Introduction - Commercial/Residential real estate
Hey guys (and gals), hope everyone's Monday has been rockin!
I'm a recent college grad, now working full time. I've saved up some money and am very interested in real estate investment.
Here's my goal: 50k in profits/annually by the time I'm 25 through buy and hold strategy (open to flipping as well).
Some specifications about me:
- Currently 22 (Turning 23 this July) - Leaves me about 2.15 years to accomplish my goal.
- I have about 30k saved.
- Want to avoid loans. Would rather invest in a fixer upper and rent it out.
- I have multiple construction/contractor connections.
- From Metro Detroit area.
I currently work full time, but have absolutely no problem getting out there, working nights and weekends, etc. Do you think this is realistic goal?
My dream is to travel the world and not worry about working 50 hours a week. If there's anyone in the Detroit area, I'd love to sit down and talk, I'm trying to develop a month by month plan to see how I can accomplish this.
Looking forward to learning from the community and hopefully giving back anything I can, thank you!