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Updated almost 4 years ago, 01/05/2021
Newb investor in Kansas City wanting to build cash flow.
I've been lurking on the site for some time and would like to get some direction for my axe sharpening. Currently working 45 to 70 hours a week in health insurance sales and am looking to build a passive cash flow of 10k a month to eventually replace my current career and another 10k a month to replace my wife's salary.
A few opportunities that I can work with:
1. I live in Kansas City
2. Will have between 50-80k to invest each year starting 12/21
3. Have a strong desire to become financially independent
4. I have grit
5. Have 60k in primary residence equity
6. Have proven sales experience
With that said, I have a some questions for the BP community:
1. What is the most efficient way to create my desired cash flow with my limited weekly time restraints?
2. How scared of the impending market correction should I be?
3. Would it be more advantageous to wait to invest in order to stockpile cash to purchase multiple properties when prices come down or should I get my feet wet and get started with less than optimal numbers to get experience sooner?
4 What is my very first course of action outside of podcasts and books?
I appreciate any responses and am grateful for being able to post here. If anyone is in the KCMO area and would like to have coffee or meet up give me a shout!
Sam