Hello BP Friends,
In early 2020, I set out a goal to purchase at least one property a year either through house hacking or through a good positive cash-flowing (CF) MFU.
I managed to do that for the past three years; and, due to macroeconomic conditions (high interest rates, demand/supply, etc), I was not able to execute the plan in 2023. Due to high interest rates, none of the properties were giving me good CF or broke even.
All my current investments and apartments are in the Bay area and I would like to stay within (a 20-50 miles radius) of the area and this also help with property management and my W2 job.
All my new purchases will be funded from other property cash flow and savings. I'm writing this post in the hope that some of you on this forum might have gone through this already and can give me some ideas and inputs to make progress toward my end goal of consolidating all small investments into a larger one by 2030-2035 using 1031.
1. What are the ideas or strategies that can be used to ensure to purchase of at least one property a year with good CF.. I do not opt to do major rehabs due to my W2 job/time dedication.
2. How would fund the goal of purchasing one MF property per year with existing units/savings? My current strategy has been a little changing to fund the 25% down on investment property, especially in the Bay Area housing market.
3. What would be your property management strategy? I'm planning to open a management LLC to circulate the spending within the biz. (LLC and management)
4. What's your exit strategy to consolidate all the small investments into a large complex in 10 years?
5. Tell me everything you have done to increase your house hackings and/or MF portfolio from 3-to-10-to-20-to-50 units.
Appreciate everyone's input on this topic. Thank you!
