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Updated over 7 years ago,
New and looking for advice/ideas to get started
I am new to bigger pockets and am very interested in starting to invest in real estate. A little about my current situation. I own a business that is successful but drains me daily and I would love to create financial freedom to do what I love and have more time for my family.
I currently own a home that has about $200,000 in equity. I do not have a loan on my property. The home is worth about $385,000. Where I am looking for advice is how best to get money out of this house to start buying other properties. I would love to keep it as my first rental, but does it make more sense to sell it and take the cash to invest in multiple properties? Are there creative ways that I can get cash out of the house and keep it? What would you do?
My goal at this time is to own 30 units and pay all of them off with in the next 15 years so by 50 I have around $30,000 a month in income.
I live in Colorado and as many of you know deals are a little hard to find at the moment.
Thanks for your time,
Justin