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Updated over 4 years ago,
Strategy for a Corporate Paid 27-Year Old (HELP)
Any and all suggestions are welcome, but please don't be an asshat and troll my post, because I'm looking for some real advice...
I'm 27, live in Tampa, FL, have a great corporate paying job that earns about $100k/year, and would like to passively earn a total of $200k by year 15 (Year 1 is 2021) in order to put a down payment on a dream home. I did some really quick (and probably bad) math, and estimated that if I found 1 investment vehicle every 2 years and received a positive cash flow of $3600/year on each new investment, then I'd come out where I'd like to be in between years 13 & 14 while owning 7 properties and passively making $25k/year.
My strategy needs A TON of tweaking, but my initial thoughts are to invest in a multifamily house with my buddy who owns 4 properties so I can get my feet wet, learn the basics, and then branch out to other multifamily houses over the next 5 years. Then, I'd start considering small & large apartments around year 10. The idea is to buy and hold all of these.
Now please be honest with me. Is this realistic? One of my biggest things today is that I want these investments to require as little oversight as possible, at least for the forseeable future, so I that can continue building upon my career without letting this hinder my professional goals, which are fairly ambitious. So in hindsight, if any of this looks screwed from the get-go, then I'm all ears to suggestions and providing more information if needed.
Thanks a ton