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Updated about 1 year ago on . Most recent reply

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Rodney Love
  • Real Estate Agent
31
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Which real estate strategy works best to escape the 9-5 rat race?

Rodney Love
  • Real Estate Agent
Posted

My question for anyone that escape the 9-5 rat race is. What real estate strategy did you use?  Example if you had between $20,000-$70,000 to invest in real estate.  How would you use that to replace your income of  $7,000 a month from your job? Fix and flips, tax liens, mortgage notes,  rentals,  Airbnbs?

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990
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Travis Timmons
  • Rental Property Investor
  • Ellsworth, ME
2,082
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990
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Travis Timmons
  • Rental Property Investor
  • Ellsworth, ME
Replied

The one where you build a rock solid financial position over time. My path was owning a business that I sold and acquiring real estate along the way. I like the position of Wes Moss from his books and podcast - more than 1 source of income (RE + something else), paid off primary residence, a pile of liquid cash or investment reserves (he suggests $500k+). I realize that this is likely not the answer that you were looking for; however, It's going to take  more time than you were planning and be harder than you thought. 

Real estate doesn't pay you well if you need the money. It's like the house knows you need the cash - something is going to break and deplete all of the cash flow for that year. 

As far as a strategy goes, I would suggest leaning into your current skill set and knowledge to find an unfair advantage. Flipping, short term rentals, tax liens, etc. are all great strategies if you are good at them and terrible strategies if you are not. If I had 20-70k, I'd buy a house hack in Dallas if your DTI is solid. I'd then work my a$$ off to pile up another down payment, and buy another as soon as possible.

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