What to do with 200k??
Hello All! Long time lurker here and avid podcast listener. I have been fortunate enough to have saved 200k and am wanting to put this into real estate. My goal is to get to 10k a month in net income through rentals. I want to focus on multifamilies for scalability, but don't really know the best way to start. From what I have been told by a mortgage broker is that if I buy a 4plex, I will need to put 25% down, so I could buy around that 800-850k range. Should I consider a 4plex cashflowing $1500 or so a month and put all my money into this one 4plex and wait until i save enough to buy another complex or are there more creative financing routes to expedite the pathway to my goal of 10k a month?? I will continue to work a full time job and have access to another $100k I will keep in the stock market, so there is access to additional capital if absolutely necessary.
Any inputs/advice would be greatly appreciated!!