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.