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Updated over 9 years ago on . Most recent reply

User Stats

26
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3
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Matt M.
  • San Antonio, TX
3
Votes |
26
Posts

Would like advice on strategy

Matt M.
  • San Antonio, TX
Posted

Hello!

I'm a 30 year old newbie investor looking to make a go of it as an REI. I'm stuck with a little analysis paralysis and I was hoping to get some feedback through the bigger pockets community.

Current situation:

-Full time employed as an Electrical engineer making six figures currently

-primary residence is on a 15yr note @2.65%. Owe $180,000 and home is worth about $260,000

-Have $50,000 liquid cash to begin investing in real estate

Goals (lofty I know):

-Retire from day job by age 50

-own home in San Antonio (primary residence), own home in Port Aransas, TX ( beach home), and own home in Winter Park, CO (mountain home). Wife and I would like to live in each home throughout different parts of the year.

-have enough rental income to live off of in retirement

I have done a lot of reading and research but I seem to be just tying myself up in knots as to which direction to go. I'm leaning towards multi family rentals but I figured I would reach out to more experienced investors on the site to get some ideas on strategies for starting out in my position. Thanks in advance,

Matt

Most Popular Reply

User Stats

328
Posts
88
Votes
Mark Shaffar
  • Real Estate Agent
  • Madison, WI
88
Votes |
328
Posts
Mark Shaffar
  • Real Estate Agent
  • Madison, WI
Replied

@Matt M.

 use the 50k as down payments on a bunch of high quality rentals. save the cash flow and over time use it as down payments on the next one. Also, read Mrmoneymustache.com and lots of BP. Good luck!

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