15 Year Plan for Retirement: Question

[Toby Jurging]

Hello, first time poster.  Currently working on first flip with a couple of partners.  

Along with investing for flips, I am looking to build portfolio with SF units.  Looking for 1 purchase each year for 15 years, then refinancing them inorder, cashing out and supplementing retirement.  

Question is, has anyone else used this method? If I use the BRRRR method up front to free up cash and re fi at 15years, then mortgage will be greater than revenue. Could finance for 30years, lower payment and then use cash flow to add to principle. Goal is 15 years, so looking for any input if people have done this prior.

Thank you for your assistance

[Joe Villeneuve]

Questions:

1 - Have you looked into how many martgages you will be able to have at the same time?  You will be limited by the number of mortgages you can get.  Usually somewhere between 5 and 10 max.

2 - Are these rental properties with positive cash flow?

3 - Where is the money coming from for each property/year?

4 - How much are each of these properties going to cost you out of pocket each year?

5 - What impact will this plan have on you financially during the years you will be building your portfolio?

6 - As you add properties, will this bring added income (positive cash flow), or a drain on your cash (negative cash flow)?

7 - Do you know where these properties you will be buying exist yet?

8 - Why/how did you arrive at the number of properties in total and per year?

9 - Have you established a total number for income needed at the end of the line?

10 - Have you established, as a spinoff of #9, what the minimum cash flow must be for each of these properties in order to achieve the number needed for #9?

This isn't a plan...yet.  What you have is a concept.  For it to be a plan, you must fill in the blanks with actual projected numbers, using actual properties, to make sure the plan is feasible now...and in the future.  To do this, you must be able to answer the 10 questions I posed above.