New real estate investor Birmingham AL

[Brandon Marshall]

Newbie here on BP and in real estate investing. Just wanted to share my plan to the BP community to get their opinions and advice.

1st I am a 30 year old engineer in Birmingham, Al. I want to start REI with renting C+/B- SFH in the Birmingham area. I intend to buy the first property either late this year or early next year through traditional financing through a bank with 25% down. Since I don't need the cash flow now, I want majority of the cash flow to go towards paying down the loan while saving for potential repairs. After 2-3years take the equity out of that property and buy my next two. The end goal is 5 SFH.

Once most of the loans are paid, use the equity of those 5 properties to buy my first multi family. Again use most of the cash flow from all properties to now pay off the multi family home. Then buy another and another.

I plan to do all this over the course of the next 20 years then retire from my engineering job.

I would love for all you experts to weigh in with your opinions and advice!