When everyone starts out, you run the math. Something along the lines of:
- $200 per month in cash flow
- x 50 units
- = $10,000 a month in cash flow
Numbers like this are hard to swallow… you might convince yourself it’s easier to just do something else.
Which is why I am excited to share this week’s investor. An investor who did not need dozens of doors to achieve financial independence.
It is my honor to introduce you to Coach Mak!
How many doors do you have?
I have 5 doors
What got you into real estate investing?
We were always stock market investors but when the RE market crashed in the 2008-09 time, we wanted to diversify.
STEADILY – Insurance for Landlords — resilientrei.steadilypartner.com
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What market(s) do you operate in?
How would you describe your portfolio?
5 single family homes
What are you currently buying?
No more real estate. 5 is enough. We are 42 and 40 and already financially free. We will keep working for 5 more years but not adding to our RE portfolio. So, currently investing in the stock market.
Tell us about your biggest mistake in real estate?
We started looking looking for Rentals in 2010 but not actively. We made some low-ball offers due to our some lack of confidence venturing into a different kind of investment. Finally we became serious in 2012 and bought our first rental in early 2013. The biggest mistake was not getting serious sooner to take advantage of even better home prices.
Once we bought our first one in April 2013, we bought three others by December 2014 (so total 4 at this point).
Tell us about your biggest win in real estate?
The biggest win is a combination of our portfolio. We have 5 rentals now that are worth ~$3,000,000 that we paid $1,440,000 for.
The mortgages remaining on those 5 rentals are a combined $760,000.
The 5 rentals are netting us $4500 to $5000 per month in cash flow after mortgages, taxes, insurance and expenses.
The biggest win I guess is that all 5 homes are within 15 minute drive from my primary residence and all homes so far have been low maintenance since they are newish (all built from 2006 to 2013).
Outside of real estate what else do you invest in?
Mostly stock market and some crypto
Books people should read before investing
Not a huge reader of books 😀
What advice would you give to a new investor?
Just start. In the beginning there might be some trepidation to start a new journey but that is always short lived. Starting is the biggest key.
Coach Mak | Know Your Money (@wealthcoachmak) / Twitter — twitter.com
9-5 Engineer | Long term investor in Stocks and Real Estate | $0 to $5M in Net Worth in 14 years | I will teach you how to budget and invest |
This week on YouTube
DIY Landlord – pipe bursts? — www.youtube.com
This week we hear from JT of the incredibly Twitter account JTX-REIListen to the full podcast: Resilient Real Estate Investing
This week on the Podcast
Episode 18: Trials & Tribulations of a DIY Landlord – JT of JTX-REI — resilientrei.bio.link
Between managing repairs and tenants – being a DIY Landlord is a tough gig. Yet JT of JTX-REI (on Twitter) makes it look easy. He is incredible handy and consistently shares the work he is doing online. Sharing the good, the bad, and the ugly.
“Success is not final, failure is not fatal: it is the courage to continue that counts”
- Winston Churchill
Winning deals with creative finance featuring Pace Morby
Editorial Note: This is an outstanding episode