Updated over 12 years ago on . Most recent reply
Getting Started and Looking to Invest
Hello,
I've been interested in real estate since I was a kid. I currently work as a medical assistant and part-time bartender, saving as much as possible. My goal: to profit $2,500 a month.
I want to be an investor but not sure which route to go. I live in San Francisco, CA and it is one of the most expensive places in the US.
I initially looked in to wholesaling but I'm not sure if it's for me or not. Being that it's cheaper in surrounding areas like Sacramento. Would I be better off buying a small 2-unit building and working yet another job to pay it off ASAP so I can live off this property?
I love the idea of 2 and 3-unit properties. Having grown up in my family's 3-unit flat in SF, I feel these are some of the best investments.
As mentioned, my goal is to net $2,500/month and be able to work part-time in real estate so I can quit my 2 jobs. Am I on the right track? Also, after paying mortgage, taxes, etc. how much does Uncke Sam take out in taxes from a rental income? I've always wondered. Thank you for your time everyone and I look forward to your responses.
-Jon