New rental investor strategies

[Mikhail Katz]

Hey guys, I am very new here this is my first post.

I want to invest in rental properties and my first goal is to achieve around 5k passive income from rentals.

Right now I have a good income and maintaining low cost of living, so while things are this way I want to invest aggressively. I am able to invest let’s say about 25k every 6 months.

So my current thinking is to buy 80-100k houses in Midwest with 800-1200 rent a months. Put down 20% and finance the rest and keep doing it for the next few years. In about 5 years or less I acquire 10 houses and start to pay them off one by one and when I am done I am at my goal.

I know I am new and maybe my plan has flaws but I might be able to correct my course as I move forward. I am not looking for easy or quick money just want to build financial independence for my future. I might not make that much money in future or may start a family and have much less funds to invest so you get my point.

Also, right now I don’t know how to target my future purchases for now I am planning to use Roofstock but also would be glad to meet real estate agents who I can work with.