Decide if you want 10 houses in one city (easier to manage) or 10 houses across three states (protects against local economic downturns). 4. Transitioning to Professional Management
Financing changes once you move past your first few properties: buying multiple rental properties
You cannot personally manage 10+ properties without it becoming a full-time job. Decide if you want 10 houses in one
Scale brings "statistical certainty" of failure. With one house, a roof replacement is a crisis; with 10 houses, a roof replacement is an expected line item. Maintain a "CapEx" (Capital Expenditure) fund of at least $3,000–$5,000 per unit. 6. The Goal: The "Flywheel" Effect a roof replacement is a crisis