How can I get to $4,000 a month in 5 years if you had $100,000?

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Hi all,

Looking for some advice from the BP community. My Fiancé and I have the goal to create $4,000 of NET cashflow per month in the next 5 years. Here’s our financial situation.

Income: Approx $120,000 between the 2 of us. 

Debt: NONE

Cash: $50,000 

Savings Rate:  $3,000 - $3,500 a month. Currently this is going towards our wedding, but will be reallocated to real estate in 6 months. 

Closed last month on our first out of state BRRRR. After refinance we should have a NET cashflow of $225 a month, and our cash back up to $100,000.

The whole BRRRR process is proving to be very slow. After the time it took to find the property, rehab, and refi we're looking at one property per year. Obviously at that rate our goal isn't going to happen.

I know we’re in a good position so I refuse to believe $4,000 isn’t realistic. People have done it with far less. I’m targeting Properties in Indianapolis that have purchase prices of $50,000 -$70,000 before rehab.  So I only have enough for one deal at a time, and I’m very hesitant to use hard money loans. I guess I’m to conservative. 

How do I speed this up?!  I’m staring down the barrel of having kids in the next 2 years. That will cut our savings rate significantly. I work 60+ hours a week, and she’s gone 6 days a week in order to save that much (She’s a flight attendant). We can’t work like this when kids come into the picture. 

That's why the BRRRR method is so appealing. If I can maintain my capital I can afford to take my foot off the accelerator in a couple years. But, I'm starting to feel like this method alone won't get us there.

I'm thinking of flipping to get the down payments and buying conventional. Or maybe using a combination of BRRRR and conventional. 1-2 BRRRR's per year with the capital we have + applying all savings and cashflow as down payments.

I feel like I'm crushing it with personal finance, but coming up short in REI. It's been a year since I started actively investing out of state, and I only have one property making $225 a month.

[Aaron K.]

$3000 per month going to a wedding in the next six months that is painful for me to think you'll spend nearly $20k on a wedding.  $4k per month is difficult in just 5 years because if your current math holds up that would be 20 properties and as I'm sure you're aware once you get past 4 mortgages you get into portfolio lending.  If you can save enough to do multiple BRRRRs at once that will help ideally they'd be staggered so you are always doing something.