All Forum Posts by: Michael Maurice

I am trying to find the larger owner/operators to share best practices with.

I own, operate and manage 100+ SFR in the Atlanta area while also focusing on expanding the portfolio.

Looking for others who 100% wholly own and operate their 100+ unit portfolios to learn from.

You need to define millionaire.

Net worth or annual income. Two very different things.

@Paul Sandhu stopped collecting rent in person years ago. To many safety issues. Switched to RentPayment.com and have never looked back.

Now running the business, handle issues anywhere in the world. Been in a taxi in Paris discussing a clogged toilet. Was on a cruise ship (4 drinks in) discussing a burglary. Had a text conversation high over Arizona closing in a property.

If you have the cash to buy those, and the deal makes sense for your criteria, then suck those up. Once you have them stable, take them to the banks and pull the money out of them. Do it again.

If you don't have the cash, then you need to find a bank and determine what they are willing to do for you and how much cash you will need to make it happen. 

I have 103 SFR properties and 3 loans. We are about 30% leveraged, so still have a lot of powder in the barrel, just nothing good to buy right now.

Personally, I started with a little cash and got into my first batch of properties out of pocket. I took that bundle of homes to a bunch of local banks and found the best deal. Pulled the cash out of those as a line of credit and then pulled off that line to buy the next round of homes. Wash, rinse, repeat.

If you are in the single-family arena, you will eventually graduate to larger portfolio loans where one piece of paper is collateralized by multiple properties.

I have always self managed my properties. Currently have 87 active SF doors. Across the entire year, I maybe spend 10 hours/week managing them and most of that is handling maintenance calls and collecting rent. I have 3 full time maintenance guys who, when not doing the maintenance calls are either turning over properties or rehabbing new ones. I strategically focus on Section 8. 80% of the rent comes in automatically, I have no issues finding tenants, and once they are in a home almost never move.