Updated 7 months ago on . Most recent reply
New investor, first deal complete.
Hello all, I am an old guy but a new investor. After paying off my house and changing jobs, I rolled over my 401(k) at the old W2 into a self-directed IRA. I closed on a 2/1 (per side) duplex in August. We got it rent-ready and then, I turned it over to a management pro last week. I still have a W2 (Frequent travel...) so self-management isn't my plan for now.
I also have a couple of pieces of property in North Georgia that I would like to build out with a small single-family home or even a manufactured home. These properties I own free and clear (outside my SDIRA), so I need to find the right deal to turn them into income earners.
I have begun looking for my next deal. I have about 10 years left before retirement, and I would like to build a reasonable 8 to 10 doors between now and then. I really only need a few more duplexes...
I look forward to networking and learning from you all.
Most Popular Reply
Congrats Jim! 8 to 10 Doors you can do that in 2 deals if you find 2 4plexes! Can get to your number in half the number of transactions. I love the concept of the stack method. 2 units to start and prove you can do it. 4 units next to start scaling and keep pushing from there!