All Forum Posts by: Carlos M.

@Joe S. Sorry I missed the other question. All the properties are in our “back yard”. All within a 15 -20 minute drive from me.

@Joe S. We both worked very modest jobs. I was an automotive tech and wifey worked for a local hospital. We started out with $60k in home equity. We purchased value add properties improves them did a cash out refinance and kept that original $60k growing. We never spent a penny of the cash flow and just kept reinvesting it... the power with multi families is in the cap rate. For example our last 3 properties we purchased look like this.. 3 years ago purchased an 11 unit for $600k. We spent $25,00 to rehab it and increased the NOI by $2,500 per month. The increased value looks like this. $2,500 x 12 months = $30,000 annually. Divide that by our market cap rate of 7% gives you an increase in value of $428,571. So now that property has a value of $1,000,000. We did a new loan at LTV AT 75% of the new appraised value. We walked away with $300k at settlement. We deployed that cash into a 16 unit for $1,100,000 last year. Did a similar process and we just bought a 29 unit for $1,700,000.... it's the ability to force the value through increased NOI where the real leverage is in multi family. I'm SURE single family would be easier to manage. But you can't get that kind of appreciation in a few months. That deal I talked about where we pulled out $300k... that Reno took me and my maintenance man 5 months! That's some serious equity build up. You have to decide what works for you and your goals.

@Joe S. I’m not sure what you mean by successful as that is open to everyone’s personal interpretation. But I will share what my wife and I have done.. we can say mom and pop as we have no investors. We started 11 years ago with multi family properties. Thats all we own and purchase. We currently own 86 units, 16 garages and 20 parking space rentals. We gross just under a million a year and net 30-35k per month. We do have a full time maintenance guy but no other employees. I will

Admit, It is a lot to keep track of!

@Patrick Bavaro congrats. Looks great!

@Joe Splitrock went full time investor at 41

@Ryan Hazelwood started 11 years ago with a $60k home equity loan. We now own 15 buildings with 91 total doors at the age of 42

Hi. We are settling on another property at the end of this month. We will then own 91 units. We manage everything in house. My question is, can someone that is experienced in management software recommend one?? I’m looking at buildium or app folio... I don’t see us growing past 125-150 units in the next 3 years or so...

@Wade Kulesa we are in our 11th year. We used 100% financing the entire way through. We started out with a $60k home equity loan. We are settling on a project this month.... where are we 11 years in... I quit my W2, we will have 91 units at the end of this month with a market value of 8 million. We now gross a month what we did in an entire year of w2. Dave is great for the average person who just doesn’t want debt and a comfortable easy retirement. I’m total opposite! I’m more of a grant Cardone personality.

@Whitney Bowling

So I have to question why you chose real estate as your investment vehicle? With all do respect , you want nothing to do with it. You want all the rewards with out any of the work... I would advise to be 100% passive and invest in syndications if you are an accredited investor.

I started 11 years ago with only the equity in my personal home. ($60k)... my wife and I manage everything and do all the maintenance on everything... was it long days, yup, was it hard work , yup! Fast forward to today. We own Na manage 66 units with a market value of over $6,000,000. We have no partners. It’s just her and I. We have another 15 units under contract. In the last 6 months of this year we will have added $2,100,000 to our portfolio. Our gross monthly rents are $60,000 per month. I no longer have. W2 and my wife will be retiring next year. I am in total control of my schedule and future all because I went all in real estate. My thoughts were , “ I’m willing to live a few years of my life like most people won’t , so I can live the rest of my life like most people can’t” I’m now in the later part... so basically I wanted to say, real estate can and will change your life if you go all in and commit to it 100%! But you will not have free time for a while... hope this gives you something to think about. Best of luck with what ever path you choose!

@Jeff Byrne, I started out exactly like you.... my first deal only spun off $400-500 per month.. friends and family saying rude and negative comments... I would never do that, good luck with tenants trashing your place, the 2:00 am clogged toilets.... fast forward 10 years.... friends and family work for me, they ask me to teach them the business, some ask to invest, and the ones that aren’t jealous all have massive amounts of respect for me and the business. In 10 years with zero investors!! And working as a automotive technician I went from zero to owning 62 units at a market value of $6,000,000 and grossing $60,000 per month. Looking to add another 15 unit deal at $1,000,000 to my portfolio by the end of this year... oh, and I’m retired and do real estate full time now... there is no magic plan or secret. Live below your means, work your *** off, ( 12-14 hour days to get started ) and NEVER EVER give up! I told my self over and over again “ I’m willing to live a few years of my life like most people won’t, do I can live the rest of my life like most people can’t )... well I think you know which side of life I’m in right now.