10 Units in Under 2 Years and a Scaling Real Estate Portfolio
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- เผยแพร่เมื่อ 29 มิ.ย. 2024
- A scaling real estate portfolio tends to not happen overnight, but zero to ten units in under two years is pretty quick! Back at the beginning of 2020, Cale Delaney had a mental shift where he realized that real estate could be the key to setting him financially free. He scoured homes all over his area of Florida until he came across a fourplex which rejected one offer from him but later accepted another. He made three of these units long-term rentals, and the other one a short-term rental.
Then, Cale decided to pack his whole family into the minivan and make the 10+ hour drive to check out the area. Shortly after, Cale was under contract for not one, not two, but three cabins!
Cale went from zero to ten units in only a year and a half or so, without a ton of management experience of extravagant funding. If he can do it, you can too!
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Join the Real Estate Rookie Facebook Group:
/ realestaterookie
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Follow Cale on Instagram, or Contact Him on Facebook or BiggerPockets:
Instagram: @mtn_to_sea_cabins_and_cottages or / mtn_to_sea_cabins_and_...
Facebook: / cale.delaney
BiggerPockets: www.biggerpockets.com/users/c...
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Software Mentioned in Today’s Episode:
Smartbnb/Hospitable: hospitable.com/
PriceLabs: hello.pricelabs.co/
Stessa: www.stessa.com/
RUBS: thinkutilityservices.com/rubs...
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Grab a Copy of “Short-Term Rental, Long-Term Wealth”:
store.biggerpockets.com/produ...
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Follow Ashley and Tony on Instagram:
@wealthfromrentals or / wealthfromrentals
@tonyjrobinson or / tonyjrobinson
Episode 121
Show notes at: www.biggerpockets.com/rookie121
0:00 Intro
6:18 Making the Mental Switch to Build Wealth
9:57 Cale's Current Portfolio
11:18 The First Deal
15:16 Switching it Up with Short-Term Rentals
22:15 Getting Your Partner Ready to Invest
24:22 Getting 3 Cabins Under Contract!
30:05 Financing These Deals
33:33 Using a HELOC to Fund Rentals
38:11 How Do You Manage 10 Units?
41:12 Scheduling Time Now for Freedom Later
44:42 Deal Deep Dive
57:11 Rookie Request Line
1:00:29 Rookie Rockstar
1:02:58 Never Too Old to House Hack!
Thanks everyone who listened/watched to my episode and got some value out of our RE journey! Glad to connect with our like minded investors.
I’m in Lake worth and my two properties are there, I would like to connect with you.
"Success does leave clues" - love it!
Another awesome podcast, thanks so much Tony and Ashley!
Glad you enjoyed it!
this is what, the regular bp used to be like
Glad he spoke about his heloc experience. I just took out my HELOC and am playing on using it for my down payment, renovations, and a safety net.
Yes, HELOCs can be awesome tools!
Fellow Granite Stater here, thank you for sharing your story Cale!
Glad you got some value out of it!
Appreciate the numbers.
Absolutely. Always helps to hear real numbers on real deals.
When using a secondary/vacation home loan with 10% down how far away does the property typically need to be from your primary residence? Or does that depend on the lender you use?
I wonder did he purchase these properties under a biz name ... LLC?
Did ya'll notice the fart at 39:07?
Hahahaha
You're welcome. =)
how do you quilfy for more than 1 loan ? helocs , 4 Plex, 3 cabins ??
Put under an LLC as a guarantor and then it’s not against your credit.
@@aarongillette4420 pretty sure under and LLC you have to really have a good source of income.. gotta make sure that llc is already producing money.. or get it producing money.
Get commercial mortgages - there is no limit on the number of these that you can have at one time. I currently have 9.
Prepare yourself financially as best as possible. I have a decent paying W2 and that combined with the rental income kept me within DTI limits to get all those loans. Also, partnered on the 4plex.
Cale, how about a call out to your wife who manages the 3 kids and all the other things while you are working out and doing all things real estate?! You are only successful because she has your back so don't forget her when you talk about what makes you successful
This isn't stated enough (or really, AT ALL) in the plethora of interviews of investors juggling W2 and family. There are always uncredited supporters in the background, who are massive enablers of the frontman's success while he/she enjoys the limelight.
What Facebook group are you guys in?
I would like to know this too. Thanks!
One of the public groups is Short Term Rental, Long Term Wealth