Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 9 years ago, 02/25/2016
Is this a realistic 7-8 year goal as a REI?
Hi BP,
I'm a new REI (with a focus on buy-and-hold investing) and I'm wondering if this map plan that I have for my future is tangible for:
1) quitting my job BY 30.
2) Living financially stable.
My plan is to buy 1 multi-family per year up until I reach the age of 30 (this age is subject to change to maybe 32..). That means over the next 7 (or 9) years (age 23 now) I will have accumulated 21 (or 27) units. There are a number of things to factor in that I don't yet know (taxes, mortgage, etc) but the math that I've done seems promising. Please note that I'm just using random numbers.
I was wondering if you all thought this was a tangible idea and something I could live off of comfortably? Let me know!