Need advice on scaling

Category: General Advice

1 replies

Original post

Hi all, I own one property in the sunbelt and i’m quickly realizing I need to scale this as I’ve found some good success so far. My 5-year plan is to double my revenue with at least 2-3 new properties. here’s what my current situation looks like: - I’m a tax accountant at a large firm in Texas making 87K personal income. - Own one duplex, asking price was around $440 and i paid $425 - Mortgage is $3100/mo and I rent each side for $1750, so 3500 total rental income - Cash funds available: around 90K - Credit: excellent The investment is new but I want to up my cash flow and get a few more properties in my portfolio. Where should i start?

Reply by Michael

Don't let your eyes get larger than your stomach. Scale at a reasonable rate that you can handle. I've seen friends get completely overwhelmed because they tried to do too much too fast. Dont make that mistake. Also, invest in good tech. There's a lot of tech out there that's bad and some that's helpful. Finding helpful tech can make all the difference as you grow your portfolio and have less time to deal with everything.