Suggestions, Opinions, Guidance on Hypothetical

[Chris Ward]

Greetings everyone,

I'm new to BP and would like to introduce myself and pose a hypothetical situation in hopes of gaining some valuable insight and maybe help others along the way. Personally I have dabbled in real estate to the tune of being an agent, general contractor/builder and flipper. This was all done in another state and prior to the 2008 correction.Since then I have been out of the investing aspect other than buying my own personal home within the past 3 years and selling it after 2 years. I rented after 2008 and since selling am back renting which I think I prefer. I recently relocated to Houston to help my Mom with some issues and will eventually settle in Florida. I have a new salaried position that will help with future investments. I hope to gain some useful knowledge and ideas about how to proceed from this point toward the following goals. My biggest issue is how to leverage my capital the right way to allow acquisition of cash flowing properties. I am actively researching but would just like to hear some real world paths others have followed to achieve success.

Hypothetical 

My goals are to acquire enough rental properties to replace enough of my salary ($5000-6000k per month) to quit my JOB within 5-6 years. I have a significant amount of capital to work with, $275k. I'd like to not spend all of it but instead leverage within reason to allow for acquiring 3-5 SFR properties per year or if feasible acquire enough MF properties to achieve the same result. I'd like to hear about different routes to the end goal and personal experiences with some real numbers and outcomes. What you might have done differently or better to reach the same or similar end goals. Detailed scenarios for each potential route chosen and why. I'd like to be able to replicate some successful techniques with an understanding that some variables will of course be different.

I feel we are all here to learn and teach and hopefully find our own successes. 

Thank you to each one of you and I wish you all great success.

Chris