Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 8 years ago,
Seeking feedback on my investment plan
Hi,
I'm hoping that I can get some solid feedback. I've previously made errors in investing and I do not want to repeat...so I'm hoping to get some input prior to going back in :-) I have a fulltime job and a part time psychotherapy practice.
My longer term goal is to make 5k per month for retirement.
My medium term goal is to quit my job and do part time work. in order to to that, I have to pay back the $ I borrowed from by retirement fund or I have to pay major taxes. I used the $ to by the home we live in. It's $40k
My short term goal is to raise enough funds to BRRR for long term hold.
My plan: fix n flip locally and use the profit to BRRR a long term hold in Nevada. Use the refi $ to buy a fix n flip property, use profit to BRRR, use refi $ to BRRR
I plan to find the property via wholesalers, probate list, and direct mail. While I'm doing that...I will continue to educate myself and save as much money as I can. I plan to repeat this process. Currently, I am trying to figure out my process for following up on leads, analyzing, and managing the rehab. I have a good job,decent credit, no consumer debt. I"m trying to decide what I can delegate and how do I want to finance. Clearly this is a vague blueprint. However....I finally figured out where I want to buy...that was tricky. I also have options for contractors, handymen, and realtors. I am acquainted with two good attorneys. I have a great accountant. Any feedback would be much appreciated.
Kathy