I had the pleasure a few weeks ago of hanging out with Robert Hammond, a real estate investor who bought 74 investment properties in less than two years; accumulating $2.5 million in equity and $22,000 a month cashflow!
Everyone wants to know how the heck he did it… well, he started with around $40,000 and flipped two houses to bring that up to around $80,000. With $80k, he bought 10 houses, which is the Fannie Mae limit for single-family homes. He went to real estate mentor Del Walmsley to ask what he should do next.
Del advised him to start taking on partners. He found 6 partners to put up cash and credit for the next 64 houses!
Robert is truly and inspiration to all aspiring entrepreneurs. I am certainly fascinated by his success and have befriended him as a mentor. It will be exciting to see what he does next. Will he keep building his house portfolio, or will he move into apartment complexes?
{ 16 comments… read them below or add one }
Wow, that is really impressive. My goal is $15,000 a month in cash flow. I’ve told myself that if I reach that goal, I will donate $3,000 of that per month to charity.
Where are you at in your portfolio?
Wow! He’s an inspiration for people like me just starting down the road. I hope an average joe like me can pull the same thing as fast as he did. His story is indeed truly awesome!
The video doesn’t work. Hats off to Robert. He is buying 3 house per month.
i wonder how he bought so many properties at such a low price and managed to sell them at so large a profit in such a small time
This site use to be cool till it got taken over by Lifestyles Unlimited. If I wanted to read about them I would have just gone to their website. It is a shame since you had some interesting post. This will be my last visit to this site.
Wow, that is really impressive.
Wow!! 74 investment properties in 2 years that is really an achievement. This post is so inspiring. Thanks for sharing.
Where are you at in your portfolio?
Is this still doable in the current environment?
I’m seeing people do it every week in San Antonio. It’s doable in a stable real estate market which is primarily in the south-central portion of the U.S.
My cousin and i bought a couple houses 3 years ago when we thought the market had bottomed out. Now were stuck with 2 houses with almost no equity and renters that are always late! We do make a small profit but i wish we would of waited another couple of years like this guy did.
Is there others cases like this one? Could someone do the same as Robert Hammond?
Thats really inspiring
Glad you asked! I’ve got a few more I just cut that I will post soon.
Incredible! Robert really does a great job in real estate. Very inspiring to those who wants to start on this venture.
Robert is likely using private money financing on these deals. It’s a great option for fix and flippers. 25% down, 18%, 6 month term, no credit check.