Updated over 7 years ago on . Most recent reply
Looking for advice on rental properties.
I’m looking to get into rental properties. Eventually appartments and bigger projects but I’m focusing on multi-family units right now. I have a great career already that pays me a great amount of money but like most people on here I’m looking to get into passive/residual income streams.
I feel like multi unit properties have always interested me and seem like a good place to start. I have access to a good amount of cash and I’m trying to figure out what my strategy should be. I live in Southern California so naturally I’m interested in out of state properties due to the buy in costs being lower. What recommendations do any experienced investors have that I can build off of? I’m looking for advise on a long term strategy to eventually be my sole income but it doesn’t have to be right now.
At this point I don’t need a lot of extra income as I make a fair amount now, but I would like to build something that will allow me to do what I want, when I want in the not too distant future. If you were in my scenario....what would you do?