The economy, stupid – a de facto slogan of Bill Clinton’s campaign in 1992. Coined by James Carville this snowclone resonated with voters and ultimately won Clinton the Whitehouse over Bush.
For the last few months Rob has created his own – It’s 10 houses, stupid.
Right after hurricane Harvey ravaged Texas with its’ rain – I bought a house in Bear Creek. Purchase and renovation cost approximately $110,000. That house today is worth over $200,000. That single purchase increased my net worth by $100,000 while making $300-$500/month in net cash flow.
If I bought 10 houses that year my net worth would be about $1,000,000.If I bought 20 houses that year my net worth would be about $2,000,000.
What if I bought 20 and sold 10 and used the proceeds to pay off the mortgages on the remaining 10 houses?
My net cash flow would be nearly $10,000/month – with ZERO debt – and I’d have a cool $1,000,000 in my real estate portfolio.
It all starts with buying and holding 10 houses. It is no more difficult than that.
It’s 10 houses, stupid. – Robert Orfino.
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