12 months into Real Estate Investing

[Dale Carlson]

I wanted to thank all the posters and feedback to discussions that i have absorbed over the past 18 months.  i would not have ventured into this without this website and the communities discussions (and what a mistake that would have been!)  It's been one year since i made my first purchase, and I have gone from $0 passive income to a projected $2400 this year.

My first purchase was a year ago - a triplex that is cashflowing about $300/mo (i partnered with my sister).  My next purchase was a package deal of two duplexes that are cash flowing at $1000/mo.  I saved all of that money, and just recently purchased another duplex on 2/28.  The lower is rented, and the upper needed a little work, but it projects to cash flow about $700.  The rehab of the upper took about 12 days, and i added some photos (mostly cosmetic improvements).  My wife wanted no part of the real estate investing world, so i bought her a bulk vending business that nets about $400/mo.  (not bad for one day of work per month).  $2400/mo passive income and that doesnt include the hard money loan that I loaned to someone for a rehab (i havent been paid back yet, so I am not counting it, but that would be another $800/mo)

My goal is to repeat the last year 3 more times, and that should get me pretty close to my financial independence number.  

It has been nerve racking to jump into this, but my only regret has been that i should have done this when i was 27, not 47.  

[Michael J. Beasley]

Dude, that's so inspiring. It's insane to think of how possible it ACTUALLY is. Keep it up. I'm right behind you... ok, I'm pretty far behind you. But this little post reminded me why I'm doing this.