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Updated over 11 years ago,
Information overload!
I feel like I have ADD....I started looking into REI to flip houses for cash. Then I realized what I really want is passive income to eventually quit my day job.....but first I need cash to pay off my debt....oh, wait you can carry contracts on mobile homes and they are cheap to get into...or wholesaling.....I'm exhausted now I need to take a nap lol.
Seriously here are my goals:
My net worth is about -110k , yes that's a minus sign. I am underwater huge in my house as well as credit card debt. ( We have not used then in almost two years and are paying on them).
I want to pay off all my bad debt and get out of my house (want to downsize possibly owner occupy a multi-plex)
Establish about 7k in net profits per month.
Net worth of 2 million
Timelines:
Debt Paid---3 Years
Income of 7K----10 years
2 Million net worth----17 years
What do you think? Impossible?
The good news:
I have good steady income and excellent credit. I also have a small side income that I can use to start my business.
Any comments would be great!