Are you looking to create financial freedom on investing, or is this just a supplement to a holistic retirement strategy?

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.

One major financial aspect that many people do not take into consideration is the effects of appreciation and property taxes. 

My main reason for considering commercial is because 1) the duplex and triplex and even 4plex market in my area is very competitive and it drives purchasing prices too high. 2) I guess I’m kind of a pretty ambitious guy and my wife has followed my lead and trusted my guidance and I want to help our growing family (2 kids and 1 on the way) meet our financial goals as fast as I can!

Collect money fee, acquisition fee, ongoing management fee,   watch contractor do upgrade fee, hire contractors fee,  disposition fee,   fee for doing refinance,  fee for doing financial statements,   20% fee if sell property at profit.If investor happy with their 5% preferred return great..  

Also, using wrong pro forma figures (eg. using 7% vacancy instead of 20%) can be financially disastrous!

You'll also want to look over the financials to see how well the property is being managed and to make sure there is a healthy contingency fund in place.

You just need to be financially astute and be sure that you are cash flowing with enough buffer such that if something happens you aren't going under. 

However, I keep hearing that we are about to have another financial crisis....so I'm not sure if that is the best route. 

A few years after purchasing my home i found myself in financial problems and thanks for Dave Ramsey, i managed to pull myself out of debt without selling my home (thank you roommates).