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Updated over 3 years ago on . Most recent reply

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Ryan Cavanaugh
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Looking for some feedback about next steps....

Ryan Cavanaugh
Posted

Hey BiggerPockets hive mind, my name is Ryan and my wife and I just purchased our first investment property. It is a 4-unit in Columbus we purchased for 350k, 30yr term, 2.25%interest, cash flows a grand. One unit had a fire and our insurance is putting a handsome chunk of change that will really boost our property value. Our goal is 10k in passive income. I want to be aggressive taking some measured risks while we are young enough, but I do t want to be stupid. What would you all recommend for next steps/pacing? Feel free to ask clarifying questions, we are pretty new to this... I work full time as a General contractor but my skills are more suited for entrepreneurship and management so I’d like to phase out of physical labor in the next few years...any advice would be appreciated! 

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Canesha Edwards
  • Developer
  • Atlanta, GA
424
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475
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Canesha Edwards
  • Developer
  • Atlanta, GA
Replied

@Ryan Cavanaugh

Hey Ryan-

If I were you, I would be looking for fixers to renovate and rent out. You have a great advantage as a GC. If you have the funds, I would try to find something to BRRR.

Happy Investing.

Canesha

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