Live around the world Without Worry

[Caleb Amundson]

Hi everyone,

First, I'd like to say thanks to Josh and Brandon for the podcasts they produce to help educate individuals like myself. I'd also like to thank those that have contributed to building up forums through accurate information and advice.

To start, I'd like to give you my information. I am 26 years old. I am earning conservatively (depending on commissions - I'm a sales manager with 10 yrs sales experience) over $65K. I have a comfortable $12,000 to start investing with right now. I own a primary residence (purchased in 12/13 with a 15k first time home buyer grant with the condition of residing there for 5 years) that I plan to stay in for a few years and then rent. My expenses are less than $2200/month.

My goal: In 5-10 years, I'd like to be able to pack up and travel the world with one backpack without financial worry. The goal is to replace my income with passive investments, alleviate the dependance of a 8-5 job, and spend my time doing what I want.

Currently I have some resources to give (capital), very little time (5 hours per week), and a wealth of information at my disposal through the help of bigger pockets, podcasts, audiobooks, etc.

My research is telling me to Buy and Hold. My thought is to possibly do some turn key investing with out of state properties. I also think I could maybe go the hard money lending route and buy local investments in Phoenix, AZ (unsure of the time requirements of such an endeavor).

With all this stated, what would you do if you were in my shoes (I am not planning to quit my job)? I know I need to find a mentor, and that is why I am posting this.

[Brie Schmidt]

@Caleb Amundson Welcome!  I am a buy and hold investor and feel that is the perfect route to accomplish what you are looking for.  

My advice: inspect your finances, cut out as much of the extra spending as possible and save.  Leverage your W-2 income to buy as much as you can.  Once you acquire as much as you can, focus on paying them down.