    Congrats! Great work! It's inspiring.

    User Stats

    133
    Posts
    72
    Votes
    Karen Bickford
    • Investor
    • Bolton, MA
    72
    Votes |
    133
    Posts
    Karen Bickford
    • Investor
    • Bolton, MA
    Replied

    Great job Amy! Keep up the hard work. 

    User Stats

    58
    Posts
    23
    Votes
    Bob Mason
    • Pittsburgh, PA
    23
    Votes |
    58
    Posts
    Bob Mason
    • Pittsburgh, PA
    Replied

    that's an inspirational story. Congratulations!

    User Stats

    105
    Posts
    40
    Votes
    Nirmal Khanderia
    • Investor
    • Leander, TX
    40
    Votes |
    105
    Posts
    Nirmal Khanderia
    • Investor
    • Leander, TX
    Replied

    Very inspiring, Amy A. Your vision and hard work paid off.
    One day, we too will get there👏👏👏

    User Stats

    59
    Posts
    19
    Votes
    Roberto Moita
    • Investor
    • Templeton, CA
    19
    Votes |
    59
    Posts
    Roberto Moita
    • Investor
    • Templeton, CA
    Replied

    That's awesome!! Keep doing what works.

    User Stats

    9,365
    Posts
    6,550
    Votes
    John Thedford#5 Wholesaling Contributor
    • Real Estate Broker
    • Naples, FL
    6,550
    Votes |
    9,365
    Posts
    John Thedford#5 Wholesaling Contributor
    • Real Estate Broker
    • Naples, FL
    Replied

    Great story. This is more proof for anyone that has doubts about the power of real estate investing. They have something called the "mile high club" for certain fliers (@Jay Hinrichs may be able to explain that one:)....but maybe we should come up with a club name for people pulling down over 100K a year with rentals? 

    User Stats

    616
    Posts
    547
    Votes
    Amy A.
    • Portland, ME
    547
    Votes |
    616
    Posts
    Amy A.
    • Portland, ME
    Replied

    Thanks everybody! @Jay Hinrichs No, I am not accelerating paydown.  In fact, I am trying to buy 4 unit buildings specifically to lock in low rates for 30 years.  My others are on commercial loans with 5 year fixed rates, which makes me a little nervous.  $100k per month would be nice, lol!

    User Stats

    1,748
    Posts
    338
    Votes
    Ayodeji Kuponiyi
    • Investor
    • King of Prussia, PA
    338
    Votes |
    1,748
    Posts
    Ayodeji Kuponiyi
    • Investor
    • King of Prussia, PA
    Replied

    @Amy A. well done! Truly inspiring. Please keep us updated on future progress.

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    User Stats

    155
    Posts
    62
    Votes
    Bernie Huckestein
    • Rental Property Investor
    • Apopka, FL
    62
    Votes |
    155
    Posts
    Bernie Huckestein
    • Rental Property Investor
    • Apopka, FL
    Replied

    Really great Amy! Hope to catch up to you soon. Nice to hear from another mainer.

    User Stats

    24
    Posts
    4
    Votes
    Daniel Singh
    • Homeowner
    • Brooklyn, NY
    4
    Votes |
    24
    Posts
    Daniel Singh
    • Homeowner
    • Brooklyn, NY
    Replied

    Great work Amy. Any tips for new investors following in your footsteps? As it can seem overwhelming at times.

    User Stats

    970
    Posts
    1,652
    Votes
    David Zheng#4 Real Estate Deal Analysis & Advice Contributor
    • Investor
    • Saint Louis, MO
    1,652
    Votes |
    970
    Posts
    David Zheng#4 Real Estate Deal Analysis & Advice Contributor
    • Investor
    • Saint Louis, MO
    Replied

    Amazing!!! Love these kinds of posts. Very very inspiration to young investors like myself :)

    Keep up the great work!!!!!!

    User Stats

    37
    Posts
    14
    Votes
    Peter C.
    • Investor
    • Felton, CA
    14
    Votes |
    37
    Posts
    Peter C.
    • Investor
    • Felton, CA
    Replied

    Congratulations; very inspiring!

