Passive Investor w Home equity needs advice

[Miles Presha]

Hey folks....

I'll put bullet points to spare your brain...

I'll be coming into some nice equity soon - prob 1-200 K when I close on my fixer.  I am living there now and still need a few touches to bring the house up to par.

1. still needs a new roof, exterior paint, and kitchen upgrades. Want to build out attic which would triple value of the house

2. Would like to take a HELOC at some point to put 100-150K in cashflowing investments

3. I live in L.A. so considering out of state

4. Have done some mobile home investing  - takes lots of work but has cheap buy in

5. Binging on education  - Turnkey, Multifamily, Mobile Homes, modular

6. What to do?  My plan is to generate 15-20K in passive cashflow a month as my target to leave the rat race  What's the fastest way there without having to be super active?.  Willing to do some traveling, but mostly as checking in on properties

Whaddya think?  

thanks for reading,

Miles

[Thomas S.]

15-20K income from passive investing is a huge amount that will require either a great deal of work, turn around park, or very deep pockets.

Biggest issue with parks is getting financing.

With 150K you will be a very long way from your income goal. It is going to take some time. With conventional brick and mortar, $200 per door you will need 75 doors. With a MHC you will need 150 lots with rents in the range of $300/month in a nice community.

I can not see easily reaching your goal without having to work very hard and put in a lot of long hours. Not going to happen.

Real estate investing is not passive and the fact is the rat race is probably the essayist money you can make. Most jobes only require exchanging time for money.