Am I too old to get started? What is a realistic plan for me?

[Sarah Ali]

I'm one by one tackling my fears by reaching out to BP community!

Next fear: I'm late 40s and have no RE. Am I too old to get started? in 30 years when my mortgages will finally be paid off, I might be dead.  What would a realistic plan for someone my age be? Ideally I would like to live off income from REI, as I cannot currently work in a traditional sense (ie, desk job).  How can I get there and how long would it take?

I'm thinking to house hack or do a 2, 3 or 4 plex where I live in one of the units.  But where I currently live (SF Bay Area) is so expensive. Could I find a place here? Should I look in other, cheaper parts of CA? Or OOS?

[Bradley Buxton]

@Sarah Ali

You're never too old to get started, that is someone projecting their own fears on you. Ignore them. If you can house hack and buy a property every year for the next 5 years in areas with strong appreciation you'll be well on your way to building equity. You don't need to pay off the properties to cash in the from equity.  One option is sell 2 of the properties pay off the other 3 and now you have 3 cash flowing properties that will still continue to gain equity. Then keep buying a property until your in your late 50s and repeat.  I was living in SLO, CA and moved to the Reno Tahoe area because it was more affordable and still had the CA outdoor lifestyle. There is strong appreciation in this market with tech and manufacturing jobs. Late 40s is the new 30s and you can still build wealth with real estate.