Short Term REI Wealth Plans for Seniors
OK, I'm 60 years old and have started building my investment portfolio late in life. I have a lot of other older friends who see real estate as the means to fill in the gaps/shortages as the plan or live their retirement years out. As an older guy, I don't have the same timeline as you young pups but I'm plowing forward, nonetheless. Cash flow is king and that is my primary focus, however, I'd love to build a legacy (and equity) for my children and grandchildren as well. In two years I have purchased 2 SFRs, 2 duplexes and will soon close a 22-unit multifamily. I'm in Memphis, Atlanta and Indianapolis and have learn to manage from afar. My goal is 1,000 doors/units in 6 years. It may be ambitious but I am very determined to double the number of doors/units each year (looking to add 100 units in the next 12 months). I don't believe in the whole "Get Rick Quick" scenario but do believe my goal is obtainable. Would love your feedback, advice and thoughts on what strategies might help me reach this goal. Or, if you think I am ridiculous, I'm also open to your comments, with explanation. Thanks!