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Updated almost 9 years ago, 02/28/2016
I need advice. Help!
This is completely out of character for me to discuss, but I am growing more and more anxious and confused. Let me start of with a basic background for myself. I just turned 30 years old. We started slowly REI about 3 years ago. We have successfully flipped a couple of houses and currently own 2 rentals homes. I am currently president of a farm. I will be stepping away from that role to a part time role this summer.
Here is where my confusion lies. We are in the process of selling an annuity. This is currently what we live off of month to month. Our plan is to dive full time into real estate. I plan on getting my real estate agent license in the next couple of months. I have about a million dollars cash to invest into this venture. We will continue to do some fix and flips as we run across those deals. My wife is really passionate about that side of REI. My main Dilemma is I need to replace about $6500 a month income ASAP, which is what the annuity pays out. I have experience in SFR in which I am comfortable doing. I have also looked into Mobile home parks, and apartment buildings. I would like to hear feedback and opinions from you guys on the best route for us to take going forward. I really love reading the forums, and have gained some wonderful tools from you guys.
Thanks.