Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

Start Taking Risks #rich #millionaire #landlord #realestateinvesting

22 Apr 2024 · 0 min

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A landlord quit their job to start a property-management company, funding it with a minimal salary from rental income and a cash-out refinance on their first property. They consolidated cash flow from all their properties into one profit center, hired a small team, and eventually began managing properties for other owners.

I could get another job or I can just focus on what I'm building. And that's what I did, focused on what I'm building. We started the PM company that paid us a little salary, mostly out of our own properties, but it was a way to create a unified profit center for all the properties, hire on a little bit of staff and start growing a company with third-party management. So I hired myself in there for basically no money, lived off the rents and one cash-out refi we did for the first year and off to the races from there.