$20K Monthly Cash Flow - The Challenge is On! Seeking Your Guidance

[Michael Norwood]

Hey BiggerPockets family!

My wife and I (mid-40s) are motivated W2 earners with a rental property under our belts, eager to expand our real estate portfolio and create significant passive income. We've set ambitious goals and are open to exploring diverse strategies to achieve them. Here's our financial blueprint:

Key Parameters:

• Investment horizon: 10 years (2024-2034)
• Goal: $20,000/month cash flow from real estate
• Investment capacity:
  • Years 1-4: $80,000 - 100,000/year
  • Years 5-10: Up to $200,000 - $300,000/year

Seeking Wisdom for Optimal Strategies:

• Time constraints: We have busy schedules, so low-maintenance options are preferred.
• Cash flow priority: Our primary focus is generating steady monthly income.
• Open to possibilities: We're receptive to various models, asset types, and strategies that align with our goals.

Initial Explorations:

We've begun considering possibilities like:

• Single-family rentals (SFRs): Potential for consistent cash flow and appreciation, but require varying levels of management.
• Vacation rentals: Potential for strong cash flow, but seasonality and management considerations.
• Syndications: Access to larger deals, professional management, and diversification, but less control and potentially lower returns.
• REITs: Passive income with minimal effort, but returns might not reach our target.
• Creative financing: Options like seller financing or joint ventures to potentially accelerate growth.

Community Wisdom Requested:

We're eager to tap into the collective knowledge of this community! Share your insights on:

• Optimal strategies: Which approaches have proven successful for reaching similar goals, considering our time constraints and cash flow focus?
• Recommended models: What specific models or asset types would you suggest we explore?
• Market insights: Are there particular markets or regions ripe for investment, given our timeline and objectives?
• Experience-based tips: What lessons have you learned that could guide us on our journey?

We're open to all ideas and perspectives! Thank you for sharing your expertise and helping us chart a path toward financial freedom through real estate.

Excited to learn from the best!