Met my $100k cash flow goal!

[Amy A.]

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.

[John Burtle]

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

[Dave Carpenter]

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

[Jay Hinrichs]

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.

[Jay Hinrichs]

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

keep at it..

[Craig Kleffman]

Congrats! Great work! It's inspiring.

[Karen Bickford]

Great job Amy! Keep up the hard work. 

[Bob Mason]

that's an inspirational story. Congratulations!

[Nirmal Khanderia]

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

[Roberto Moita]

That's awesome!! Keep doing what works.

[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? 

[Amy A.]

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!

[Ayodeji Kuponiyi]

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

[Bernie Huckestein]

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

[Daniel Singh]

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

[David Zheng]

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

Keep up the great work!!!!!!

[Peter C.]

Congratulations; very inspiring!

[Amy A.]

@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?)

[Michelle D.]

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

[Mark Smith]

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!

[Hersh M.]

@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.

[Sharon Seiter]

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

[Amy A.]

@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!

[Cheryl Crockett]

Great news for the new week! Congratulations!

[Andrey Y.]

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 :)

[John Thedford]

@Andrey Y.

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