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Updated over 3 years ago on . Most recent reply
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Looking for some feedback about next steps....
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!
Most Popular Reply
@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