    User Stats

    616
    Posts
    547
    Votes
    Amy A.
    • Portland, ME
    547
    Votes |
    616
    Posts
    Amy A.
    • Portland, ME
    Replied

    @Daniel Singh my best advice is to know your numbers (research to find realistic income and expense numbers, don't take the seller's or agent's word for it) and budget to pay others to do most of your improvements.   I like to do everything myself, but I got burned out at 10 units.  I reached a low point when the new floor I had personally installed, working many late nights, was destroyed by a tenant who never let her dogs out.  It brought tears to my eyes (or was that the ammonia?)

    User Stats

    53
    Posts
    12
    Votes
    Michelle D.
    • New Brunswick, NJ
    12
    Votes |
    53
    Posts
    Michelle D.
    • New Brunswick, NJ
    Replied

    Congratulations!  Now you have the potential for so much more!

    User Stats

    216
    Posts
    57
    Votes
    Mark Smith
    • Schaghticoke, NY
    57
    Votes |
    216
    Posts
    Mark Smith
    • Schaghticoke, NY
    Replied

    This is amazing.  I just bought my first two family in June and have been renovating the second floor.  Found a tenant for it and it will be filled on 9/15.  I hope to be at your level one day!

    User Stats

    285
    Posts
    97
    Votes
    Hersh M.
    • Engineer
    • Carlsbad/San Diego
    97
    Votes |
    285
    Posts
    Hersh M.
    • Engineer
    • Carlsbad/San Diego
    Replied

    @Amy A. Wow! Congrats Amy! I see you did not buy in 2009/10/11. Any specific reasons for that? Welcome any other advice for beginners.

    User Stats

    38
    Posts
    19
    Votes
    Sharon Seiter
    • Wooster, OH
    19
    Votes |
    38
    Posts
    Sharon Seiter
    • Wooster, OH
    Replied

    Very inpiring!  It's so great to know that this kind of cash flow is achievable through gradual, intentional building of a great portfolio.

    User Stats

    616
    Posts
    547
    Votes
    Amy A.
    • Portland, ME
    547
    Votes |
    616
    Posts
    Amy A.
    • Portland, ME
    Replied

    @Hersh M. I wish I had purchased at that time,  because there were great deals!  I could have had a neighboring property with lots of parking that I need for only $30k plus lots of repairs. 

     I didn't buy because I was burned out and hated being a landlord.  Bad tenants can really suck the life out of you.  Also, my husband was working very long hours and our kids were too young to leave alone, so I could only deal with rentals during school hours.  We were also doing flips, one of which was over 100 years old and a major time sucker with no profit.  I've made all the mistakes but have learned from them!

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    User Stats

    63
    Posts
    35
    Votes
    Cheryl Crockett
    • Real Estate Investor
    • Baltimore, MD
    35
    Votes |
    63
    Posts
    Cheryl Crockett
    • Real Estate Investor
    • Baltimore, MD
    Replied

    Great news for the new week! Congratulations!

    User Stats

    1,887
    Posts
    1,261
    Votes
    Andrey Y.
    • Specialist
    • Honolulu, HI
    1,261
    Votes |
    1,887
    Posts
    Andrey Y.
    • Specialist
    • Honolulu, HI
    Replied
    Originally posted by @John Thedford:

    Great story. This is more proof for anyone that has doubts about the power of real estate investing. They have something called the "mile high club" for certain fliers (@Jay Hinrichs may be able to explain that one:)....but maybe we should come up with a club name for people pulling down over 100K a year with rentals? 

    Yep! $100k cash flow per year won't net you a private jet, but $100k/month will certain get you on your way :)

    User Stats

    9,365
    Posts
    6,550
    Votes
    John Thedford#5 Wholesaling Contributor
    • Real Estate Broker
    • Naples, FL
    6,550
    Votes |
    9,365
    Posts
    John Thedford#5 Wholesaling Contributor
    • Real Estate Broker
    • Naples, FL
    Replied

    @Andrey Y.

    Who needs a jet? Just make sure your friend owns one:)