Starting out with $5,000 and creative financing?

[Scott Isley]

Hello Team!

Been reading posts for a couple weeks now, the open flow of communication and genuine help from those more seasoned is wonderful. Thanks Josh what a great resource! (Great podcasts too....????)

So my question is this:

As I read forum posts and my real estate investing book list (looking into the CCIM course as well by the way)

I'm developing my initial strategy to implement this year. What I'm wondering is what recommendations in terms of property type, financing and area would you recommend given a personal investment of $5,000 per property + creative financing. If my goal is to purchase enough multi unit properties to cash flow $6,000 per month within a year. (Again not married to the strategy just yet, but curious to know the experienced investors thoughts on the matter)

As I am in the fitness industry and have been for 10 years. If someone new comes to me and says "I want to lose 100 pounds in 3 months" I would let them know that that is mathematically improbable if not impossible and guide them to a realistic high and low scenario 10-40 pounds...kind of the idea with leveraging the wealth of knowledge here :). Could use a realistic approach.

Im comfortable with put of state, 3rd party management ( Ken McElroy's ABC's of property management is great btw) and am interested in an overall buy and hold strategy.

Thanks for the time fellow BPers!

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Also I live and work in the San Diego area I'm always up for a meet up to discuss RE, feel free to contact me. Also, There was a So Cal BP meet up a couple months ago, I'd be up for another one soon, if anyone else is interested.

Thanks all!!!!