All Forum Posts by: Skip Gilliam

A little background on me, I'm 38 been with my current company 22 years managing a large retail business. I get paid fairly well, $90,000+ annual salary but I'm just exhausted with the hours, nights, weekends and holidays and stress from daily operations. My wife has a better career, has a higher salary than I do , well over 100k annually and we collectively have roughly 800k in retirement accounts 401ks and stocks. We are in good shape financially but I want to transition out of my stressful career and on to something better. 

I'm want to start investing in real estate so I can generate enough income to leave my job and have more family time. Looking for advice on where to start and how realistic is it to think I can start earning close to my current salary within the next two years in real estate? 

Thanks for any advice!!

Steven...$1300-$2000 is the range here depending and location of the home. I am looking for rentals. 

Jerry...I don't think I've seen a tri or a 4plex anywhere close to where I live. Mostly single family homes and larger apartment complexes, condos or town houses. 

Just starting to look into a few listings. Just to see what is out there in my area, I called our realtor that helped us buy and sell our last house. I asked her to send us some listings to take a look at, she sent us 20 listings 2 are foreclosures. Not really much available in desirable areas under the $150,000 price point,  $139,000 is probably the lowest for a single family home. 

Running some of the numbers and quick calculations from BP on these houses, they just won't work. Finding $100,000 houses like I see on several examples just doesn't seem possible in this area. Also read on one of the articles that rent should be 2% of the value of the house which seem ridiculously high. $130,000 home x 2% would be $2600 in rent. No way is anyone paying that much rent on a $130,000 house. Would love for some advice or direction on how to move forward? 

Thanks for any help

Interested in investing in rental properties. Ive been working/managing for a large retail company for the last 22 years, looking forward to transitioning out of the corporate world over the next 10 years to enjoy an early retirement...hopefully.