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Updated almost 6 years ago,
Advice for new investors with a full time job
My current end goal is to create a passive, sustainable stream of income that will allow my family and I to travel and with a good deal of flexibility and not require too much time investment per week (would 20-30 hours/wk be an unrealistic expectation once my business is up and running?).
I currently have a full time job that I enjoy but will not allow that to be an excuse not to invest.
Here is what I have done so far in terms of REI:
- Joined BP of course and currently engaged in analysis paralysis when it comes to active investing.
- I participate in several syndications and so far those are going well but I am not at a point where I can generate enough income to replace my current salary. Even though the returns so far have been great, this also ties my money up for x years.
- I am a member of a mentorship program that will help me to invest in SF/duplex/fourplex properties, just not sure how this strategy stacks up against trying to jump right into MF.
I would like get advice from other folks who have started their investing careers with a job and were able to generate enough to pay their expenses through their investments while still working full time. I'm curious as to how long it took folks to accomplish this and what investment paths they used (wholesaling, SF BRRR, notes, MF syndications, turnkey, etc). Also, what were the first steps you took to begin your investing career.
Thanks for your time.