Newb investor in Kansas City wanting to build cash flow.

[Sam Mayberger]

I've been lurking on the site for some time and would like to get some direction for my axe sharpening. Currently working 45 to 70 hours a week in health insurance sales and am looking to build a passive cash flow of 10k a month to eventually replace my current career and another 10k a month to replace my wife's salary.

A few opportunities that I can work with:

1. I live in Kansas City

2. Will have between 50-80k to invest each year starting 12/21

3. Have a strong desire to become financially independent

4. I have grit

5. Have 60k in primary residence equity

6. Have proven sales experience

With that said, I have a some questions for the BP community:

1. What is the most efficient way to create my desired cash flow with my limited weekly time restraints?

2. How scared of the impending market correction should I be?

3. Would it be more advantageous to wait to invest in order to stockpile cash to purchase multiple properties when prices come down or should I get my feet wet and get started with less than optimal numbers to get experience sooner?

4 What is my very first course of action outside of podcasts and books?

I appreciate any responses and am grateful for being able to post here. If anyone is in the KCMO area and would like to have coffee or meet up give me a shout!

Sam

[Sam Mayberger]

Originally posted by @Joseph Schweizer:

Hi @Sam Mayberger!

I work full time outside of real estate and I was looking at a way to start investing while minimizing my risk and time. I found turnkey investing and made my first investment this past October. The property is actually in Kansas City. The post below has more information about my investment. This might be a good strategy for you since you have time constraints. 

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

I would be happy to discuss more!

Best Wishes!

Hey Joseph! 

I really appreciate the reply. I read your post back when you posted it originally. Congrats on the deal!! I honestly hadn't read up on the turnkey strategy up until now so I may have to bug you about the process and how it turns out after the dust settles. Looking at it now, it may be a great way to get my feet wet and learn as I go. 

Thanks