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Updated over 7 years ago on . Most recent reply

User Stats

16
Posts
7
Votes
Lee Self
  • Columbus, OH
7
Votes |
16
Posts

New and Seeking Advice

Lee Self
  • Columbus, OH
Posted

Hey guys! Just stumbled on the podcast last week and am about 15 episodes in so far. As the forums are frequently mentioned, I thought I'd throw my situation out there and see what peoples' thoughts are.

I'm 27 years old and living in Columbus, Ohio. At 22 I started a company that ended up very successful and I sold it in 2015. Since then, I've been enjoying the fruits of my labor but I want to take some of my payout (that comes to be in monthly installments), and start putting it into real estate. I'll have $4,000 a month that I can invest starting next month, but at the moment I have little liquid capital. My thought is to save this money and buy a rental property every 6 months for the next 2 1/2-3 years (at which time the payments run out), and then use the income from those 5-6 properties to keep expanding every year or so.

Are there any improvements I can make to this plan to either make it more realistic or more efficient? I have a great head of numbers, fiddling with spreadsheets is a big hobby of mine, business is a serious game that I'm seriously addicted to, and I could sell snow to an Eskimo. I will say, though, that I don't like cold-calling sales and I'm looking to develop a stable backbone to my financial life. 

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