Beginner. How to come up with real estate investment strategy
Hello All,
I have a single family home that my family and I are currently living in. We are considering selling the home in 2018 and investing the equity money (approx. 350k) into out of state single family home rentals. In order to do this, my family would have to rent a house to live in ($4,000/month). Our goal is to have assets for long term benefits as well as get some serious cash flow so that we can eventually buy our dream house in the Bay Area. What is the best strategy for this type of REI? We are thinking about using our line of credit to purchase a couple of residences before selling our house. Would the cash flow be worth it? Seems we would need 10+ residences to get a decent cash flow. Can we achieve our goal with single family? Or would multi family be more efficient? We would like some advice from successful REIs on what would be a killer strategy to make the most of our money for the short term and long term. Thanks in advance!