All Forum Posts by: Jared Smith

@Jared Smith - has to be option 1 or 3 and would go with option 3 as long as you are not breaking your financial analysis criteria (e.g. ROI, CoC return, monthly cash flow, etc). I'm not sure what option 2 gets you, other than maybe peace of mind, but what fun is that?

It sounds like you're off to a great start, keep it up!  

@Jared Smith - you need to work with lenders that will lend based on the property and not your W2 income.  That's how I was able to grow my portfolio to 127 rentals in 5 years.

My cash flow now from my 10 SFRs is 4k/month..not counting vacancies or cap ex. They’re all on 15 year loans. My goal is to cash flow 12k/month when they’re paid off. I have a W2 job that I love and have 15 years until retirement. So I’m not depending on any of my rental income. 

I got into real estate 5 years ago and wanted something to diversify my portfolio a bit vs having all my retirement and 401k investments in the stock market  I’m loving real estate so far and actually enjoy self managing my properties. Good luck!

John, thank you very much and if you run into any helpful tips over the years please reach out! I am rethinking my strategy after Covid-19 passes with outsourcing property management if I continue to grow. I am currently at 10 units and working through 1 tenant turn and 1 possible eviction. I love your strategy and have a similar path and thought process - Good luck to you as well!

I am at more than 20 doors. I want to learn more about the industry and continue to refine my skills. I am trying to surround myself with experienced people and soak up as much knowledge as possible.

Eventually, I would like to live off of my passive income.

@Jared Smith personally, I would build the portfolio as quickly as you can. Things go wrong in real estate just like with any investment class. If you have just one or two properties and something goes wrong ie. vacancy, HVAC replacement etc, you'll feel the pinch a lot more than you would if you have other properties in your portfolio offsetting an under performing one.

 How many doors are you at now?

We've been practicing 1 and 2 for the last 10 years and it's pretty amazing when you look back at the wealth that was created with a little luck, a little sweat and a little patience.

Good to see another OHIO and ARIZONA investor. 

Stone - Very small world! Let's definitely connect. I used to work in Toledo and Chandler is about 20 minutes from me in Scottsdale. That is great to hear! What does your rental portfolio look like? I am in the same camp as you but also realize the opportunity cost and the ability to acquire more properties. I am a big believer in buying more and never selling!

@Jared Smith personally I have been doing the slow acquisitions, number 1. I am a big believer in not over extending and putting myself at unnecessary risk. However, like others here have said, once there is a really solid foundation in place and you have a strong structure, teams, finances, etc..., you could definitely ramp it up.