$500k in cash, goal of $120k/yr passive income by 2028
Hi - I am new to BP, but loving all that I am learning here. I live in the Atlanta, GA area and am relatively new to REI. I set a goal for myself a couple of months ago to reach $10k/month ($120k/year) in passive income in 10 years (so, by start of 2018). I have around $500k in cash that I plan to invest into real estate to accomplish this goal. I am keeping my day job, and would plan to not take any income out of this investment until it is possible to do so and meet goal. Bought my first rental, a condo for 80k, with cash last month, and have done a couple of private, short term loans for friends that flip houses. My thought was to pursue buy and hold rentals, possibly purchase notes, and possibly tax liens. (currently trying to read/learn more about notes/liens). Playing with the numbers, my goal seems like a nearly impossible stretch. Figured I would ask any advice, recommendations, or thoughts about viability, and best paths to get there. Thanks.