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Updated about 8 years ago,

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David Arrowood
  • Asheville , NC
1
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1
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Investing not just working

David Arrowood
  • Asheville , NC
Posted

Hello,

I'm new to biggerpockets but I have read many articles from biggerpockets and other similar forums. I am not experienced in real estate, but I have some experience in building through family members that are in the trade. I am a teacher and have been looking for ways to change careers, recently I have been presented with an opportunity from my father for a loan to start some kind of business/investment. He obviously expects a good return, but I feel this is an opportunity of a lifetime that I never expected. So I have been researching lots of real estate investments/business opportunities, and I plan to get a general contractors license. I have researched spec houses, and flips because that interests me but i want more of an investment to establish some passive income. I really want to start acquiring rental properties to achieve financial freedom eventually. So this has led me to the idea of building multifamily units like townhouses, we could save substantially doing the work ourselves because I already have the connections with subcontractors. My idea is to build around 4 units at a time, then sell maybe half to cover the initial investment + return on investment (I may have to finance some to get the return back to investor). but afterwards I would hopefully have 2 units to rent with a very small mortgage payment. If I could do this 2-3 times a year it could potentially provide substantial passive income/investments. I have not found much about anybody doing this type of thing, could this work out logistically or financially? I appreciate all and any input, I realize that everybody takes different paths but I feel that this path could work out for me. Sorry for the lengthy initial questions and introduction.

Thanks!

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