How I Bought 8 Real Estate Investment Properties
In this article, I will go over the eight real estate investments that I’ve made throughout the years. I previously had nine properties but sold one. I’ll tell you when I bought each property, what investing technique I employed, how much money I put down, and other facts so you can comprehend the present state of my real estate investment portfolio.
Over the years, I’ve built up a significant real estate portfolio, and today, I’ll walk you through how I did it.
The Beginning: 2015 – Learning From Mike Wolf
Let’s rewind to 2015. I met Mike Wolf from Mike Wolf Mastery, a huge Canadian investor who taught me the ropes and helped me start my real estate investment journey. At the time, I had been in real estate for about two years, had some money saved, and was looking to expand my wealth and passive income. I was hesitant because I didn’t know much about real estate investments.
At a coaching event, I connected with Mike, and he invited me to his next investor seminar in Kansas City. The event was going to cost $7,000, and I immediately PayPal-ed him the money. That seminar was life-changing. We visited three cities Houston, Kansas City, and Atlanta where Mike showed us how to work the tax deed auctions and explained the whole process.
My First Investment: Houston Properties
The first real estate investments I made were in Houston, Texas. Mike had a full team in place for tax deed auctions, from property management to the team that checks out properties and handles bidding at the auction. He even had a title company to ensure the titles were clean and free of liens.
At my first auction, I bought my first property for just $7,200. Over the next two years, I continued sending Mike’s team to represent me at auctions, and I acquired four properties in total. These properties cost me between $7,200 and $12,400 each, and they are now worth well into $150,000–$200,000.
Today, these properties bring in around $3,800–$3,900 in cash flow each month after expenses. I still own all four properties and rent them out.
Expanding in Los Angeles: The Duplex
During the same time I was buying properties in Houston, I also pursued an off-market duplex opportunity in South Central Los Angeles. I door-knocked the owner, struck a deal, and joint-ventured the purchase with another agent at Century 21, splitting the profits 50/50.
This duplex has appreciated significantly, and I still have a tenant living there. Currently, the net cash flow from the duplex is around $1,800–$1,900 per month, adding to my overall rental income.
Moving to Miami and Expanding My Portfolio
In 2021, I moved to Miami, bringing with me a decent amount of savings after selling off some of my assets in Los Angeles. After spending the first three months in Miami searching for a personal residence, I decided it was time to start acquiring more properties.
Within the first 18 months of living in Miami, I purchased three properties. Two of them were small condos in Hollywood, Florida, which I turned into Airbnb rentals. These condos cost $130,000 and $140,000, respectively. They’ve been fantastic investments, as the Airbnb market in Florida is booming.
After covering mortgage and expenses, I net about $2,000 from one Airbnb and about $1,800 from the other, totalling $3,800 a month in cash flow from those two properties.
Exploring New Ventures: The Boat Slip
Around the end of 2022, I decided to sell my Porsche 911 GT3 RS, which had appreciated from $130,000 to over $200,000. After cashing out, I wanted to try something new in the tourism industry. I considered buying a boat and boat slip or possibly renting out slingshot cars.
I ended up buying a boat slip in Sunny Isles Beach, just north of Miami Beach, for $90,000. I sat on the boat slip for about 8–10 months without renting it out, but eventually sold it for $140,000, netting a $50,000 profit in less than a year.
Selling My Residence
During this time, I also sold the principal residence I had purchased when I first moved to Miami. In the two and a half years that I owned the property, I profited around $120,000, which I reinvested into my business and set aside for future investments.
Current Real Estate Portfolio
Today, I still own the following properties:
- The duplex in Los Angeles
- Four properties in Houston from tax deed auctions
- Two Airbnbs in Hollywood, Florida
I sold the boat slip and my residence, bringing my total portfolio down to seven properties. I’m currently generating around six figures in passive income from these investments.
Future Plans and Investment Strategy
I’m now holding off on purchasing further homes to reinvest in my business. I keep my expenses low and use the extra money from my active income to finance future passive income investments. I recommend that anybody wishing to develop long-term wealth follow a similar strategy: increase active income, keep expenses low, and put the surplus in assets that generate passive income.
Final Thoughts
Real estate is a powerful tool for wealth building. I encourage everyone hustling and making money to invest in property. These long-term assets will appreciate and provide steady cash flow over time. It’s important to secure your financial future by investing in assets that generate passive income.
