← Back to Build Wealth
Real Estate Investing
Start with the playbook if you’re new. Use the spreadsheet when you’re ready to underwrite a deal.
35+ rental units across multiple states. Enough cash flow to cover all living expenses. Here's everything I've learned about building a rental portfolio.Key Concepts
How I Evaluate Deals
My underwriting process for analyzing rental properties. Cash-on-cash return, cap rate, and the numbers that actually matter.
Value-Add Explained
Adding value doesn't mean HGTV-style flips. It means strategic improvements that increase rent and property value.
Why Boring Properties Win
I don't buy sexy properties in trendy neighborhoods. I buy boring cash-flow machines in stable markets.
Common Mistakes
- Overpaying because you fell in love with a property
- Underestimating repair costs (add 20% buffer)
- Ignoring vacancy and capex reserves
- Buying in appreciating-only markets with negative cash flow
- Self-managing when you should hire a property manager
Lessons Learned
- Cash flow is king—appreciation is a bonus
- Location matters more than the building itself
- Good tenants are worth keeping happy
- Spreadsheets don't lie—trust the numbers
- Scale slowly but steadily