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12 August 2018 | 2 replies
So if I start with a duplex or a quad as my first property my goal would be to have a net cash flow of $500I intend to use the "BRRRR" (Buy, Rehab, Rent, Refinance, Repeat) method but have never used this strategy before so I still have a lot to learnIf I only close on two deals starting in 2019 then I will need to find another 20 deals in the remaining four years (2020-2024) that also meet this criteriaBeyond 2024 I plan to continue to scale even more over the next 3-5 years with an end goal of financial independence by ~2030 (meaning that I will not work a "day job" but will passively manage my real estate portfolio)Biggest hurdle: I'm going to be living outside of the US for the next 3 years and will (likely) not be able to physically see any properties that I plan to purchase.
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19 August 2018 | 14 replies
If you are planning on making a living or becoming financially independent, it will come much faster owning the homes.
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14 August 2018 | 8 replies
Fortunately, I have excellent credit, but I’ve been an independent contractor for the past 6 years, so I worry about qualifying for a mortgage.
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14 August 2018 | 3 replies
Hi BP forum members,I read Rich Dad Poor Dad years ago and since then have always been interested in becoming financially independent through real estate.
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16 August 2018 | 18 replies
To add more context:The ultimate goal is income => financial independence.
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17 September 2018 | 1 reply
I am looking for recommendations for an insurance agent in the Independence, Mo. area that is familiar with buy and hold investing.
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26 November 2018 | 4 replies
If all goes as planned I hope to begin investing in February (after the wedding); until then I'll be building contacts, browsing the MLS, and doing calculations on properties i find.A bit about myself; my father raised me to be independent and do manual labor myself and now because of him, I do many of the home repairs myself and like to believe I'm fully capable of being my own property manager (currently own a home i purchased thinking i could grow into).
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3 May 2020 | 8 replies
If they are not able to save up a security deposit, they will not be able to do a number of other basic independent living and financial things, either.Also, don't make the rent too low or you will attract addicts.
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25 January 2020 | 33 replies
I understand my journey as a real estate investor will take some time to become financially independent, but I am in it for the long haul!
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16 August 2018 | 5 replies
The other lender is with Fairway Independent Mortgage, who has a department of renovation loan specialists who come in and assist when a renovation loan is needed.