All Forum Posts by: William Benefield

@Barry Mountain I'm looking for something similar except I have been paying cash for all the properties I've purchased lately and I'm looking to pull some of the money to buy more.

@John Leavelle what % of occupancy do you use when calculating the 1% rule. Do you go for 100% occupancy and let the 50% rule eat vacancy or do you use a decrease occupancy when you first run the 1% rule?

I am under contract on a multifamily (12 units) that needs rehabilitation. The cost for Reno is 165k. Property is 200k. I have 250k cash to invest. Own many other properties (all paid for with cash). Looking for my best finance option. I have 30days to close as of yesterday.

I see my options as finance the property and use my cash to rehab or pay cash for property and get a construction loan.

Thanks for your suggestions.

Jay, thanks for the referrals. 

@Thomas S. Me and you are different people. I love the challenge of new business ventures and if I ever get to a point of looking at them the way you do I will hang it all up.

@Sam Grooms Thank you Sam for your referral.

@Jason D. I have around 80 units now that I have purchased as one offs. I will only be focusing in my new plan on 50+ unit complexes. I need a place to get rid of cash all the while making a great return on it. I am very active with every business I start or buy. At least to the point of creating the systems of running the business. I'm a numbers guy.

You see though 500k per year is a fair amount of free cash to invest into this business that alone does not get me to 5k units of good solid number units. I'm looking for people that have similar holdings to chime in on how they got the properties they have and what creative avenues they used to achieve the rapid growth.

@Theresa Harris I definitely would purchase properties that fit my model.

@Sam Grooms Thanks a lot for your comment Sam.

@Theresa Harris I buy and sell businesses currently so I have a proven strategy for creating systems. Since to me this is simply another business I will hire a team to oversee the property management companies that are handling the properties. My picture also has a full time accountant, acquisition manager and financing manager. Over simplified description but once its rolling I can add or remove positions as needed.

As to why my goal is what it is that's really more of a personal thing and not really what I want the point of discussion to move to. I have financial freedom and could retire now so money is not the only factor for me. I'm a very competitive person and I'm mostly in it for the win. 5000 units has a ring that I like.