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I am WAY TOO nice to be in public accounting….
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Rising Star
I have a rental property and on a cash flow basis it brings in about 14k a year. I have a loan on the property. Without the loan it’d be more in the 27-30K range.
That’s the dream set up right there. Enjoy the ride! I have no doubt that you’ll eventually earn more through your real estate business than you earn at your day job. Just gotta stay consistent
97k salary and make about 12k a year (after mortgage and all expenses) on one townhome in FL with long term tenants (short term isn’t allowed for this property). Would love to add more but hard to justify now with rates where they are. Even though I know they’re still historically low. Thoughts on when to expand and what I should look into for my next property? Eventually I want to buy apartment complexes but I know I’m probably 10-20 years away from that
Senior in FDD. That’s great though. Congrats on your portfolio! Hope you can grow it even more and thanks for setting up this chain. It’s cool reading everyone else’s responses as well
I’ll start. 60k in cash flow a year and 160k salary
City in Massachusetts with about 50k population. It’s not any help to you now because the prices have gone crazy, I can’t even invest in the city anymore because the deals don’t make sense haha. I’ve been buying for about 8 years now, I think I’d say around 70k a unit is what I’ve been averaging. For a triplex, id normally pay 210-250k. Would require about 50-60k down and another maybe 5k in closing costs. Total initial investment would routinely be 60-80k out of my pocket
Lol I’m 9k CF and 225 salary
Can’t complain about 700-800 a month coming in on top of your paycheck. Once the ball gets rolling, that cash flow will be enough to pay for some big bills
12k and 120k salary
It was my first home and I have had it for about 5 years
I work at PwC this I am homeless..
Does anyone have any specific city or areas they see potential in getting good Cash flow?
https://www.biggerpockets.com/member-blogs/4704/42419-cleveland-neighborhood-grades
Here’s a link for Cleveland. You can take a look on Redfin for multi family properties, and run the numbers on them. Once the numbers work, you can see how the neighborhood is. If the numbers are great, and it’s in a half decent neighborhood, you may have something. A first time investor would want to be in Atleast a C neighborhood (yellow on the map)
$155k salary with $100k in real estate cash distributions.
Mine are all commercial properties. I started with family and friends. We recently sold a three we bought 8-9 years ago and made 4x our money so now we are doing private equity deals also in commercial real estate estate. More specifically grocery anchored plazas.
My rental property (3 unit), gives me anywhere between $800-1200/month cash flow. My take home salary pay is ~$6200/month.
There has not been a need for one, but I have considered. Everything from leases to rent collection is managed through TenantCloud (the online platform I use) i pay $144/year for this service. I also have smart locks on every door and the doors are key less. Hence, it's tough to get locked out (unless you forget the code, in that case they just call me and i can give them the code). I also visit the property every other month to do a routine inspection overall and talk to the tenants.
Do you all have these in LLCs? Do you report the LLCs to the firm and get approval?
Rising Star
Idk about other firms but BDO is pretty explicit in internal reporting about whafae need to report or not. It’s pretty simple though it’s just literally writing “ABC LLC” and say your ownership % and what it is. I wrote “residential rental property” and no one ever questioned it, and even if they asked there’s nothing to hide