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Updated over 8 years ago on . Most recent reply
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Building a path
Real Estate creates a euphoric headache for me while trying to learn all that I can about it. The anxious feeling I get makes me want to get the ball rolling right now but I know In my heart and mind for this to work I have to build the right path for things to roll smoothly and efficiently. My question to the BP family is for someone who wants to stop the 9-5 at an early age and start making REI a full time career (eventually becoming passive) what is the best way to start off. I'm thinking about buying and holding but I don't feel like cash flow wise it would enable me to stop working as soon as possible which lead me to wholesale and flipping first but I only have 2,000 extra a month to put towards those options there. I'm just lost and want to get started. I'm just trying to stop the spin cycle and work towards moving forward.
Thank you all for your time and all opinions and recommendations are very much appreciated!
Most Popular Reply
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IMO, Y O U don't build a path - - you follow it.
I applaud your effort to get off the 9-5 treadmill; really I do, as I ran like all heck for 37 years on it.
IMO, the wholesale PATH has lots of time, effort, labor and even more RISK than Sub2 and ATID. It is attractive due to the hype of "no money required". Strongly suggest the risk is severe and the returns are marginal.
As an alternative, I would suggest the BRRR path which can be learned and your ability to estimate ARV and repair costs can bring better profits with less risk.