My spouse and I own a business in the construction/home services industry. We have grown the business to afford hiring someone to take over my role so I can pursue investing in real estate.

I have joined my local REIA and will be attending meetings next month, I have a relationship with an individual I trust (an older relative) who has offered about 150-180k to invest with me for my first deal(s) at a reasonable return, and I have started analyzing deals. Due to my other business, I know good contractors/subs, understand contracts/scope of work/etc and believe I can fill in any gaps through REIA networking if need be.

I am looking for Flips or BRRRRs I believe initially to build up some cash and/or equity and cash flow, but would be open to having my strategy/goals challenged.

With my previous business, I never took a paycheck and grew the revenue from ~80k to >2million annual revenue in 3-3.5 years and navigated a seller finance purchase of a overlapping/competing business. That said, it is demanding physically and timewise on my spouse especially and I'd like to have a solid RE portfolio in 5 years to give him more time freedom as our toddlers enter school.

My goal is to have 500k in *annual cash flow* in 5 years. I think this is totally doable, assuming I'm smart with lenders and analyzing deals. I live outside Atlanta and have plans to expand our other business to Tennessee (chattanooga, nashville, knoxville triangle) and Texas (austin/dallas/tyler area). Additionally, I have family I often visit in Birmingham and along the I-85 corridor (Greenville, Charlotte, and RDU area). So, those are the markets I am considering investing in due to already being familiar, and having access to trustworthy referrals, etc. I know those are all reasonably hot markets right now, but I'm up for some competition & hustle. Ideally, I'd like my first few projects to be local to me in Atlanta/West GA/NW GA market as I get my footing but am flexible for the right deal (out of state or more south/east of Atlanta which I know investors are loving right now).

If you are an experienced investor currently cash flowing 500k+ annually I'd love to hear your thoughts on my goals, pitfalls to avoid, strategies to employ etc.

Nicole Elianna

Atlanta, Georgia

4 Votes