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Updated about 8 years ago on . Most recent reply

User Stats

25
Posts
1
Votes
Jung-woong Han
  • Fort George G Meade, MD
1
Votes |
25
Posts

Can I get a advice about a path to financial independence.

Jung-woong Han
  • Fort George G Meade, MD
Posted

Hi, my name is Han and I am totally new to real estate. 

English is my second language, so please bare with me even if my English is so broken.

I am 39 years old and have two kids, I am working as a hibachi chef - you know that Japanese grill like Benihana - and my wife is serving in Army.

My job is physically very demanding and I have several joint problem so I don't think I can do this that long.

I wish I can replace majority income with cash flow from real estate, my goal is cash flow 3000 to 5000 a month in 5 to 7 years and eventually make 10 to 15k a month in 15 years.

Unfortunately I don't have any money saved right now but I got a chance to save about 30k in one year while my wife is stationed oversee. After that I am pretty sure we can save 1.5I to 2k a month.

So what's a strategy that I can take? 

Is it even possible to make my goal comes to reality?

I like Buy and Hold but with my income I don't know how I can buy something like 20 to 30 units in 5 years like people in Podcast.

I know there are people who made it and making it so can you give advice and strategy that I can follow?

Thanks in advanced.

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