Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago,

User Stats

7
Posts
2
Votes
Dale Guidry
  • Investor
  • Prairieville, LA
2
Votes |
7
Posts

Heres my story...would you do anything different?

Dale Guidry
  • Investor
  • Prairieville, LA
Posted

Hi everyone! I'm fairly new to this...except I have owned and rented a few mobile homes several years ago but this is my first attempt at making a viable income with reasonable skin in the game. I'm 36 and for the past 10 years I've been very fortunate to have a well paying job with benefits and a retirement plan. So my real estate goal is to have at least a dozen SFH of decent quality at early retirement age(55) to carry me to full retirement(62) without having to have excessive early withdrawal penalties. We recently purchased our first rental with a COC return of 15%. We are currently looking for our second because we have enough cash on hand for one more. We estimate that we can pay off the first in about five years and the plan is to use its equity to buy more. Assuming we keep our income stable and never have to pocket any rental income we will always snowball the oldest mortgage to purchase more properties until I reach age 55. At 55 I would need to reevaluate the question of weather or not to continue to build wealth or retire and never miss a dollar of steady income. What would you do?

Loading replies...