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Updated over 5 years ago on . Most recent reply
How realistic my plan is?
So I have been bitten by the real estate bug lately, and I am looking to purchase my first real estate investment by the end of the year. I am also planning to buy at least 25 properties the year after, and about 25 properties the year after that. So it comes down to about 2 properties a month. So my question is how much effort would it take? I know it depends and varies from person to person, but if you have had success with REI, I would very much appreciate your story.
The other thing that concerns me is that I have a rather demanding job (65-70 hours a week) in a HCOL area, so I am thinking of doing out-of-state investing as well. I will start with my investment in the area where I am from, which is about 4 hours away. While the area is a bit far, I know the area well, and wanted to start there to leverage my knowledge of the area. I have already worked with an agent to find some properties there.
Would it be far fetched? Of course, there's a will, there's a way. But I just wanted to have a good idea of the commitment it would take to do it. Many thanks!
Most Popular Reply
#4 All Forums Contributor
- Plymouth, MI
Originally posted by @Hoang Bui:
So I have been bitten by the real estate bug lately, and I am looking to purchase my first real estate investment by the end of the year. I am also planning to buy at least 25 properties the year after, and about 25 properties the year after that. So it comes down to about 2 properties a month. So my question is how much effort would it take? I know it depends and varies from person to person, but if you have had success with REI, I would very much appreciate your story.
The other thing that concerns me is that I have a rather demanding job (65-70 hours a week) in a HCOL area, so I am thinking of doing out-of-state investing as well. I will start with my investment in the area where I am from, which is about 4 hours away. While the area is a bit far, I know the area well, and wanted to start there to leverage my knowledge of the area. I have already worked with an agent to find some properties there.
Would it be far fetched? Of course, there's a will, there's a way. But I just wanted to have a good idea of the commitment it would take to do it. Many thanks!
Why would you want to buy 25 properties a year? Don't look at the number of properties, look at the number of dollars you have to get into these 25 properties, and buy something larger.
REI i$ a number$ game. That doe$n't mean the number of propertie$.