Investor · Ipswich, MA · Member since 2014 · 19 posts · 6 votes
Hello BP peeps!
I am wondering if anyone out there is a full-time out-of-state investor. What I mean is, the cash flow from the properties is how you support yourself. Plenty of folks invest while they are working. Working a full-time job is not much of an option for me right now, however. I would like to develop a model where I can purchase properties out of state and build up enough of a portfolio that it provides $5000-6000/month in income.
At present, I have been investing for 5+ years. Everything is out of state. I own 28 units. My strategy had been to just use the cash flow to pay down mortgages and set myself up for retirement. But circumstances being what they are I may pivot to using cash flow to live on today. I was just wondering if there is anyone who has built a successful system out of continually buying remotely and being able to pay the bills as a result...
Hey Bryan, I know its an older post. Just curious if you ended up replacing your w2 with full time out of state rentals? I'm in the same boat with the same question but currently at 14 doors. interesting to see how many people do this full time out of state!