Best Beginner Strategy

[James Bradley]

I've read over the intial guide for entering real estate, chapter 3 discusses some of the strategies. I'm still unsure which would be best for me. I'm looking for some help, or direction? I'm starting with roughly 150k cash in hand, What ways would be the most reliable to get on path to generate 4k a month NET profit? I'm looking to leave my 9-5 and do something in realestate as my primary source of income. 

[Raphael Collazo]

I second the "house-hacking" suggestions. According to a recently published "Business Insider" article, the average American spends close to 35% of their household income on housing. If you were to purchase a duplex, triplex or quadplex and rent out the other units, you could potentially eliminate this expense entirely. This would help reduce the money you need to achieve financial independence closer to $2,500-3,000 per month instead of $4,000. Along with that, since you'd be living in the property, you would qualify for "owner-occupant" financing which would reduce your down payment to as little as 3.5% (FHA).

I bought a quadplex in November 2018 and I've been house hacking it ever since. The rents from the other tenants ($1,830 per month) are enough to cover my mortgage, taxes and insurance payment for the property ($1,750 per month). I plan on using this same strategy in 2020. It's a repeatable process that could help you achieve financial independence in the next 5-7 years. Hope this helps.

All the best,