How do I make 5k passively in real estate???

[Ugochukwu Opara]

Hey,

My goal with real estate is to net $5,000 a month from rental income in the next 10 years. I'm currently a real estate agent in the Philadelphia area and I also do flips. The pay is great but its basically a 9 to 9 job. I have no problem with working hard and smart. My current problem now is that once I leave or take a vacation ... so does my income!! Which sucks. I'm only 23 but I'm thinking of when I get older and have kids and I'm missing games and birthday because I have to chase that dollar.

QUESTION:----->

How does one go out there and build a portfolio of rental properties where you NET $5,000 a month in 10 years time or less? Please be a detailed as you possible can! Thank you so much.

[Jon Klaus]

Assuming you can net $200 per house, per month, a 10 year buy and hold plan might look like this:

Year 1, buy 1 rental, $200 monthly cash flow

Year 2, buy 1 rental, $400 cash flow

Year 3, buy 2 rentals, $800 cash flow

Year 4, buy 2 rentals, $1200 cash flow

Year 5, buy 3 rentals, $1800 cash flow

Year 6, buy 3 rentals, $2400 cash flow

Year 7, buy 3 rentals, $3000 cash flow

Year 8, buy 4 rentals, $3800 cash flow

Year 9, buy 5 rentals, $4800 cash flow

Year 10, buy 5 rentals, $5800 cash flow

That's 29 homes. You also should have rent appreciation, and a balance sheet that gets stronger each year. That would allow you to trade up to commercial some time in the latter years or at the end of 10 years for even more passive income.