I HAVE A GOAL!!!

[Julius King]

Never really had a tangible goal before. Just wanted to get into real estate to make money. But now I want to make 20k a month in passive income. I would like to accomplish this goal in 5 years. Is this a realistic goal?

[Bill Gulley]

Well, I'm not going to give you hype and encourage you to lure you into any program or strategy of acquiring rentals or doing lending. Is it possible, yes, almost anything is, is it probable, not very!

The longer you set  that   goal out the more probable it becomes, 10 years, 15 years, 20 years. The problem with the youthful is they want it now! Real  estate is a long term game to build passive income.

Skinning a few hundred bucks a door means a lot of properties. As mentioned above that is dependent on your market and funds available. 

There is also a time constraint at play, how long does it take to find a deal and close it then get it rented? Time has to be set aside for management as well, the more properties you have the more management time required, they don't operate on autopilot without help. Then, that help is going to cost you.

So, how much thought have you given to your dream? It's easy to dream, it's much harder working 18  hour days 7 days a week and not taking time off.    

If you're light on money, just starting with no education in the industry, I'd think you'd do well to hit $50K as net income in your 5th year.

Just a dose of reality! :)