Hey BP!! I'm new to this world and I'm excited to get started. My goal is to replace my current income of 10k per month, now I realize there is going to be many ways to get there however I wanted to get some feedback from you guys and gals. What is the quickest/best way to get to my goal of 10k net per month? I have 40k to start with. I'm attracted to multifamily deals as of now but want to remain open. I would like to have them with a property manger if possible because I'm also running a trucking company. Feel free to ask questions on my scenario.. Thanks in advance !!
unless you have 1 million to invest, netting 10k per month is going to take a l o n g time. 40k will not get you a house, will get you to update a house or two at around $300 cashflow per month.
there are many threads on here about getting to 15k per month, getting to 20k per month. lots of good feedback on there. i just gave you the quick explanation.
With 40k, I would look into private money to do a buy and flip... try to profit 50k and then do it again. That's close to your average of 10k a month.
@George P. Thanks I appreciate the feedback this is a long term goal, I figured I will need about a hundred doors to do this if I have debt on everything.. I was trying to find a thread similar I will look again. Thanks
@Sam Albert I was thinking of doing that in order to ratchet up to some more capital Thanks for your input!!
it will take fewer than 100. i'd say around 30-40 depending on the deals you can get.
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