Analyze My Investment Strategy
Hello all, I am hoping that you can help me with my overall strategy. I am new to investing, and have yet to purchase a property.
Goal: $30,000-$40,000 cash flow per year in 10 years. This will allow me to retire from my regular occupation at that time.
Plan: Invest in small multi-family properties, 2-4 units. I plan to try to keep my cash outlay as low as possible by using a HELOC on our home as the down payment, at least initially, as most of our savings is tied up in retirement accounts.
I am looking for properties in my area, and can get about $100/door/month cash flow.
Do you think that this is a reasonable strategy? If not, any suggestions?