Aspiring Denver Investor
Hello,
I am looking to get into the real estate market. I currently save about $2500-$3000/month and have accumulated over $40,000 in savings. I have been toying with a few different ideas as follows:
-Buy a fixer upper house in the Englewood area (south of Denver) rehab and rent
-Buy a fixed up house and put enough down to cash flow and rent
-Buy a nice house for myself and live there for >2years
-Buy a multifamily
-Buy an awesome loft for myself downtown and live it up
I feel as though I can save my way to cash flow on just about anything right now. I really don't have time to fix up properties during the week except for weekends. Even then I don't know what I am doing so I am leaning towards buying a decent property that needs very little work (thoes aint cheap). My main goal is cash flow. I would like to clear after all expenses $1000 a month with whatever I buy (save my way to cash flow with huge down payment?). The cash flow would allow me to save at a faster rate and acquire another property... and over, and over, and over again hopefully. If you were in a similar position on your late 20's what route would you take? Keep in mind I am willing to save over $100,000 to put down if needed to secure decent cash flow.