How to turn 100k in 100k annual income

Question

What’s up BP.

I have 3 Residential Rental properties for a total of 7 units and 4 garage units. Fully rented monthly income of just short of 5k that equates to about $2700 monthly cash flow after mortgages and property management fees, not including repairs/upgrades. They are all C class/ b- class properties.

As you all are aware this year has been an unprecedented one and also unprecedented for me as far as repairs go and trying to get decent contractors as well as dealing with a property manager who in some ways is solid but in other ways seems in over her head.

I love investing and the idea of being aggressive in pursuit of financial freedom. As of now all I know is multi-unit residential investing strategy that includes finding below market value deals and trying to turn a $700-$1000 profit per month, per property.

I’d be lying if I said I wasn’t growing weary of this particular investing style and process. Which leads me to the idea of liquidating in hopes of investing in a bigger and more consistent style of passive income. Which leads me to the questions of how to turn 100k in a six figure or close to six figure income? Any thoughts?

Dan M. · Answer

Would air bnb offer a 100% return? The lottery?

Seems like your doing good with the cash flow, capital improvements come and go there is no way out of that but in the long run it will pay off. Your still building equity in the houses every month the mortgage gets paid. You can BRRRR and play with the numbers enough to scale your business and get to that 100k mark it will take alot of work but it is certainly possible if you do it right and find a good lender or two. You can probably refinance some of your equity to get started I think the main thing is to stick with it and don't get discouraged when repairs come your way. You can self manage to save money and have more control. If its too daunting or seems like work, which in alot of cases it is, then maybe real estate isn't the answer for you. But I tell you it beats a 9-5 anyday if you ask my two cents.

If you want close to 10k in income per month first you need to get 10k of rents coming in , and then have it all paid off.

Or have 50 units that cash flow on average 200 a month which is where BRRRR comes in.

You could maybe invest 100k into a business and make 100k per year but I guarantee you will put in many more hours doing so.

How to turn 100k in 100k annual income

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