In need of some Direction

[Christian Leon]

Hello BP community! 

I am fairly new to the real estate game, and I have one rental property that I have had for over a year that is cash positive and I am fortunate to work a job that provides a decent income. I am looking to expand my portfolio, and be financially free within 2 years so I can invest full time, and not have to deploy anymore (downside of making good money). My question to you all is simple; what direction should I go in order to facilitate my goal? I'm not sure whether to go multi family next, apartments, or some other way I am not thinking of. There is a wealth of information here, but it can be a bit overwhelming. I am ready to put in the time, work, and money, I just need some guidance to get the ball rolling. Thanks!

[Rick Pozos]

You want to be financially free in 2 years?? Doesn't everyone??

Let me let you in on a secret, IT IS NOT GOING TO HAPPEN. What you can do is buy another rental property every 6 months or every year or maybe even every 2 years. Buy properties that are going to cash flow. Put most of the cash flow into the first property to get it paid off as quick as possible. With the cash flow from several other properties you should be able to get the first one paid off in about 7 or 8 years. Then keep paying off #2, then #3...

In about 15 years you should have several properties paid off. You might be able to not have to work anymore. But then you get bored from not doing anything all day. You will probably end up doing some kind of work that you like instead of what you have to that pays the bills. Now you have plenty of income and a job that you find fulfilling and you are happy.