Related Posts
Rising Star
More Posts
Mentor
Enthusiast
I just want to retire
Hi IQVIA friends, I am looking for some guidance here. Currently designated at Indegene as pre-sales solutions manager but work pre and post sales till delivery construct gets matured. Have experience in solutioning and strategising commercial and non commercial global content & web production, marketing communications and Omnichannel campaign, along with Patient Support Program design. 6yrs of experience Any roles that fit my skills at Iqvia ?
Accenture UBS work environment any idea ???
Additional Posts in The Real Estate Bowl
Visual Storyteller
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
What’s your loan to value on those 4 properties? Where are you located? That seems like an awfully lot of real estate to own to only net $1300 per month. On average each property is barely cash flowing $325 per month. One major appliance failure, bad tenant, etc. is pretty much wiping your yearly cashflow which would put you in the negative.
I suggest you hold off on buying any more properties in the near term and build that savings so if anything comes up you can easily take care of it. I also suggest that you start putting money into a brokerage as well just to stay a little diversified and to get 8-10 percent annually via voo, spy, etc.
I’m also 29M, 172K base salary who owns 4 properties, 3 that are rentals and 1 that is vacant land. My 3 rentals net alone me about $2200 per month. My LTV is right around 55 percent so it’s very healthy where I could pull equity out, sell easily, etc.
My only advice is to build more savings so you have more cushion in the event of a repair, and when you do purchase more real estate look for some better deals. I can’t imagine buying a property that’s only going to cashflow a couple hundred as taxes or new insurance could wipe out cashflow.
Where are your properties located OP? All in the same state?
How are you handling the 4 rental ones? Are you giving to management companies or you doing all by yourself?
Generally speaking, don't put all your eggs in one basket. Do you have other investments ( stocks, 401k, T-bills ) checked?
Based mainly on those two with where you find next potential properties will guide your decision
Hey OP literally in the same exact boat/ age with 5 without any paid off lol.
I would ask yourself what is your end goal? For me it is to get the worth up to 5 million- 6 million prior to 40, so no not selling anytime especially now and continuing to buy if I see an opp. I would rather go with this path and have a few Ms in the bank so I can explore other paths and leave my job versus grind it out to PPMD.
Just got accepted to Booth for MBA so looking to lateral to MBB
How did you get started acquiring properties?
First 2-3 are the hardest and pretty easy from there via HELOCs or cash out refi as things snowball.
You learn so much after the first two. Key things is, it is ok to wait to buy the right prop versus rushing into one without doing your research.
My take has been that you want to have a mixed portfolio (obviously), but that if you are high income with high future expected income, it makes sense to buy as much property as you can as soon as you can, and then switch to a balanced approach. If you are successful and not at all burnt out, you could buy a couple more properties before switching to a stock/fund-focused strategy. My two cents. I want to pay off all the mortgages while I'm still in my active stage of life.
And here I am turning 30 this month with no house and barely enough saved for a down payment on my first house 🥲
OP, just to add to the above convo, I have over 2M in property and cash flow is great but not my end game. I look at total equity per year + cash flow, and if you aren't cash poor I don't see any reason to think of cash flow independent of the bigger picture. Sure, cash flow is nice, but it's also superficial compared to the real total of equity increase + cash flow, less expenses. Rents will increase dramatically over time, so to worry too much about today's cash flow misses the bigger picture of non-flip/rental property investing. The longer you hold it, the bigger you win, if your market is a solid one.
Are you ever concerned that some or all of the properties may be vacant at any one time that you haven’t paid off? I’m looking to rent my townhome eventually so wondering
It's considered one of the bigger risks you take on actually. But how real the risk is depends on the market. In a strong market, it's not a huge risk. On the other hand, if you couldn't tolerate losing 6K to maintain your investment, you probably shouldn't get into the game.
Amazing. Curious to see if all five were cash flow positive when you bought or were you relying on future appreciation? Also which part of US?
I am in NJ and finding it tough to find a cash flow positive investment property. Any suggestions?
Can just speak for me. I own 4 with 3 as rentals. Similarly have performed well both in terms of today's cash flow and appreciation. My goal now is to diversify net worth. Right now it's very heavily on real estate, all in one state. My new goal starting this year is to build a large brokerage account with the goal of $1M between it and retirement vehicles, i.e. what I think of as "cash investments." Then I'll be pretty much 50/50 between RE and Equities. After that I'll prioritize mortgage payoffs within reason so that passive income allows happy FIRE type things.
How do you pay the properties off so quickly?