Total Newbies Looking for Passive Income to Enjoy Time Together

Total Newbies Looking for Passive Income to Enjoy Time Together

New to Real Estate · MN · Member since 2021 · 4 posts · 2 votes

Hello, 

My family and I are from Minnesota. We are looking to start up a rental real estate property business for ourselves. The only experience we have with real estate at the moment is the collective knowledge from doing research and reading books. What brought us here to BiggerPockets are a couple of books that are from BiggerPockets itself. We are interested in starting with single family homes for the time being and working towards multifamily. We are wanting to use the BRRRR method. Currently we have our personal home that we want to convert to a rental, but afterwards will continue to look into more properties. Our goal is to have a passive income coming in so that we can essentially quit our full time jobs and spend more time together with each other.

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  • JD MartinBusiness Member
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    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    5y

    Welcome to BP!

    What kind of cash do you have saved up and what kind of time line are you looking at? You sound like you're young and in love :)  . You have a noble goal, now the key is matching your expectations to your goals. 

    Skyline Properties
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  • New to Real Estate · MN · Member since 2021 · 4 posts · 2 votes
    5y

    Haha, after reading it again, it does sound like I'm in love. I'll have to ask my partner what the numbers are to share that. We are hoping to get our current home as a rental within a year. We still need to put in place how many homes we want to try to pursue a year etc. 

  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    5y

    @Ashley Lochli

    Welcome to the BP community! Great that you joined the site!

    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

    Good luck on everything!

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