All Forum Posts by: Ed Schell

ya sorry for the huge misunderstanding, I may be new here but I know that investing 400k is not gonna magically give me 1 million a year out of no where. What I meant to ask was if I where to start out with 400k what kind of path would I take to achieve a million a year. Even if you started with less or more I would like to know how you traded up to achieve a million or close to it and how long it took

Does anyone on here make a million or more a year in real estate? If so can you go through how you came to make that much? I plan on saving up between 300-400 k for my first multi family investment. Any suggestions on what kind of property I should buy? All answers are greatly appreciated

Thanks Alexis and I'll make sure to add that book to my list

Thanks for all the positive feedback guys just to answer some questions...I do plan on going to college (80k out of high school is impossible) I'm 5 chapters into rich dads real estate book and what I plan on doing is holding the job until my investing becomes real big then I will retire. I currently work at a restaurant and I would be really interested in attending an investors meeting and some sort of real estate internship. What I plan on doing is working from my parents house for 3-4 years so I can save up for my first investment this way I don't have to start from the bottom.

This is hypothetically speaking (I'm still in high school I'm just weird enough to plan that far into the future) I would like to know if someone could help me build a plan to eventually be making a million dollars annually in real estate (I know, huge goal). So this is what I plan on doing. I would have around $160,000 saved up and I'm looking to purchase multi family properties. I also plan on living in Florida (specifically the Tampa bay area but I'm not completely sure yet). I also plan on having a full time job that initially pays somewhere around $80,000 annually. So what I'm asking for is help building a plan and knowledge on how to trade up to huge properties with several hundred units. All answers are greatly appreciated.

thanks I appreciate the responses

@Bryan L.

If you plan on getting an LLC does this change?

Hello folks, I am a beginner here on BiggerPockets, I'm here mostly to educate myself for investing in the future. I was reading the beginners guide and in chapter 7 it begins to talk about my business or company. What does that mean? Will I have my own office space to operate? Or does it just mean that I will have an LLC? Replies are much appreciated