Atlanta, GA · Member since 2017 · 1 post · 0 votes
I am graduating next fall with an engineering degree and I plan on working as soon as I graduate. I have been able to save ~$24,000 from my work from the past 6 summers. Some of it is already invested, but I would like to get on track in real estate to start generating monthly income on the side in the range of $4000-$5000. I have been told to get into commercial real estate, so what do I need to do to get a property or multiple properties to get this range of income?
Simple; start investing and keep adding over many years. If you average $150 per month of cash flow per door, you'll need ~30 doors. BRRRR strategy or value-add & 1031-ing are the ways to move quickest, but it's still going to take years.
It don't take years to get that done. It's all on you and your creativity. If you got good credit it can be done in one or 2 deals. I'm looking at 16 townhouses now that would net me 4500 a month. Stay encouraged my friend... set your goal and make it happen.