Let's talk strategy

[Jennifer Fernéz]

This post is for seasoned investors.

You are starting out and do not have a mortgage, yet.   You work a stable job and make $5K a month.   You've been able to save up and have $50K in liquid cash.   Your goal is to create an income producing portfolio so that you can retire from your blue collar job in 10 years.   

Tell me your best strategy to reach your goal.

[Tim Ryan]

Quote from @Jennifer Fernéz:

Quote from @Tim Ryan:

This can be done.  One way to better your odds is to find a partner and do this together.  It will be easier to get $10k monthly cash flow together than $5k on your own. 

$5k is not overwhelming, but if you never really get started then it's a moot point.

Power in numbers.  Go for it !

 What is the difference in numbers?   It seems more like a headache to partner with someone but I’m interested in hearing your take.

Here's my point:  It would appears making $5k on your own is equivalent to making $5k in a partnership. So what's the difference?

I'm making a point that many people who are new to real estate investing (which I think includes you) have a very hard time ever getting started or taking that leap on their own. 

Then I see newbies who team up, motivate each other and work together as a team. It being a headache is only if you can't work with people for properly set up a company with someone.

This is what is great about investment partnerships. You only need to partner on a deal by deal basis. Do one deal together. If not working out, don't do more.

If it works do a lot.  I have numerous partners. One of my first partnerships, we owned 330 units together. The partnership has been amazing. Perfect? Of course not. But very lucrative for sure. Neither of us would have done this without the other.

Something to think about. Maybe you'll have to go out first on your own before you'll really understand what I'm saying here.