My goal is to completely offset my projected income by 2024 so that I will have the option to walk away if I should decide that I want to (likely will not but having options is what I want most).

Hey everyone, My name is Drew Greene and I am looking to get started in real estate investing as a way of replacing my income over time so that my Wife and I have the freedom to enjoy life the way we really want, traveling and working projects we're passionate about.I am studying business with a focus on Entrepreneurship and Supply Chain Management at Northeastern University.

Do you look for 20% CoC return when you buy, or the projected income?

One of the projects that are underway with Akron and surrounding area, where the City of Akron are doing a Tax Abatement for 15 years, with residential rehabs, and new construction, 5k or more in repair. 

Surrounding properties were being sold for prices far above reasonable market rates and we were receiving multiple offers for high priced, long-term leases on a weekly basis. 18 months after purchase, while many of these lease offers were quite enticing we ultimately decided to let go of the property; taking our deeper understanding of the market and $2.6M sale price with us onto our next project!! 

Hi @Richard Xiong is the projected rent increase based on value you know you can add or projected appreciation?

I have used Lumber Liquidators for multiple projects and very much prefer them.

We each have our own LLC's but should we start a new LLC for this project?  

@Abel Lopez also consider that, when you'll need to exit and pay the balloon payment to the seller, that bank interest rates will likely be higher than the are now, so be conservative in you future projections.

Thank you.Happy to discuss project location and specifics in private messages.