Building A Real Estate Empire

Slow last half of 2015, only bought two duplexes near the end of the year, did manage to get one of them for only $9,000.

25 total units, right around 16.8% cash return on amount invested. Been struggling with banks because of how low some of these properties are valuewise, and they really want to see me show 2-3 years worth of tax returns on the rentals before they'll lend more. Once I can get some leverage, the cash returns jump severely.

In the mean time I started streaming via periscope at periscope.tv/investmentjoy

I'm also posting the videos on youtube of me visiting various abandoned homes and pieces of real estate. In my 1st one I look at 3 houses but the last property gets cut off. Talk to a older gentleman who is liquidating his portfolio due to falling off of a 24ft ladder and breaking his back.

YT link is : https://youtu.be/jynp6TvBGKM?t=5m24s

Still trying to figure the best way to do a HD and lower quality periscope stream at the same time, suggestions would be good.
 


schockergd said:
In the mean time I started streaming via periscope at periscope.tv/investmentjoy

I'm also posting the videos on youtube of me visiting various abandoned homes and pieces of real estate. In my 1st one I look at 3 houses but the last property gets cut off. Talk to a older gentleman who is liquidating his portfolio due to falling off of a 24ft ladder and breaking his back.

YT link is : https://youtu.be/jynp6TvBGKM?t=5m24s

Still trying to figure the best way to do a HD and lower quality periscope stream at the same time, suggestions would be good.
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That old man should work for TMZ.. he has the dirt on everybody in town, lol.
 
So are you doing investment property or trying to be a reality TV star or investment guru or all 3 ???
 
ToddW said:
So are you doing investment property or trying to be a reality TV star or investment guru or all 3 ???
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Just trying to show people what it's like to be a landlord and in real estate.

IMO it's amazing fun and wish more people would consider a career in it, especially people my age (20s-30s), everyone wants to be in a tech startup and make fun of brick&mortar stuff.

Tuesday I'll be doing another live stream, visiting a property that was found to have a hidden room in it. Will be fun, likely won't run into 77 year old guys but will be quite interesting.
 
Still rolling along.

Bought 6 more rentals last month.

Will add another 7 near the end of this month. One was a pretty cool deal , my two first brick homes ever.

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1400 square feet, both are set up as 2-3 bedrooms but have a good enough of layout they can be set up for 4 bedrooms, totally fenced private yards and also have basements. The seller inherited them from his mom and wanted to get cash for a down payment.

$30,000 for both.
 
schockergd said:
1400 square feet, both are set up as 2-3 bedrooms but have a good enough of layout they can be set up for 4 bedrooms, totally fenced private yards and also have basements. The seller inherited them from his mom and wanted to get cash for a down payment.

$30,000 for both.
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Thanks for the update, schockergd.

If you're willing to share, what's a reasonable rent for units of that size in that area?
 
Fatbat said:
What was in the hidden room?
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Only things noteworthy was a old bobsled from the 50s and a boatload of extremely old oak 2x4s.

JakeStratham said:
Thanks for the update, schockergd.

If you're willing to share, what's a reasonable rent for units of that size in that area?
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Right now they're at $450/mo which is severely underpriced. If I kicked em out and went with HUD reconfigured as 4br houses I'd get over $800/month which would yield something like a 50% or better cash return on investment. Turnover averages about every 2 years on these so I'm more than happy to wait 2 years or MIGHT try and turn em into lease options or another hybrid type sale and get tenant somehow to mortgage em at $50k and put $35k in my pocket.
 
Still alive.

When we close on all that we have in contract it'll take us to 49 rentals total, all since mid 2013. Added a new investment partner while retaining another one, between capital outlays and what we're doing , we hope to hit at least 70 rentals by the end of the year.
 
schockergd said:
Still alive.

When we close on all that we have in contract it'll take us to 49 rentals total, all since mid 2013. Added a new investment partner while retaining another one, between capital outlays and what we're doing , we hope to hit at least 70 rentals by the end of the year.
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Congrats brah!

Just curious where you are buying these shitholes for less than $50k each?
 
5 years later.....

88 rentals

$1.4m or so total invested.

Total assets of $3.25m or so

$47k/mo gross income at 100% occupancy.

$39k gross income last month.

Closed on two laundromats in October, a sales rep for a large laundry company says that due to locations they should bring in $20k/mo, not sure where my cost basis will end up.

Fun fun fun.
 
How to build a real state empire, These are the start investing in real estate, build a first class in real state team, position your self resources, turn every conversation to real estate,and build a digital presence, or operate like a real estate. The invest using a self directed llc, buy a lots of properties. I was one year into my new job in scan Francois when i decided i needed to build a real estate empire.
 
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