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Updated almost 4 years ago on . Most recent reply

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I need Investment Strategy advice please๐Ÿ™๐Ÿผ๐Ÿ™๐Ÿผ๐Ÿ™๐Ÿผ

Posted

Hello everyone who is reading this and thank you in advance for any advice you can give me. Ok so here it goes, letโ€™s say that I will soon be able to invest about $40,000/year in Realestate. Iโ€™m interested in acquiring rental properties and I was wondering if I should buy a property, in the $250,000 range, and use the $40,000/year to eventually pay the property off then repeat or should I save those 40k every year as a down payment to get a hard money loan once a year and try to buy a new property every year or so? 

-Chris

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Replied

Yea that does makes a lot of sense. I own a business so my risk tolerance is pretty high but Iโ€™m going back to work as an aviation mechanic and hope to be making about $55k/year. I helped my dad invest in a duplex  about two years ago and itโ€™s rented to two great section 8 tenants so I kinda want to follow down that path and also have some passive income eventually. 

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