Updated almost 9 years ago on . Most recent reply
$300,000 in 2 years!
Hello real estate investors! I can feel the eyes rolling as you read my subject line, but I am serious. I am a complete novice in the real estate world, but I do believe it offers the best return on investment. That said, I need a game plan. I have about $50,000 to begin with, and I want to turn that into $300,000 in 2 years. I am planning to start by flipping houses to increase my capital and then add rental properties. I live in a very hot market, but I am told it is difficult to find properties because everything sells so quickly. Any suggestions would be greatly appreciated. Thanks!
Most Popular Reply
Year 1
Invest $1,000 a month in direct mail and send out 1,000 letters
10 phone calls
1 deal
Wholesale 1 deal a month for the first 4 months @ 5000 profit per deal = 20,000
Total: 50000-4000+20000= 66,000
Flip 3 properties (1 every 90 days) for a profit of 30,000 each
Total: 66,000+30,000= 96,000 year 1 completed
Year 2
Invest $3000 a month (3,000 mailers a month; 36,000 annually)
Wholesale 1 property every other month at @5000 profit each deal= 30,000 gross
Flip 5 properties (1 every 2.5 months) @ 30,000 profit each= 150,000
Total for year 2: 150,000+30,000-36,000= 144,000
Year 1 + Year 2 = 240,000
240,000+ 50,000 (original investment)= 290,000
Seems difficult. You will need HML's, contractors, constant deal flow etc.....Is it impossible? No, but you would need to take massive action if you wanted massive results.