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Updated about 8 years ago,

User Stats

5
Posts
2
Votes
Ian Coyle
  • Investor
  • Rochester, NY
2
Votes |
5
Posts

9 unit slow and steady

Ian Coyle
  • Investor
  • Rochester, NY
Posted

Thanks to the Bigger Pockets forums, blog posts and podcasts, etc -  along with some mentor friends and good ole' fashion research (including Rich Dad Poor Dad) I am here to offer a grateful thanks to people on here who have taken the time over the last few years to help out this newbie, and also offer my own success story report with a question.  I started investing inn January 2014.  I am now at 9 units cash flowing $250-300 per unit and ready to make the next move.  (I would have 11 units but did some work on my personal residence and sold off my fist one for some cash).  All financed.  These are 3 duplexes and 1 triple all in Upstate, NY.  I am now considering my next move and again turn to BP.  Because of appreciation, I likely have 110-120K in equity with my four properties.  I am considering adding 2-3 more properties (4-6 more units) these next 12 months (by basically taking some FT income from job + cash returns monthly off present rentals to save for more down payments) OR scaling up with a 1031 and getting into a single apartment complex in the 400-600K range with similar cash flow margins.  As always, any and all thoughts appreciated!  Thanks. 

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