sneakaprince
care to elaborate more on the investment real estate side. What state? Do you have your own contractors? Do you look at duplex’s only? Or do you build up from a ranch let’s say.
Whats good bro? Hope all is well. Happy Hanukkah to you and your people.
I live in Wisconsin and I buy almost all of my property in the Milwaukee area. We have a **** ton of multifamily homes here many of which can be had for sub 300s. Hell 300 here can buy you a 4plex if you really go after it. I'm actually in the middle of a wholesale deal for 8 units at 520K. Going to sell it for nearly 700 if everything works out the way it should.
I do have contractors I've been working with but I'm kinda leveling up thus I've had to find better guys over the last year or so. My old team is always on deck but I won't front they were just "okay". They get the job done surely but I'm beginning to set my sights on higher end stuff and will need a more skilled team as I evolve.
Over the course of the last 7 years or so I've owned:
3 duplexes (2 of which I still own).
1 four unit apartment building (sold in October).
1 three unit property (duplex in the front of lot, single family in back of lot). (still own)
1 eight unit apartment building (wouldn't buy again but it was cool enough), (sold in 2016).
1 single fam (primary residence, still own, but hoping to sell in the spring/ summer).
I hate ranches but Milwaukee has a ton of those too. I grew up in a ranch and find them to be kinda boring but my realtor/ mentor always tells me they sell the fastest.
I'm a pretty big multifam or nothing kind of guy. I like knowing that even if one person falls short another tenant can at least offset that loss. Honestly I regret my single fam purchase even though I have probably somewhere between 80-100K in equity and I haven't done much work. It works for my family but I always think about how hard it would be to make the profits I'm used to if I transitioned it to a rental down the line. I could always refinance but I will probably just take the cash whenever we sell.
I've posted about my portfolio before and dudes always assume I'm up more than I am. I would say it wasn't until this year that I actually felt like I knew what I was doing and the money really began to show. Prior to I just owned a bunch of stuff and made a couple extra dollars every month. By no means am I wealthy. I actually still work a day-job and I do some reselling (not sneakers) on the side.
