Howdy from Plano, TX

[Vinod S.]

Hello All,

I am a "newish" member who has been lurking for a while and enjoying the newsletters and blog posts so far. I became an "accidental" landlord when we couldn't sell our primary home after a move. In spite of a less than positive experience (bad tenant, long-distance relationship with the house :-), we decided to continue along that path and bought a single-family home last year that has worked out well so far (although I did have some questions related to that - I'll save that for another forum)

I am actually not sure what our next steps should be in REI, since our primary jobs keep both of us quite busy. Hopefully interacting with other members will help us decide. My long term goal is to generate enough passive income so I could retire if I wanted to (although I probably won't!).

Vinod

P.S.: Still working on my profile pic :-)

[Kiran R.]

Welcome @Vinod S. Wish you all the best for hitting your goal !!

Not sure if I am qualified to guide thru the next steps, but if I were you I would do the following

1. Connect with other investors, mentors both on Bigger pockets and in your area.

2. Break your bigger goal into bite sized goals. Come up with a plan on what it takes to achieve the goal. Need not be very detailed. Lets say your goal is to have passive income of 5K per month, break that into smaller bites - add 1K of income every year, so you reach your goal in 5 years.

3. If you haven't already picked your market, (the city you live in, or some city with in your state, or out of state) do your research and zero in the city, neighborhoods etc