Game Plan / Road Map

[Account Closed]

In Turner's book, he talks about four plans an investor can take. They're very detailed and can be modified. This is my version year to year and I would appreciate any feedback.

Overview: 

- End Goal: 100 tenants and thrive with FIRE so I can spend more time with my Son

-Strategy: BRRR House Hack

          - Use Multifamily Properties and buy Apartment buildings

- Financing: FHA Loans

Year 1: Knowledge and Resources

-Obtain 3.5% down payment ($10,500 of 300,000) from job (UPS)

-Gather knowledge: Read/Listen to Real estate books, Listen to Podcasts, Look at properties and practice 2% test and math

-Build the real estate Dream Team  

     -Big 5: Real Estate Agent, Lender, Contractor, CPA, Lawyer

             -Bookkeeper (Optional), Insurance Agent, Property Manager (Optional at first)

-Give team a better name

Year 2: Buy

-Buy First Property (3-4) units that need simple cosmetic repairs and force equity

-Move in (house hack) and rent out other units. Manage property myself

-Build Cash Reserve

Year 3: "Rest"

- Learn to manage property effectively, cut expenses, raise rent as much as possible

-Natural equity increase 3% increase

-Keep building cash reserve (hopefully 6 months by end)

Year 4: Buy and Repeat

- Refinance (Try not to use own cash "recycle cash flow")

-Buy another 3-4 unit property

- Small renovations/force equity

-Move in (House hack) and rent out other units.

-Build 2nd Cash Reserve

Year 5: Rinse and Repeat

-Refinance and Buy Third 3-4 unit property

-Renovate 

-Move in and rent other units

-Get property manager for one of the other 2 properties

-Build 3rd cash reserve

Year 6: Rest

- Build equity and cash reserve 

Year 7: Trade Up or Repeat

- Sell all properties and buy apartment complex (20% down payment), 

- Hire Property Manager

Year 8: Rest

Year 9: Buy 3-4 unit 

-Move in and rent out other units

Year 10: Trade up

-Sell apartment complex and buy larger one

This is only a 10 year plan. I dont' want to think to far ahead because plans change. Also at some time I might quit my day job seeing as I like working for UPS. Maybe i'll keep building my real estate empire past 100 tenants. Thanks for reading and please leave feedback!