Grow Your Portland Rental Property Portfolio
If you’re familiar with Warren Buffet, founder of Berkshire Hathaway (net worth of over $72 billion dollars), you most likely are aware of his 2008 book titled “The Snowball” which detailed his life and how he was able to build his fortune.
Buffet’s snowball technique is a simple strategy of buying and holding onto an investment over the years, and using profits from that investment to purchase more investments, but the question is will this strategy work for buying rental property?
Breaking down The Snowball
Let’s say that you are able to buy two Portland Oregon Rental properties and after expenses each rental is going to generate about $500 per month cash flow for you, or $12,000 per year.
If you were going to save this cash flow instead of spending it like most people you would have $24,000 by the end of two years and what’s best of all, you could use this money to buy yourself another Portland Oregon Rental Property.
What’s even better about taking the snowball technique to investing in rental property is that: A. You could avoid debt to purchase another rental property and B. It’s entirely possible for you to be able to buy one rental per year in the near future when you follow this approach.
Your Property Management Partner
For expert help with growing your Portland Oregon Rental property contact Property Management Systems today by calling us (503) 515-3170.
We can help you save the time, money and hassle when it comes to property management and best of all you will be able to rest easy at night knowing that your properties are well managed even if you are living or vacationing out of state.