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Updated about 4 years ago on .

User Stats

6
Posts
2
Votes
Merhawi Temnewo
  • Developer
  • Dallas, TX
2
Votes |
6
Posts

Look for Strategy/Suggestions to generate $10000 in Rental Income

Merhawi Temnewo
  • Developer
  • Dallas, TX
Posted

I have $60,000 with me. My goal is to earn $10,000 per month in positive cash flow(Passive Income by 2026) in 5 years time frame. I am a new bee and new to investing in real estate/rental properties. I am looking for strategy/suggestions from all the experts in BP in order to achieve my goal. Some ideas, I am exploring are: -Buy 3-4 properties for 35-40k in Midwest, which generate $500-$600 positive cash flow -Use 100k as down payment(25%) and use leverage to buy 1 or 2 properties in high-priced areas. -Invest in REIT or other funds Any suggestion/strategy is appreciated. All suggestions/strategies are welcome to achieve my goal of $10000 in passive income in 5-years Thanks, Merhawi