I have three questions I need help with.

[Prudhvi Kadiyala]

Hello,

I am Prudhvi Kadiyala. I am 25 years old from Tampa, Florida. I am a Civil engineer and got a full time job 3 months back. Now I want to earn passive income so that I can retire 10 years from now. That's my end goal. Becoming wealthy and independent of the day time job. I do not have any savings right now I don't want to rely on parent's money for investing in real estate.

I have three questions:-

 How much should I save for investing and When should I start investing to meet my end goal? I can save 25000$ a year with my current job.

What is the best strategy I can follow to retire in 10 years time with a passive income of 6000$-8000$/month? I know rental properties are the ones that generate passive income. But I do not have money to put down for multiple properties to generate that kind of income. Is there a way I can achieve relying on rental properties down the line? I want to know a strategy how I can work my way up there.

What are some actionable items I can do while I save that initial money to invest?

Thank you.

[Derrick E.]

@Prudhvi Kadiyala Throughout the Mid West you can find all kinds of houses for $25k/cash or less. Now that doesn't mean they are all good deals or anything like that. You would definitely want to do your homework if this was an area you were not familiar with. 

I pay cash for all of my properties and do not worry about mortgages/banks, etc. I save all of the rent money and use it to put towards my next all cash purchase. As you buy more homes the amount of rent you are collecting obviously grows. I currently own 5 SFH's. The last two I purchased were $7k each. The most recent one I closed on Tuesday and it already has someone living in it for $441/month, been there 3 years and wants to stay. You can read more about those specific houses here in this thread: https://www.biggerpockets.com/forums/311/topics/516840-new-hud-house-37-roi 

Let me know if you have any questions.