Goal to make $50,000/ year in cash flow

[Matt Burgess]

Hi everyone, I am a complete newbie but I have been listening to as many podcasts as I can and I also read "The Book on Rental Property Investing" by Brandon Turner. I found the chapter on planning to be especially useful. I have been running in place, trying to get started on my real estate journey and a plan seems like a great start. This seems super obvious now that I am writing this, but for whatever reason, I didn't think of it before! I sat down to choose my goals and then try to work through them backwards. 

My first goal is to achieve $50,000 per year in cash flow before my 27th birthday (I just turned 21). For anyone who has already gained experience, does this seem achievable? Also what kind of financing would you recommend? Any feedback would be greatly appreciated!

[Joe S.]

Originally posted by @Eric James:

A lot of people who focus on a making big money number end up giving up. Focus on the next deal.... then the next.

That’s exactly right. 

[Alex Ballesteros]

Hi Matt, I am also just starting out in the world of real estate, and seeing this post made me realize to set up a 5 year goal to achieve. Reading thru this post gave me some good insight. Best of luck on your journey! - Alex

[Cameron Braig]

@Randall Alan

Thanks for sharing. The detailed numbers were helpful and insightful.