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Updated almost 5 years ago on . Most recent reply
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I'm a new investor in rural Alabama
Happy Wednesday everybody. I'm Kyle Shepherd. I live with my wife and two kids in central Alabama - very rural; about 35 minutes southwest of Tuscaloosa, 50 minutes south of Birmingham. Definitely “the sticks.”
Current day job is a web designer UI/UX designer and WordPress developer; I also have eight years of experience in book design and small-time publishing. I'm looking to develop recurring wealth/revenue in the rental market for a few reasons, one of which being so I can secure flexibility and funding for certain research work and writing that I need to do, but can't do right now due to time constraints (day job requires 40-60 hours per week right now).
My current goal is to have 100 doors in the next 10 years, with cashflow of at least $100 per door. Multifamily isn't a thing in my city (apart from converting a SFR to a multifamily, which I hear is not a great idea), so I'll be dealing almost exclusively with SFRs. Probably BRRRRs.
I jumped on board after a webinar Brandon gave a week or so ago on being prepared to buy your first property in the next 90 days. What sold me was the calculators + the treasure trove of back material + potential for mastermind access. Looking forward to using all these tools in the coming days/weeks/months!
Most Popular Reply
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Personally, 10 houses a year seems aggressive as a new guy. I'm coming out of my first project and it's taken 3 months from purchase to flipping to getting a tenant in. I'm working on the refi now. Granted, I'm working one at a time. My advice that I'm following, go slow, especially at first. I worked hard for this money, I want to ensure its spent correctly.