Next, decide where to roll the money into.It sounds as if you don't want to stay in California.

You can roll it to a self-directed IRA (SDIRA) and buy real estate or privately lend, but you couldn't do that with your personal rental otherwise you would blow your IRA up. 6.5% right now is a great rate...it's lower than what you can get a 30-year fixed owner-occupied home for.

Someone could give a point of view for a real exercise of wholesale ..There is a property that is not for sale but this deteriorated in an area where rehaber would find an opportunity.The property is in an area, which is also a thriving market for such business ..The property was spoken and agreed on a price before the inspection ...The investor and final buyer is at hand ...The day of the inspection costs will be determinedrepair and be given a final offer, putting theproperty under contract.the roll here would be ..controlling the property and then assign this to an end buyer.

Share your thoughts, experiences, or even strategies in the comments section below; then let's get this conversation rolling and make a lot of cash registers ring too!

Let's say after you get 4 of these, then either turn them into LTR or roll them up into some smaller and easier to manage multifamily or commercial property.

Closing costs, expenses to make the property rent ready, and cash reserves add up to a lot more than you think.10-15 years for a FI goal is reasonable, but understand the snowball rolling downhill path of progress that it will take to get there.

I am sure there are people and companies that spend more in a year that what I have done in 15+ years but it's not bad for a guy who started off with 3K and just kept rolling it all back in.  

I'm considering a commercial property (16 - 1Bed1Ba units) with a current annual rent roll of $170K fully occupied.

I have seen other local companies in Washington State post their fees ($795 + 4 points rolled into the loan + 12% for 6 months.

Isn't it much cheaper to roll the dice and risk being ripped off to save pennies?