This is a question for the well experienced and seasoned entrepeneurs who wish they could go back and do it all over knowing what they do now.
I am a pre-newb. In about a year, I plan to take a chunk of cash totalling 100-200k and use it to generate income. The goal is delirious wealth, or in the shorter term, a solid income stream of approximately 120k/year, with expected increase in later years.
I am new to these forums, but as a college student I was a mover over the summers. I was pre-med and would always ask the doctors what they thought of their profession. They almost all said the same thing, that it paid off extremely well later in life, but took a long time to show benefit, and the hours and stress were devastating. While I did not specifically interview real estate movers I kept meeting them as they were constantly selling their homes and hiring us to lug their stuff. I noticed a similar theme. They were relatively affluent, and much happier about how they were making their money. I understand that some people can do this with stocks, but I never seem to meet these people. Either they are so wealthy that they live in an alternate reality, or else they are just rare. I am guessing a little from column A and a little from column B.
This is where my mind is now;
[i]Commercial properties are less risky/stressfull investments
Renting properties should be done through a mgmt service, otherwise you cannot expand; the details will drown you
Birddogs would be useful if there was a way to qualify their trustworthiness
Because I want a "job replacement" income stream I need properties that will show positive cash flow in the short term.
Diversification should help avert portfolio collapse.[/i]
So, to those who have made it to where I want to be, my question is what would you do if you were me? How would you enter the market if you wanted a confidence infusion and a low complexity scenario? I will of course continue to read the other posts on this forum, please forgive my posting if it seems a bit green.
