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Updated about 9 years ago on . Most recent reply
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Pretty good savings looking to jump into REI full time
Hey BP community. This is actually my first post after reading for months. I'm pretty new to all this and it seems the more I learn the less I am actually able to plan a strategy.
Here's where I'm at: I am a married 23yo father of 2, make 35k a year and have 50k saved and I want to make REI a full time career. Where should I start? I'm looking for a route to build monthly revenue. Then scale to six figures in order to reinvest my gross revenue.
I've read so many books on the fundamentals but I'm not sure how to start. Just looking for advice :) thanks in advance!
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Have you considered the BRRRR strategy? Buy at a discount, rehab the house, rent it out for a monthly residual income and refinance it so you can pull your money back out to do another one?
It's a little bit of everything; flipping, rentals and land lording.
Oh and welcome to BP. Happy investing.