“My units cash flow between $250-$350/door and the total cash flow of the portfolio is about $10-11k/month (accounting for vacancies as well). My average COC return at purchase is about 15% and long-term IRR is 20%+.”
Prop 10 will eat your 10k cashflow for lunch. Hmm… yummy. 
He has 28 units in Kansas City, well hedges against Prop 10
BlockquoteMy portfolio consists of 35 total units, mostly 4-plexes, with a duplex and some SFRs sprinkled here and there. 3 units in San Diego, 1 in Atlanta, 3 in Birmingham, 28 in Kansas City.
He will be okay.
managing 35 rentals is a full time job. Is he including his own cost while calculating the returns.
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I’m more interested in the total value of his 35 units combined.
Maybe he has no college education, joined Navy.
“What really helped is maximizing my income from my full-time job and side-business. I went from being active duty in the Navy (around $40k/year) to senior front-end engineer (around $150k/year) and running a profitable startup (another $150k/year) in a few years.”
“And what I came up with is a realization that I should treat this whole operation as a business, instead of just passive investing. So I focused on 2 things - building a network and a team of professionals to help me (property managers, agents, lenders, mortgage brokers, insurance guys, etc.); and training/teaching them to basically do most of the work for me.
The biggest challenge of owning this many units, especially all over the country is management. I never self-managed a single property. I have always used property managers and over time developed a set of criteria for picking them, and a system for keeping them accountable.
I don’t get into day-to-day operations, but I basically groom each of my property managers to do the job for me in a way where I’m satisfied. It takes some work up front, but overtime pays off big time, as mutual trust and understand develops.”
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He is propmoting his startup in a way not too annoying
“Anton Ivanov
DealCheck - RE Analysis
https://DealCheck.io”
Not very clear if he has a full time job or whether this is his full time gig. I personally dont see how he can manage 35 rental properties without putting substantial time.
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Yes, he works full time as a senior front end engineer. Also has business in addition to his rentals.
senior front-end engineer (around $150k/year) and running a profitable startup (another $150k/year) in a few years.
This guy gets the right idea. In any case, his startup is not targeting at rich Bay Area landlords.
For cheap units in Kansas and such depreciation is a real expense. If you buy a house for 50k the value of that house will go to zero in 30 years meaning the yearly maintenance will be more than 1/30 of 50k.
This guy has it backward. He has lots of income it seems so he should shoot for appreciation not cashflow.
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Hey guys,
Late to the party, but i’m the OP in the originally linked post, so thought I’d answer any questions you may still have. Some of the unanswered ones:
- I don’t manage any of my properties, they all have PM’s in place. I work full-time in other ventures
- The total value of my portfolio is around $4mil right now.
Anton
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That would mean 3% cashflow, not bad.
Just so it’s clear - that’s the total property value, not the value of my equity. Equity is about $1.4mil.
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Are your rentals concentrated in Kansas City? Where do you see new opportunities today?
@hanera Did you ever consider buying multi-fam in Austin? I think one big advantage buying out of Bay Area is buying multi-fam. Lower price point and less regulations aka rent control. Couple that with a growing tech hub could be powerful, no?
No mf because of tenant profile.