10 Year Plan:

[Byran Parson]

My wife and I own two rental properties that will be paid off in 4 years.  I cashed flowed around 50% and 10% on the other.  I didn't follow the 10% rule on the one rental because of a particular situation so I've paid a little out of pocket for operating expenses.  All that said, I want to follow the 50% as much as possible.

In 4 years, when I'm 39 years old, I'm estimating that my wife and I will have around 30k per year to invest.  That's probably chump change for some of you but I'm excited about it.  

I can buy a nice single family rental home or half-duplex for 40-50k in our town.  Full duplexes are hard to get, but they go in the 60-80 range.  

I can theoretically buy two rentals per year.  Is it better to buy two rentals in a year or buy one rental with a larger down payment?  The other consideration is, will banks/people lend me that much money?  I know banks will give me trouble with that, I think.  I don't have any consumer debt.  No car debt, no consumer loan debt, no college debt.  I have my mortgage of $500 but that's it.  

My goal is to have between 10 and 20 rentals in my 40's so I can do well when I'm in my 50's.