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Updated over 6 years ago on . Most recent reply
Greetings! Newbie from Gainesville, Fl
Hello All, I am new to the Real Estate scene. I am currently in Gainesville, Fl for school. I am on track to get my Real Estate license soon, and will look for a broker to sign under while i'm in school I will become an agent full time.
My goal is to have 500 cash flowing units by age 35 and i'm currently 19 years old. ( I will be uploading picture soon)
Thinking in reverse I plan to do this buying my first property while in college whether that be single family or a duplex, as my months of research have deemed that this area isn't as strong as others when it comes to 2-4 units. After that I plan to make a career in the financial sector in a major Florida city such as Jacksonville, Orlando, Tampa, or Miami.
The next steps logical for me is to look for another property by my graduation 2020 at age 21, this should be a small multifamily 2-4 units hopefully four units which would put me at a strong 1% of the way to to goal. After that I will focus on expanding my reach and find a small apartment complex 8-24 units, although I know this will be capital intensive I plan to keep my savings rate around 60 or 70% of net income to make this happen.
Judging by my best case scenario I will have around 29 units about 6% to my goal, but the knowledge and connections will hopefully help this grow exponentially to help me reach this goal by age 35.
I hope to connect with a lot of members out there especially those out of Florida, also I've searched and scoured and I see no Gainesville RE meetups this needs to happen no one around me is as interested in this as me, and having liked minded people around will only benefit everyone around.
Most Popular Reply
Welcome to BP, Bryce! Great to see that you have such precise goals! Starting with MF is THE way to go! You don't have to do it on your own; you can partner with an experienced investor and be a partial owner of 20, 50 or even 100 units. Find a way to add value (find properties, analyze them or raise money).
Good luck!