Updated over 12 years ago on . Most recent reply
Full-Time Investing - How-to
Hi. I am in the process of closing on my second rental property. I will then have a duplex and a four-plex. These bring in more than enough each month to cover utilities, taxes, maintenance, etc. I often here of investors going full-time even when they are relatively new. My question is, how to get to the point, relatively quickly, to create enough cashflow to live on. I'm not looking for a get rich quick scheme, but when looking at my finances, it would take me and my investing partner 20 properties (paid off) to earn enough cashflow to live comfortably. That being said, most banks have a limit on loans they will give (and even with that, we need to have 80% paid down in order to blanket the other property with it). I guess we could go the route of private money, but I'm not sure how those deals would look. I hope I explained myself clearly. Thanks in advance.