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Updated about 6 years ago,
Best way to maximize investment portfolio and cash flow.
I’ve been trying to maximize my investment potential. Currently my wife and I are able to put away $5,750 away each month into a fund for real estate. We currently own a 4plex and duplex in our home state. 4plex is worth about $440,000 and duplex $350,000. 4plex I owe 372,000 and duplex 297,000.
My goal is to reach 6,000 a month of cash flow minimum. We are looking to leave state once we reach this point. Preferably want to move to Washington state. How do you recommend I reach this goal as quickly and efficiently as possible?
Here is the idea I have in mind. Save 310,000 by Dec 2023. Purchase a 12 plex with 25% down leaving us 60,000 cash for reserves. Then dec 2024 put down 25% on a minimum 4unit property. Do this again mid 2026. Then move to Washington with an fha loan on a 4 unit. Live there one year then buy a duplex in 2027. 24 units times 250= 6,000 a month.
Does anyone know of a better way to reach this goal without hard money lending? Any other creative ideas?