Someone drove a car into Henry’s house. Yes, through his rental property.
For 99% of people reading this, that would put them in the hospital from stress. But Henry didn’t even need to lift a finger when this happened to him on vacation. Why? We’re about to tell you on this BiggerPockets Forum Q&A episode!
You’ve got a few rental properties—maybe even a decent-sized portfolio—but you want to scale. How many rentals can you realistically self-manage? 10? 30? 50? What’s the tipping point where you go from managing it all to creating another full-time job for yourself? And when should you finally hire a property manager? Henry scaled up to 70 rental units before fully outsourcing, but he agrees that doing it sooner (and with fewer units) might have been the better move.
Plus, Dave shares how to analyze real estate deals in under a minute when you’ve got dozens of potential rental properties in the pipeline. That’s right, the Data Deli himself is telling you NOT to open a spreadsheet for 90% of deals, and to use his quick “gut check” process instead. An investor also asks whether they should BRRRR in a rough neighborhood (C- or D-class) with low appreciation potential. Is there enough juice to make it worth it? Dave and Henry say it could be—but only in this circumstance.
In This Episode We Cover
How many rental properties can one person realistically scale to (self-managing)?
Dave and Henry’s quick “gut check” process for analyzing real estate deals ASAP
BRRRRing in a C- or D-class neighborhood (what if it doesn’t appreciate?)
The first steps every beginner real estate investor should take before buying property
How to run the numbers on a house hack to ensure it makes sense for your lifestyle
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1202
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