Austin (neighborhoods with easy access to The Domain (2nd downtown))

realestate

#42

Did he tell you how he did it?


#43

I think if you want to go after cashflow you gotta do multifam.


#44

He’s doing a mix of multi fam and others. he’s actually running a newsletter, and owns a property management company.


#45

Why is it that engineers will do anything to get out of engineering


#46

he was not an engineer :slight_smile:


#47

Houston is not in a good spot with global warming.


#48

Worked for google right?


#49

Maybe we should buy Austin multi-fams.


#50

Buy a PM company, you would have 100 doors :slight_smile: Don’t think is that expensive.


#51

PM just manages doors. They don’t own nothing.

They could be good profitable businesses though. Very low turnover. Maybe buy a few and have a monopoly in a market?


#52

tomato’s colleague runs a PM company yet he said owned, so you can also say you own 100 doors :slight_smile:


#53

No no, he does own 100 doors, and manages many more (paraphrasing his sentence).


#54

So how did he finance buying 100 doors?


#55

Average rental quality house price in Houston = $200k
100 doors = $20M, possible with $2M downpayment?


#56

He probably did the game consistently. Buy low, improve, take equity to buy more, and eventually make connections for more loans?


#57

Too vague. Can you interview him for something actionable?


#58

Also I noticed many people have fractional ownership of something but make it sound like they are the sole owner. I don’t know if @tomato’s friend is like that. That’s something I noticed a lot on bigger pockets.

Say someone arranges a syndication deal of a 20-door multi-fam, owns 5% of it himself with the rest financed by the syndicate. But he would tell everybody he owns 20 doors.


#59

his isn’t syndication. I would believe his numbers, doesn’t have to be sfr, though.


#60

If so I’d love to see the play-by-play.


#61

Probably multi family. If so 100 doors is nothing special.