Would I buy 20 rental units again? Yes, but I would approach it differently. Owning rental property helped me build wealth. It also taught me that a strong return on paper does not tell you how much time, attention, and work an investment will demand.

Earlier in my investing journey, I focused on getting the most out of the money I had. Today, I also think about what an investment takes away from the rest of my life. That change in perspective is the reason I wanted to revisit this question in my newsletter and video.

What worked when I started

My first house hack opened my eyes to what owning property could do. Later, refinancing properties allowed me to recover equity and continue buying. The strategy helped me build my portfolio, and I do not regret the experience.

But as I bought more, I became increasingly focused on cash on cash return. I paid close attention to what a property appeared able to earn relative to the cash I put into it. I did not give the demands on my time the same weight.

What the numbers did not show

The work included late rent, repairs, expensive turnovers, and licensing issues. Each problem had a financial cost, but it also took time and attention to resolve.

During COVID, I had a tenant stay for almost two years and leave me with more than $20,000 in damages. That was my experience with one tenancy, not a prediction about what another investor should expect. It made the limits of my earlier thinking very clear.

Rental income was coming from an asset I owned, but that did not make the work passive. The property still needed decisions, repairs, and someone to deal with the problems.

Why I would make different choices now

Every hour I spend chasing rent or handling a repair is an hour I cannot spend serving clients, building my business, or being present with my wife and son. Those tradeoffs matter more to me now than they did earlier in my career.

If I were starting again, I would probably favor fewer properties with fewer operating demands. I would be willing to consider a lower projected return if the investment fit the way I wanted to spend my time. That does not make one type of property right for everyone. It describes how my priorities have changed.

I still value what the portfolio helped me build. I also value the lessons it taught me. The mistake would be continuing to make every decision as though my goals and responsibilities had stayed exactly the same.

Questions I would ask before buying another rental

  • What work will this property need, and who will be responsible for it?
  • How would repairs, vacancy, or a difficult turnover affect the plan?
  • How much of my own time am I prepared to put into managing it?
  • Does owning this property support what I want from the next stage of my life?

Questions people ask me

Do you regret building the portfolio?

No. It helped me build wealth and gave me experience I could not have learned from a book. I would simply evaluate the workload more carefully if I were starting again.

Would you rather own more units or have more time?

At this stage of my life, I place more value on my time, attention, and peace of mind. A unit count by itself is not the goal. I want my investments to support my life.

Talk through the property and the plan

If you are considering a property in Montgomery County, Philadelphia, or the surrounding suburbs, send me the property and the questions you are weighing. You can also browse my other articles and video answers or learn about working with me as a buyer.

By John Lee, Realtor, SRS, ABR®, Real Broker LLC. Adapted from my newsletter and the video “Would I Buy 20 Rental Units Again?” This is a reflection on my own experience, not a forecast of another property’s returns.