All Forum Posts by: Saul Rosenburg

Good question.
I am fairly new to this game, but there looks like a lot of good ideas and opinions on this forum that may help you form a plan.
I am also working a plan with a goal like yours.
I like option "C" the best. I am thinking about doing something like that myself. Just cant beat having cash and very little risk. Try woking out a simulation where you pay each one off before buying the next. Before long you will be paying off each property in a couple years.
If your brave, feel good about your current investment and can read the future, then go for leveraging more properties.
Good luck.

Thanks to everyone for their two cents !

I am going to look into multi family buildings as well as more single family houses. I like the idea of SF because there are many multi plexes in the area.
I will also look at investing in nearby communities and remain open minded to that if the numbers look attractive.

Any other ideas or comments welcome.

Thanks again !

Saul

Great response ! Thanks !

Why do you both recommend multifamily?

I was thinking about saving for a 20% down on another SF in my area then using the $3k in cash and additional rent to pay off the house, then do that again about 5 more times. I figure I could have 7 houses paid off in about 11 years, then be pocketing all the rent. Towards the end of the plan I will be paying off each house in about 1.5 years with help from the tenants. Seems low risk and lets me ease into realestate.

Homes are about $150k and rent is about $1200.

Can you guys throw some rocks at that idea for me?
Why won"t that be a good plan?
Is there a bettter way of doing it?
Suggestions more than welcome.

Thanks !

Goal: Provide an income of about $70K in as few years as possible with low risk.
I currently own a property valued at about $150k that is rented for $1200 month. No mortgage.
I also have about $2k a month to invest in addition to about $1k from the property listed above. Total of $3k a month to invest.
I have awesome credit and can do most handyman work myself.
The local area doesn't have many bank owned properties or forclosures.
At this time I am looking for investment stratagies. Please suggest.
Thanks !