We closed on house #4 on Friday. All went smooth. We are turning it over to the property management company to rent for us since we all have full time jobs. It does cut into cash flow a little but it's what we need to do.
The first house we ever bought is currently cash flowing $142.50/month. We've been getting an average of $300+ with no member loans considered. We currently only owe $54k and it's probably worth $78k. if we can figure out a way to get $75k net from it, then we're looking at $21k in cash (tax free). This means we can buy roughly 2 houses that cash flow at least $300/month. We're potentially looking at cash flowing $600/month with 2 houses instead of $150/month with one. There is no reason why we wouldn't do it.
Our business is based off cash flow. We don't care about equity or appreciation near as much. The max we'll hold a house for is 5-6 years and then we're cashing out all the equity and appreciation and rolling it into another house. Our goal is to sell 1 house and buy 2 that cash flow just as much as the first house.
I'll keep you posted but the idea is to turn $150/month into $600/month without any cash investment on our part. I'll let you know how it turns out.
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