I have a thought I'd like to run by you all to see if you think it's actually doable.I have a goal of having 1,000 rental property's here in Oklahoma in the next 25 years.Here's the breakdown1,000 rentals all bought for 120k or less after all expenses1000 rentals renting for 1200$ per month on avg1000 rentals each at 600-700$ monthly mortgage1000 rentals will $2,500 or less property tax each year1000 rentals with insurance costing 1,500 per year or lessNow let's run the numbers1000 rentals 20% down on a max of 120k = $24,000 per house or 2.4m for allProperty management fee monthly $120,0001000 houses with $700 30 year mortgage = $700,000 monthly1000 houses with insurance costing $1,500 a year insurance = $125,000 a month 1000 houses with $2,500 property tax each year = $208,333 per month Total costs = $1,153,333 per monthTotal revenue = $1,200,000 per monthTotal cost for 1,000 property's out of pocket over 25 years = $2,400,000Total value of 1,000 properties 120,000,000Monthly profit after the 30 years would be though the roof at $453,333 a month.I know theses numbers are really rough but the only one that's 100% for sure is the 1,000 rent houses.Do you think this is too crazy to achieve?

The common areas, pool, roof, etc are association property and not on your balance sheet.How much did you pay for the property?

The home had a new roof last year and everything else is original to the time it was built.

Come on folks did you really you could get a roof installed on a property for $8k using American workers?

Another factor is that I don't think there is any more than about five years on the roof.

I have been selling my small properties at 11 and 12 cap and they all get new roofs, windows, furnaces, flooring, kitchens and baths as soon as I buy them.

I know with a new baby that sounds unrealistic but just might be the best option in the long run, I'd keep looking for another property you have a roof over your head and can still manage for awhile where your at.  

Landlords,If you want free consultation time to have any of your properties roofs/gutters/siding inspected for damage cause by the elements reach out.

Insulation needs a permit....roof replacement needs a permit...etc.Jurisdictions are different, but if you own the home in an LLC and you are technically not the homeowner (the business is) then you cannot pull a permit yourself unless you are a contractor....this can get a little sticky depending on where you are doing the work.  

We essentially stripped the house down to studs and replaced everything - new HVAC, new electrical, new plumbing, new roof, drywall, carpet, tile, kitchen, bathroom, you name it!