Innovative Strategies
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 6 years ago,
22yr old investor and my plan. Would love your feedback
My goal is to achieve 3000 a month in real estate for my future and i would love to see if my following strategy sounds realistic or if it can be improved. I’m open to hear everything.
THE FOLLOWING IS MY SCENARIO:
I’m 22 and I live in NYC BROOKLYN. I want my first property to be a triplex or fourplex.
Everything in NYC is expensive so my plan is to purchase my first property in New Jersey using a FHA loan.
Once I have that loan and get the property I want to use the BRRR strategy and continue to get a couple other triplexes or fourplexes. Also how much money should I save for the Rehab portion?
I really do not want single family homes or 100 properties.
Just want about 3,000 a month of passive income in a future from my properties.
What do you guys think?