Anyone else here heavy on real estate and growing a rental portfolio as a way to FIRE? How many properties or how much monthly net income are you targeting before quitting work? I'm targeting $14k net. Currently have 7 rentals.
Also curious about it
My rentals on average net around $1k a month after all costs. I have a local team to manage repairs and issues. I use airbnb to rent near colleges. Not vacation rentals but students and professionals between jobs/courses etc. Average stay around 6 weeks
I'm working on it. Have two rentals and looking to buy a third now. At a certain point single family stops scaling. To reach your targets you'll probably need to start buying multifamily properties.
Correct. All of mine are currently multi room. In the future I'll transition to single family as it's less work and less maintenance
Where are your rentals located? Can you DM agent info.
Does it make sense to buy 2B2B condos as a rental property? My worry is HOA keeps going high
I only have 1 condo. That's because I lived there at one point. My others are all non HOA houses. Typically 3 or 4 beds
2 SFH and 1 Industrial (part ownership). Would like more industrial, considering a STR type investment also. Planning for 20k / month in current $ to FIRE. Currently at 6k / month.
Is that 20k after all costs?
Thoughts on investing in Reits for the income instead? Saves a lot of time dealing with tenants etc. probably a lower return
How’s that different from investing in the stock market? Is it more stable?
Lower return + you pay ton of taxes on REIT dividends
Real estate is just an asset class. I would argue that it’s no better than a well-balanced portfolio. There is a general movement towards more regulation of rents on both coasts, which would severely limit the upside on asset valuations. Also, unless one invests in real estate where forced appreciation as one of the main objectives, there really isn’t much of an upside that is different from fixed income. Source: parents own and operate real investment funds
5 SFH and 1 duplex. Net cash flow is around 3k/ month as couple of them are paid off. Target is 10k/ month from rental and rest from dividends.
Wow which areas?
Predominantly San Antonio and Austin.
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How are you dealing with tenants? Isn’t it a lot of work? Maintenance etc
It really varies. Some weeks is 0 time, others it's 10+ hours. I have a local team (cleaner, handyman, construction, electrician, plumber). Having a team is super important