How to Build a Portfolio of 52 Single Family Rentals with Chris from StealthyRich

How to Build a Portfolio of 52 Single Family Rentals with Chris from StealthyRich

Chris from Stealthy Rich – Real Estate Investor talks to Neil Henderson and Brittany Henderson, the hosts of The Road to Family Freedom podcast. Chris has built a portfolio of 52 rental properties so far since 2013 with his partner, which has made them financially independent.

Post-Interview Analysis 

  • Key Lessons Learned:  The rent-to-price ratio for evaluating deals and needing to complement your partners’ skills in a partnership to have different talents that are useful.
  • How did they acquire their knowledge or what knowledge did they need to acquire? Trial and error and gaining experience are how he learned how to evaluate rehab costs.
  • How much money did it take to get started? His first property with his partnership cost $25,000, and he came with $6,000. He built business relationships with hard money investors.
  • How much time does it take now? He spends about 3 hours a week for repairs and dealing with tenants. Maybe 3-10 hours a week total.
  • Could they do this strategy from anywhere in the world? Right now they can’t do it from anywhere due to the hands-on property management component.

What you’ll learn about in this episode

  • What was Chris’ ground-breaking big idea moment in real estate? 
  • How did he learn about real estate? 
  • What helped Chris get over the fear of the first deal? 
  • What move did Chris make after buying his first house?
  • Chris talks about getting his 52 properties with portfolio lenders.  
  • What areas is Chris investing in?
  • What are the challenges of having partners? 
  • How can you find a partner if you are just starting out? 
  • Is he still buying in this current market? 
  • What does a typical deal look like to Chris? 
  • Does he use direct letters directly to owners?  
  • Does he only buy cash?
  • How does he calculate the costs associated with properties? 
  • Does he do his own property managing?  
  • Never tell a tenant that you own the property?  
  • Does he have important systems he uses?  
  • Does he use separate bank accounts for each property? 
  • What is good to know regarding tenant screenings?   
  • How does having a family impact his work?

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