Updated about 10 years ago on . Most recent reply
New Member from Tucson, Arizona
I am new to the REI world. I have been studying as much as I can for the past two months and just started listening to the podcasts on bigger pockets. I love all the knowledge on here that is freely shared if you are willing to look for it.
I am interested in flipping and buy and holds. My end goal is 5-10 buy and holds that I own outright that will be producing a cashflow of $5,000. I also want to own a property that I can turn into a restaurant to start and then another company that I can turn into a boutique hotel. I am a Food and Beverage manager now, and I love the hotel and restaurant business. I make enough that by January I should be able to put 10-20% on my first flip.
My rough draft of my timeline is to do 3 flips next year. I figure the first one will take longer, but with the money from that as well as my monthly savings, I can then do two more to finish out the year. From there I will do a buy and hold and continue flipping, and then continue to repeat until I have four buy and holds. Once I get those, I will continue to flip until I can pay them off fully.
I am interested in learning as much as I can and will do any sort of monotonous or dirty work that I have to in order to get involved in this business.