We each have our own reason and goals

Each of us invests in real estate for so many different reasons. And these reasons are varied depending on many factors such as income, age, and goals. The reasons I have now are different then what they were five years ago let alone when I first entered the business world. And with this, it effects my purchasing decision of real estate. I hope this is not an excuse for looking for an easy at out , but all but one of my last 8 purchases have been through the MLS. Funny thing is 2 of the 8 were REO properties, with the otter being estate homes. I will learn more here about buying estate homes and systems used in that process. I have had apartments all my life and now buying homes and rejuvenating them is pretty cool.

But I am almost 60 and I have to build up my retirement income. I have no IRA or stocks. Never did well at saving. Never did well in the stock market. But I buy typically one owner homes and spend $25,000 or so on each home. I get a 20/80 loan an 4% 25 years. The 8 properties I have bring in about 3000 a month which is nice but what really opens my eyes is the $3,000 in principle pay down and growing that happens every month. Love that aspect because I look at this as my pension plan. And I am putting a nice chunk of change away.

My goal is to get to $10,000 a month in principle pay down within 2 years and $25,000 within 5 years.