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Updated about 8 years ago,
Secure financing to achieve specific goals
Getting right to the point.
Current profile:
Age 33, single, no children, full time employee w/ annual salary of 49K, 403B Retirement Account of a little over 45K (as of today), Money Market Account of 30K. 700+ credit scores across the board. No debt.
Monthly Fixed Expenses:
$1,500
($1,170 of that is base rent for my apartment in a suburb of Syracuse, NY )
Monthly Average Spending:
$2,200
Goals:
$3,700 positive monthly cash flow
Quit 9-5
Method for Obtaining Goals:
Turn-Key Rental Properties through out-of-state companies
Questions:
Will it be possible to get qualified for financing to obtain the amount of rental property needed to achieve the above goals given my profile?
If I were to quit my job today, would I be able to obtaining financing to achieve the above goals?
Possible Wild Card if needed, but prefer not to use:
Generous and loving father willing to give up to 100K to attain above dream. Would much rather accomplish this with 100% independence, but if the seed money is needed I would consider.
Conclusion:
Let's assume I've done the research on Turn-Key companies and have found a match.
Am I crazy? Probably. But I know some people on this Earth have made this happen. Any advice would be great. Preferably not advice saying, don't quit your day job, you're unrealistic, keep dreaming, nice try, etc.
Thank you everyone!