What's the best way to grow my rental portfolio ?

What's the best way to grow my rental portfolio ?

Member since 2021 · 3 posts · 1 vote

I'm determined to grow the number of doors to 10 (eventually 100+), but I'm not sure of the strategy that I can use outside of banks.  I have joined a couple creative classes such as subto etc., but its moving slow and I haven't achieved my first creative deal. I feel like I am missing something and would really would like some feedback from those that have over 100 doors on how they did it, any advice on how to get where you are.   Appreciate any response, thank you!

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  • Investor · Cleveland · Member since 2021 · 247 posts · 240 votes
    3y

    Just takes time! Sounds like you have a few doors already so you're on the right path. It's a grind to get past the early stages, but once you get to the point where one deal starts paying for the next... then you'll really see some growth. Creative financing can help, but you don't need it to get to 100+. 

    I'd say just keep learning, keep looking for good deals, keep growing and stay consistent. It'll come.

  • Benjamin AakerPro Member
    Rental Property Investor · Brandon, SD · Member since 2015 · 1k+ posts · 1k+ votes
    3y

    Take a look at the equity you have in your 10 doors. You may be able to leverage that equity with lines of credit to purchase the next one. If you aren't in multifamily, this can help you work to your goal. Also, consider looking at it by the equity build with the properties you own rather than number of doors. You can have a bunch of doors and not make any money. You might do better with fewer doors. Equity build is the thing that gets you to financial freedom. 

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