Rookie in Hampton Roads, VA

[Reynaldo Ramirez]

Hello! I have to say I am obsessed with the idea of building wealth through real estate. I am working on learning how to get my first BRRRR property, but looking for the area to invest in, where the numbers make sense.

I am going to start with a HELOC from my primary but that will yield about $60k for down payment and rehab, so it feels tight.

The goal is to have 35 properties in the next 30 years yielding an average of $300 cash flow. That way I have retirement income and equity, AND my wife and I want to have something to leave to our kids.

Still I’m the learning and research phase, but will be shopping HELOCS and lenders very soon.

I am loving reading all the post, blogs, and books. 

[Kerry Baird]

@Reynaldo Ramirez, to meet your goals you can do a number of things.  We started out moving into slight fixers and renovating them up over time.  We turned the primary into a rental, and repeated that.  While my husband deployed, I wholesaled a number of houses, and used the money to buy long term holds...flip, flip, buy and hold. 

There still is a strategy for cash flow houses, and appreciation houses...but they aren't the same type of property.  We have 3/2 brick starter houses in a laterally trending market in Texas that work for cash flow, and we have houses in a vacation spot in Florida for appreciation.  We got to 39 houses in 22 years.