Advice on spending $85k-$135k to generate cashflow

[Andrew Kasprzycki]

I have enjoyed the BP forums and resources these past few months though this is my first time seeking advice. I bought my first MFR deal within the last month here in Chicago. All going very well. Learning a ton and enjoying it. My initial deal, a 3-flat, cashflows about $800-$900/month. I am self-managing for now and am somewhat handy which comes in, well, handy. I have a full time, executive level job and am in my mid-40s. REI is my early retirement plan. My main objective is to generate $15k of reliable, monthly cashflow in the next 5-6 years with a buy and hold investment strategy. I will have access to another round of capital from my W2 job in October ranging from $85k-$135k. Trying to figure out the best investment approach to meet my objectives and would like to put this out to the BP community for your ideas. At this point, I prefer to have deals closer to home (Chicago area) though I realize that may be limiting. Is it better to buy fewer, more expensive deals that may cashflow more (though will require a bigger outlay of initial capital) or to spread out this capital in creative ways to fund a few deals?

[Ken Breeze]

Think BIG.

In my experience and opinion, and you will receive a ton in the days and weeks to come, commercial multifamily is the way to go, especially based on your $15K/month goal. Self-management and local investing won't do the trick. You will need to find and/or partner on deals to scale as fast as possible. There are hundreds of blogs and podcasts to get up to speed on how all of this works. It will take time.

As a syndicator, of course, I'm biased but also more than happy to add my insights to your journey of gathering intelligence. Feel free to PM me to have a one on one conversation about your investing goals, expectations and opportunities. Let's explore if there's a fit.