10 year Retirement Plan (HENRY)

[Tony Ferreira]

Hey there,

  As I stated in the Title, I'm a "HENRY" (High Earner Not Rich Yet). Although I spend like I am, I am now in need of creating wealth to retire. But, I really need to nail down a plan the is attainable and executable. With the market the way it is, high Interest Rates, and multi-family deals getting sold as soon as it comes on market, I'm lost! Where to start?  I need a mentor! I told my agent that I want 10 properties in 10 years.  He told me, "10 properties in 2 years if you are serious".  That sounds unattainable. I'm 52 and need that reirement plan. But I want to control where the money goes, not just into stocks and bonds. Real Estate sounds much more interesting. 

I'd really like to sit down with someone to go over a realistic plan.  A bit aggressive too if I could?  How do I land my first?  How long before my next?  How do I fund for future properties? I don't know what I don't know. But, I want in....asap! I feel like if I just jump in without guidance, I will lose both my butt and my interest. Where to start with guidance and then drilling down what my personal potential is?

[Henry Clark]

Adding REI won't help you. It will hurt you.

Get your personal spending and savings under control first before investing.    

Stop with all the dinners out, vacations, downsize car, downsize your house or rental, etc.  

Your first investment strategy should involve your own housing.