Investor · Jacksonville, FL · Member since 2008 · 61 posts · 12 votes
Hello Everyone
I am looking for ways to generate $15 to $20 k per month and am interested in learning from others who are consistently doing this. Could you please share what type of marketing you do, how many dollars every month, what type of lists you are targeting and what type of deals you do (flip, wholesale, retail, Multi family etc)
My husband and myself have done some Flips, did 1 or 2 wholesale, bought multi family properties for cashflow etc . We are not total newbies to this. But trying to figure out any strategy where we could increase the income to a good strong amount while we are building our portfolio of Multi family properties.
Would really appreciate any information from you all and would love to learn to get the same consistency and deal flow going.
The short answer is yes...it can be done. The longer answer on how comes from the market you choose...or the system you choose. You either start with your market and choose the system that works best in it, or start with the system of how and what type of investment (hold/flip, mlti-/SF, etc...), and let the system choose the market.
There are many different investors here, all of them are adamant about the way they did it being the best (sometimes the only) way to do it...and all would be correct...but what is correct for one isn't necessarily correct for all.
It would be difficult for any of us to really give you too much more than that since we have no idea of where you are located. Based on the experience you've revealed, what I would tell you is to start by figuring out which of the different types of investment vehicles you found you were best at, or your market was best at, and develop a system around that vehicle.
Thank you for the reply and information. I am currently working in the Central /North East Florida Market.. Volusia and Duval counties. Could you please give me some pointers on what would be best way to figure out the best system for the market?
Also, how would I go from choosing a system and let that pick a market . Would appreciate some input on that also.
Past 2 to 3 years we have been buying multi family properties and that is definitely our long term game. We have not done any flips/rehabs/wholesale in the past 2 to 3 years and so since we are now thinking about generating 15k to 20 k $ we are revisiting this question and trying to find some realistic ideas/way to bring that about. The earlier fix/flip/wholesale deals were done few years ago and the market has changed now.
We are open to ideas and want to hear whats working for fellow investors and want to see if that's something that would work for us here in our target market.
Best way to generate cash flow is to select what the market requires, where the market dictates a continuous need based on inventory and economic conditions, where demand is consistent and to do your best to grow that market. Going at any business with a dollar requirement to be met isn't a good approach as there are business cycles of start up, growth, maturity and decline that effect the income generated.
Some businesses, not so in RE really, may generate x dollars quickly and level off and remain constant, an example might be taxi service where demand can be met rather quickly, business levels will remain rather constant in a community du to population and where regulatory constraints may limit the number of vehicles in service, rates charged and limitations to competition.
RE isn't going to function as an assembly line producing a product at a certain output where the market is consistent.
May be I'm not getting your question, but looking for some niche that produces a reliable income at 15 or 20K monthly isn't realistic, you may average such amounts, but there are to many other factors playing on RE markets to act like some production type market. The only thing close would be rental income from long term leases. :)
Appreciate your post. We are in the path for long term Multi family income and are strongly working on that.
Even if I don't make 15 to 20 k every month it would be nice to have a certain income goal and achieve it even if I do 4 deals in 6 months that would net the same amount a year and would average out.
I will start networking with local Real estate investors also to get a feel for the market.