@Josh E. I’m disabled in the sense that I can’t do heavy lifting. I have a strong carpentry background frame to finish from growing up working at my dads construction company. I also hold a masters plumbing license from Massachusetts, and a national fuel gas code masters license NFPA 54 and 58 to install and maintain gas and propane distribution systems in both commercial and residential. My brother is a roofer/sider and my other brother is a healthy younger carpenter/mason. Those guys live a days drive away, but they come and stay often enough to handle construction issues. I could handle all plumbing and heating issues (except oil and electric) with a minimum wage helper. The only trade I don’t have locked down in my family’s is electric. The guy that I am renting my house off of right now is actually a master electrician. He is open to help me out but he is not readily available for on call situations. I also have drain cleaning machines in case of any back ups. I think when it comes to maintenance I feel comfortable that everything will be all set. Because I am getting this money, I no longer qualify for financial assistance, and this $220,000 is all I have to create income for the rest of my life. Right now my household budget to survive costs $921 a week. My goal is to make more than that, but not less than that. My thoughts were that if I could spend $30,000 on a two family home and buy seven of them at or around that price, that it could potentially generate $7000 a month before taxes and insurance if all the units were full. I am going to the library tomorrow to get some books so that I can learn about what to expect with how many units would potential he be full on average so I could get more accurate math because I’m sure that having all of them rented at the same time is probably rare. I have a lender, a bank, but they won’t consider giving me a loan until I can prove future income of two years. So my thought was to buy the first two houses for cash and then the bank would talk to me. The gentleman at the bank didn’t put it in writing but he said that hypothetically “ Buy two houses for cash on Monday, call me for a mortgage on Tuesday”. So I guess if I bought two houses on Monday i would see how real he is on Tuesday. I found a pretty decent realtor that is someone local that I met with. I would love to hook up with somebody who has the same level of energy as me, but that seems rare. The realtor owns 14 units himself and had a lot of good advice. He also has five star rating on Google with about 200 reviews. He referred me to The accountant that he uses.
My ultimate goal would be to create enough income where I could continue to buy more and more properties within this same price range, with the same price to rent ratio of $30,000 for the house bringing in $1000 a month in rent
