Newbie : New to Real Estate investing | Any input or Advice?

[Keith Mudiappa]

Hey All,

My wife and I want to start generating passive income via real-estate starting this year (2020)

We currently work for a non-profit organization. We have around 9K saved up and want to start investing it in real estate. We’ve cut cost where we are can and want to do so more as we comb through our budget. We have 750+ credit and pay our bills on time.

My question is what would you advise us to do our first year being in real estate investing?

We spoke to a financial advisor and he suggested us to invest it into a “secondary home” which would net 200-500/per month cash flow and also a “primary home (Duplex)” which we would have tenants that would pay for our mortgage, preferably to start generating passive income.

Any thoughts or input on this strategy?

Our long term vision (10yr plan) is to generate 15K passive income per month so that we can pursue what we really love doing, which is our current work in the nonprofit sector.

Anyways, hope this question wasn’t too long, but any thoughts or input would be greatly appreciated. Thanks.

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