Goal of 5K month - best way to proceed?

[Chris Gordon]

Question for the group to sanity-check the direction I'm going....experience is finding out there's a better way after you're done.

My goal is to achieve 5K in so-called passive income per month. That seems reasonable and achievable, and I think there are more than a few folks on BP who are there. 

I define passive as not having to rehab, wholesale, or any activity that requires me daily to keep the machine going...so that more or less leaves buy-and-hold of some type, perhaps buying notes, maybe something else I'm not thinking of. I welcome disagreement on this point.  

Let's say I had 300K I'd be willing to use towards this goal.

My current plan is to gain experience in landlording, rehabbing, building a local team, finding deals, with the aim of BRRRR-ing properties (right now SFR and small MFR, but maybe larger commercial once I have a handful or properties) over the next 5 years to achieve this.

Better ideas? Recommendations?

thanks

[Joe Villeneuve]

Easy.  You're probably less than 2 years from that right now...assuming you actually have that $300k starting point.

Plan:

1 - Flip your cash 3 times a year with a profit averaging 15% per flip.  In less than 2 years you would have over $600k.

2 - Use that $600k as a 20% DP on a NNN (or more than one NNN) with just under a 9 CAP (avg if more than 1 NNN)

3 - Should get you $70k/year (=/- a few hundred)