All Forum Posts by: Darren Campbell

@Joe Splitrock

Thank you very much for the clarification. So to be clear I will need to multiply 50% by the amount I would be financing correct? Not the sale price.

Also how would you recommend learning what multiplier to use whether it be 1.5% or less?

I recently read Brandon Turners book on Rental Property Investing. I talked about the 2% (rents should be 2% of sale price) rule and 50% (rents should be multiplied by 0.5 - principal and interest if mortgage) rule. Which of these do you typically use first to analyze deals quickly?

@Brian Adzadi

I 100% agree. I’ve only had the loan for 3 years and I have a 3.25% rate. The only reason I was considering paying it off 100% is then I would have roughly $2800 of cash flow from that building per month. My end goal is early retirement and that would allow me to reach my monthly cash flow amount goal with less buildings to take care of and worry about. I understand I would not be able to receive the same long term goals as someone who leveraged more and purchased more doors to get to the same cash flow goal. Less buildings to worry about and less tenants to manage seemed appealing. However for wealth building purposes and longer term success I 100% agree with the comments.

I’m debating paying off my current 4plex or saving for a 12 plex. I want to retire early and can save about 70,000 a year. Any tips to accelerate my success?

I’ve been trying to maximize my investment potential. Currently my wife and I are able to put away $5,750 away each month into a fund for real estate. We currently own a 4plex and duplex in our home state. 4plex is worth about $440,000 and duplex $350,000. 4plex I owe 372,000 and duplex 297,000.

My goal is to reach 6,000 a month of cash flow minimum. We are looking to leave state once we reach this point. Preferably want to move to Washington state. How do you recommend I reach this goal as quickly and efficiently as possible?

Here is the idea I have in mind. Save 310,000 by Dec 2023. Purchase a 12 plex with 25% down leaving us 60,000 cash for reserves. Then dec 2024 put down 25% on a minimum 4unit property. Do this again mid 2026. Then move to Washington with an fha loan on a 4 unit. Live there one year then buy a duplex in 2027. 24 units times 250= 6,000 a month.

Does anyone know of a better way to reach this goal without hard money lending? Any other creative ideas?

I recently got into real estate in oct of 2016. I work a full time job and earn about 70k a year. I have a duplex and a 4plex but want to buy a minimum of 8 units in WA state this year. I’ve got excellent credit but am short on cash with just $30,000 in savings. I’m more interested in getting a turnkey property although i would consider a BRRR if i was more comfortable with It. I need the upfront cash to get into the loan. Any ideas?