Newbie from Kansas City, MO
Good afternoon everyone!
My name is Brian and I joined this forum per the advice of my investment partner.
BLUF: I want to retire from my government job and move back to KC in 3 years. My investment partner and I will be buying properties in the Kansas City area. We are currently looking at Multifamily homes to BRRRR and establish passive income. I'm a beginner to this industry but have been religiously learning the fundamentals through BP podcasts. I welcome all insight and advice!
Short term goal: buy 7 units within the first year.
Long term goal: Have enough passive income to retire in 3 years.
I am starting off with zero knowledge or experience in real estate or investing in general. However after being referred to this website a few months ago I have listened to many podcasts and read a fair amount of articles concerning topics such as BRRRR and other various methods and aspects of this industry. That being said I now have a very basic understanding of what I need, want, and the bare bones construct to be successful in real estate. However I recognize that there is still very much I want and need to learn. Therefore any advice and insight is always welcome, as you can never have too many tools in your box!
I work for the government as an analyst in DC however, I'm originally from Kansas City, Missouri and would like to be able to "retire", move back, and do real estate full time. Therefore I'm currently developing a 3 year plan that would allow me to maintain my lifestyle on passive income from Multi-family properties. However I don't want to stop there, after I move back I would like to BRRRR 2-4 single family properties per year, hold these homes for 5 years and then sell them 2-4 per year. This would allow me to have additional stream of income starting in 5 years, that I can reinvest into my portfolio and generating more wealth.
V/r,
Brian M. Wilson