Lets say (hypothetically) you had 200k in cash to start off, and you are a newbie investor. Lets say your goal is to fully live off the passive income (i.e. not have to do the day job). Lets also say you aren't that interested in being a landlord. What strategy would you advise to get there as quickly as possible?
a) would you use that cash to buy a series of 2,3,4 multi unit properties
b) would you buy one bigger apartment building
c) would you go out of state? Bear in mind i have been looking in NY state at places like Albany. But folks on BP seem to get much better numbers in other states midwest and south.
d) take a different approach altogether
Would love to hear how you'd approach it?
Thanks in advance!
As a newbie myself, I am choosing b). I would also add c) but I am in TX already :-)
You may want to check out these other threads:
So no matter how much you have, there is a thread for you!
Thanks Nick B. Thanks Dawn - that's a useful collection of posts. I will delve into those.
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