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Updated over 1 year ago, 06/27/2023

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

Beat my 10 Year goal in 1.5!!! :D

David Zheng#4 Real Estate Deal Analysis & Advice Contributor
  • Investor
  • Saint Louis, MO
Posted

So Dec. 2015 I started my real estate adventure. I'm a huge numbers guy so I love my spreadsheets and planning my financial future. Thus based on a 20% down per property mindset, I tried to gauge what I could realistically achieve with a 60k salary. If I lived like a boring robot living on rice and beans, I would be able to buy ONE property a year and reach a 10 property goal by the time I was 35, which I thought would be my freedom number.

Well on May 4th, 2017 I officially closed on my 10th property and more than doubled my fulltime monthly income through just rentals!! Yes I am still at my W2 job and I plan on staying here for a while because I like having multiple streams of income. Plus as my goals get hit, I aim for higher and higher dreams which my job will help me achieve.

 So here's the order of properties I've bought

1. Condo 2. Condo 3. Condo 4. Condo 5. SFH 6. SFH 7. SFH 8. Triplex 9. 4-Plex 10. Duplex

Many ask how I was able to buy that many properties as a noob middle class salaried investor in his first couple years of doing all of this.Well I've probably used every strategy in BP. BRRRR, Cashout refinances, Family/Friends/Investors, Business Loans, HML, etc. etc.

I encourage everyone to seek their own answers and research themselves rather than asking me to hold their hand on each of my deals and try to replicate. I haven't done anything too much more different than thousands of other people have done on here. Really, you just have to learn how to work 12-14 hour days for a months and be OPEN to being said no to and be OPEN to learning.

and no I had no mentors or personal gurus to help. All I had was good old google, youtube, and most importantly. Bigger Pockets  :)

So where am I headed now? If I've learned anything, its that the sky is the limit. Don't compromise and don't sell yourself short, because you CAN do anything as long as you work hard/smart enough. In saying that, I want to hit a passive income of at least $1million/year. Lofty? hell yes, but why not? As my dad has always said to me, aim for the highest achievable goal. Even if you don't get there you will get where you deserve to be and you'll know you tried your hardest.




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