Bought a second in 2015 and rented out first.

About to buy a third. Will also rent out second.

Best part is I had GF(s) paying me rent on all of these. She pays 50% of carrying costs, not taking into account the mortgage interest deductions, so I actually pay for less than half. With new place, she will be paying less than half though since it's more expensive.

First is ~$500 / month cash flow positive.

Second will be basically cash flow break even for first year I'm renting it out.

Even if I live in my new 3rd spot for the rest of my life, I will have paid off all three apartments by early 60s and, assuming similar inflation & rental price increases, will pull in ~$120,000 per year in today's dollars renting out the first two apartments.

So, I'm basically set for retirement already in my early 30s, even ignoring my 401k, normal stock investments, crypto, liquid assets, etc. Probably won't matter since I'll be inheriting low 8 figures barring some crazy series of events, but I prefer to prepare for the worst.

I also plan to buy a new place once I save up another 20% down payment.

(http://www.autoadmit.com/thread.php?thread_id=3955040&forum_id=2#35883389)

That's about $5,000 per month per apartment, which suggests a value in the neighborhood of $1 million each.

I'm having a hard time believing that.

(http://www.autoadmit.com/thread.php?thread_id=3955040&forum_id=2#35883515)

First has increased in value very significantly.

Second has increased in value a good deal.

(http://www.autoadmit.com/thread.php?thread_id=3955040&forum_id=2#35883670)

where'd the money come from for the payments on the other units? you make a high salary?

(http://www.autoadmit.com/thread.php?thread_id=3955040&forum_id=2#35883461)

What pisses me off is that EVERYONE I know not only assumes my parents helped me out, but they also often throw out snide comments insinuating so. Pisses me off.

(http://www.autoadmit.com/thread.php?thread_id=3955040&forum_id=2#35883498)

(http://www.autoadmit.com/thread.php?thread_id=3955040&forum_id=2#35883520)

Once married I will make sure I hire a property manager using my seperate money to manage them to make sure my future shrew-wife can't ever claim them.

(http://www.autoadmit.com/thread.php?thread_id=3955040&forum_id=2#35883471)

i had one LAWYER landlord at one of my places who clearly knew what i was doing, and made up some faggot excuse that he wanted to renovate the place - he paid me the EQUIVALENT 6 MONTHS in rent LUMP SUM just to get me out of there. went by a year later and there were no renovations :)

(http://www.autoadmit.com/thread.php?thread_id=3955040&forum_id=2#35883710)

I'm in a big city where it's easy as FUCK to get tenants in fast. I calculate 5% vacancy into my carrying costs.

My #1 rule when I buy an apt is that (1) I can freely rent it out per building rules, and (2) at the time I buy it I can rent it out above, or just barely below carrying costs.

I also don't put all my money into down-payments. I still have plenty of liquid assets.

(http://www.autoadmit.com/thread.php?thread_id=3955040&forum_id=2#35883618)

you think property prices will fall soon? seems like we're near the end of a biz cycle

(http://www.autoadmit.com/thread.php?thread_id=3955040&forum_id=2#35883682)

Rent's tend to drop less the property value though luckily.

(http://www.autoadmit.com/thread.php?thread_id=3955040&forum_id=2#35883935)

Seems like you are only using inflation when it helps your analysis.

You can't comfortably live off just rental income from 2 apartments now. No reason to think you will be able to in 30 years.

Edit: I now see you said $120,000 in today's dollars. That doesn't sound right unless these are ultra high end apartments or you are using an absurd rent price increase rate. You are also forgetting the very real depreciation on your apartments which will eventual drop the relative rental rate

(http://www.autoadmit.com/thread.php?thread_id=3955040&forum_id=2#35883533)

Weird flame.

(http://www.autoadmit.com/thread.php?thread_id=3955040&forum_id=2#35883671)