Starting Out - I want to replace my income and do REI full time

Starting Out
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Starting Out - I want to replace my income and do REI full time

Travis Kurtz
Jefferson, GA · Member since 2017 · 3 posts · 2 votes

I'm 35 years old & make $65K a year. My first goal - buy my first investment property. My next big goal - make $65K in passive income to replace my salary. I have student load debt from undergrad and graduate school. I have about $80K in equity in my home.

What is a realistic time frame to replace my income?

Is it possible?

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  • Trevor S Foster
    Gaithersburg, MD · Member since 2017 · 127 posts · 23 votes
    9y

    What kind of investment property?

    How do you plan to make it to 65k passively to replace your salary?

    What are your plans for the 80k in home equity?

    What do you think is a realistic time frame?

    Don't you think it's possible?

    You can make a legit plan and find out if your goals are attainable by answering those questions, in detail. Listen to the podcast and read some of the guides to educate yourself... Figure out what your lane will be

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  • Travis Kurtz
    OP
    Jefferson, GA · Member since 2017 · 3 posts · 2 votes
    9y

    Thanks Trevor,

    The kind of investments I'm looking to do include, single family and small multi family homes

    I plan to use the BRRRR method.

    I plan to use some of the $80k to purchase (BRRRR). So I would hope to get my money back out.

    I would like to replace my $65K in 2 years so 10 units a year.

    I just found this website yesterday and haven't stop listening to the podcasts and going through the free course.

    Thanks for the feedback.

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