Did he tell you how he did it?
I think if you want to go after cashflow you gotta do multifam.
He’s doing a mix of multi fam and others. he’s actually running a newsletter, and owns a property management company.
Why is it that engineers will do anything to get out of engineering
he was not an engineer
Houston is not in a good spot with global warming.
Worked for google right?
Maybe we should buy Austin multi-fams.
Buy a PM company, you would have 100 doors Don’t think is that expensive.
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?
tomato’s colleague runs a PM company yet he said owned, so you can also say you own 100 doors
No no, he does own 100 doors, and manages many more (paraphrasing his sentence).
So how did he finance buying 100 doors?
Average rental quality house price in Houston = $200k
100 doors = $20M, possible with $2M downpayment?
He probably did the game consistently. Buy low, improve, take equity to buy more, and eventually make connections for more loans?
Too vague. Can you interview him for something actionable?
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.
his isn’t syndication. I would believe his numbers, doesn’t have to be sfr, though.
If so I’d love to see the play-by-play.
Probably multi family. If so 100 doors is nothing special.