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Updated almost 8 years ago on . Most recent reply

User Stats

262
Posts
136
Votes
Allyssa McCleery
  • Rental Property Investor
  • West Palm Beach, FL
136
Votes |
262
Posts

20k to start, and 20k a year saving, what are my options?

Allyssa McCleery
  • Rental Property Investor
  • West Palm Beach, FL
Posted

I am new to the real estate world and my current situation is as follows: I have 20k currently saved and am expecting to save another 8-10k by the beginning the end of May. I project that I will be able to save roughly 20k-25k a year for the next 3-4 years and then I would be switching jobs in which I would not be able to save as much (I want to teach in an elementary school). I currently live in West Palm Beach but have the ability to invest in Columbus, OH (where I am from) if the cash flow is better. My goal is to buy enough rentals and hold them to generate 3k/month net income with the rentals before I switch jobs. What are some strategies that would enable me to be able to buy 3 properties a year with the kind of money I have? 

Most Popular Reply

User Stats

262
Posts
136
Votes
Allyssa McCleery
  • Rental Property Investor
  • West Palm Beach, FL
136
Votes |
262
Posts
Allyssa McCleery
  • Rental Property Investor
  • West Palm Beach, FL
Replied

@Robert Ellis my hope is that as I continue onward I will be able to buy properties for less than 20% down, exploring my finance options as much as possible. I am definitely interested in buying MFH in Columbus but starting out I will buy here in West Palm. Thank you for your post I really appreciate the advice! 

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