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Updated over 6 years ago,
How many deals does it take to get to 200k per year?
I need some help here. I am trying to set up a better vision for my investing. As of now it's just been flipping a house here and there. I have a pretty good J.O.B. so at this pint its been additional fun money for me. That has been fine and all but I am ready to get a lot more serious with it and want to set a goal to make 200k per year.
I also would like this to preferably come from "safer" investments - if that even exists. I want to avoid the classic way in which RE Investors go out - over leveraging. Rather than over leverage and be surprised by a down turn I figure apartments may fare better. So if I were to work backwards would it look like this...?
200k in Apartment income = $100 per door = 2,000 apartment units = work on flipping to build enough money start buying apartment units. Maybe 60+ apartment units at a time. i.e. Buy a 60 unit, then a 100 unit, 300 unit etc. until I get to 2,000. I just feel there has to be a better way. Would syndication or being part of a group i.e. Lifestyles, Brad Somrock etc. make it faster? Maybe as a sponsor it would reduce the money needed and I could be rewarded more for putting the deals together?
Would it really take that many units to make 200k per year in apartment investing?
I'm sure there are others here that are actually achieving this - would you please help a guy out and chime in?
Best,
-John