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Updated over 5 years ago on . Most recent reply

User Stats

72
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Chad Lundquist
  • Investor
  • Kansas City, MO
26
Votes |
72
Posts

Need Advice to get Financially Free

Chad Lundquist
  • Investor
  • Kansas City, MO
Posted

Hey Bigger Pockets community, I could use some advice. I currently own 3 rental properties (in Kansas City), 2 of which are free and clear and I would guess I have somewhere between $150,000 - $200,000 in equity to play with. I'm wondering what the best plan would be to get financially free, sooner rather than later. I've read a lot about the BRRRR strategy, but it's hard finding good deals that would work for that strategy (maybe finding a wholesaler would work?). I've owned a small apartment complex in the past and I'm pretty handy (electrical, plumbing, framing, tile, drywall, etc.) and I only work 40 hours a week so I have the time to rehab or to learn from an experienced investor that would be willing to take on someone to mentor.

Any suggestions / advice is welcome. Thanks in advance.

  • Chad Lundquist
  • Most Popular Reply

    User Stats

    4,756
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    Greg Dickerson#2 Land & New Construction Contributor
    • Developer
    • Charlottesville, VA
    4,399
    Votes |
    4,756
    Posts
    Greg Dickerson#2 Land & New Construction Contributor
    • Developer
    • Charlottesville, VA
    Replied

    @Chad Lundquist the first step os to determine the income you need to replace and work it backwards. Commercial and Multifamily will definitely get your there much faster than residential. You need to be actively looking at a lot of deals these days as there is lots of competition for good properties but deals are out there. 

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