Yes, it is absolutely possible to do this in 90% of the United States (except those hot markets on the coasts). About 18 months ago, I started on a plan to acquire 50 rental properties at the pace of 10 per year. My goal was for each property to have a positive cash flow of $200 per month and at least 30% equity. Under this plan, at the end of the five years, I’d have $10,000 per month positive cash flow and $1,000,000 in equity. Now, eighteen months later, I have 23 rental units with a positive cash flow of nearly $5,000 per month and nearly $500K in equity.
All of this depends on buying the property well below market value. This is relatively easy to do in most of the US although it does require working at least half the day (12 hours). If you buy at a big enough discount to market, you not only do this no money down, but get cash back at just about every closing (buy at 50% market value and finance at 70%).
I do all the management myself and work like a dog every day, but I can do this for another year or two to meet my goal.
I know a lot of other investors who have done the same thing. However, if you are asking if you can spend 3 to 4 hours per week like the gurus say on late night TV, let someone else manage the properties, and retire rich in a year or two - dream on!
From days gone by .Excellent post ,My questions are . Are you simply renting these with a net lease?Are you rent to owning any of them?Are they all single family ? I have had bad luck renting SFH’s as one or two months empty and it seems to dump the whole years pos.cash flow for the year.How are you finding prop at 70% value that are fundable and rentable with out repair?(not HML)If they are in need of rehab are you using your own money or are you levereging HML?If you are using HML wouldnt you need to get your properties at basicly 50% ARV or better?If you are getting them at 50% or better are they REO?HUD?Wholesale?Result of Bandit sign? Do you think these properties still exist in todays market?Do you think this scenerio is exclusive to your area or are these deals just about everywhere If you look hard enough? You mentioned you wanted to get 10 a year and it seems you are on track , actually ahead of schedule,Why do you think others have not found your secret for the rates you are purchasing at in your area? Lack of competition? Just an abundance of properties?It seems Like a lot of great deals for one individulal for one area.Whats your take on this?Hats off to your success!! Insight to your success would be appreciated by all Im sure.