Time to get to my goal of $10K a month net cash flow

[Ken Lim]

Hi I'm Ken Lim. I'm 50 years old, just sold a business. I really don't want to go back to work. I have 2 duplexes already that cash flow well. But I want to get to $10K a month net cash flow so don't have to go to my W2 Job. I stumbled into my first 2 duplexes I was lucky, now I have to go out on the market and find new stuff I'm a little bit anxious doing this. I looking for support from the BP community to help me along the way. 

[Chris Seveney]

@Ken Lim

You have come to a good place. One thing that is important to understand is what is your current financial position - how much cash do you have to invest right now. For someone starting out with not a ton of experience to get to $10,000 month I would recommend they have around $1.2M in cash to invest.

That would give flexibility to do

Private lending OR invest in assets. For straight cash flow I would go private lending route.

One mistake we see many do is they buy in lower quality areas expecting better cash flow but the cash flow gets consumed due to higher than expected vacancy, delinquent payments and repairs- so be careful where you invest.