What would your strategy be?

[Ryan McElroy]

If your goal was to build $300,000 of passive income per year in real estate, how would you go about doing that? What would you specific strategy be?

[Steve M.]

1)  I'd start with $5 Million in the bank.

2)  Not put all my egg's in the same basket.

3)  Move $2.4M in to a basic 3 fund total stock market taxable portfolio. 

4)  Spend $2.0M on LOCAL Buy & Holds ... Preferably newer homes (less than 15 years old).  

5)  Hire a property manager (although the homes are local) ~ so I can manage her/him managing my prop's.

6)  Hold $600,000 in cash for 2 years worth of expenses (emergency fund) ~ if indeed, I somehow spent $300k per year.

7)  Travel, do some hobby stuff, grill out and drink beer, and spend time with the fam.