Quote from @Grant Stuard:
I have listened to some podcasts, and have heard people saying they got their first 7 properties in 11 months. Some even crazier. I have 5 properties, but I have used all my money to purchase these properties at 25% down and now I am renting them out. I would like to have 30 rentals (that is my goal) and I have the deals. I just don't have the capital to move all at once. I know there is private money lending that can fund some of these new construction deals, but I don't want to sell them for profit after. I want to keep them as rentals. Are there lenders that would let me pay them like a traditional mortgage? (over that long period of time)? What do you guys think I can do to get 3 properties a month?
I feel you. It can be discouraging. We are in a similar position on door count and I've listened to a ton of content, read books, etc. Here are the commonalities that I've observed:
1. They have an investing system/framework that they know, or believe in enough to act as if, works. They are confident in the acquisition, management, and dispo of properties. This makes them confident to actually execute. This is an often overlooked component. One commenter here noted that he was purchasing distressed inventory off market and/or using creative financing, delayed financing, private money, or all of the above. Yes, this is great and definitely works. The part that is not stated is that there is a whole sales and marketing engine that needs to be set up to execute on this. And that either takes time (tons of time) or money (can cut the time or just hire labor and advertising to start the business engine), neither of which you're likely to put into this without a strong belief that it will pay off.
2. They have a financing system. They either have lots of money, have a deal pipeline which reduces out of pocket cash, partnerships, private lenders, hard money, bank relationships, or some combination of the above. It takes money to make money, no matter what. The exception is where you're putting in "sweat equity" to create a great deal for yourself, but that takes knowledge and time at the very least (or marketing $), and your time is worth something. So not really an exception.
3. They have deal flow.
4. They have relationships.
You can find examples of people who have succeeded highly with just one of these components, but the more you have behind you the better off you'll be to scale quickly.
To get to 3 properties a month, start building out the system for yourself to do this. I would focus on relationships and deals. Also, it's pretty tough to buy 36 properties/yr, even if it's your full time gig. But buying 1 40 unit property/yr.? Probably a lot easier.
