First year and different strategy
Looking for insight! This is my first year for Rental Real Estate investing. I want to buy and hold and rent out.
Ok so my thoughts! I saved up 100k cash. I would like to buy a 80-90k single family home and use the extra 10-20k from the 100k to fix up and take care of the extra expenses. I know I could finance 4-5 homes with 100k but debt to be honest scares me. I would like to keep the mortgage out of the equation.
So I then would rent it out for 900-1,000 a month and save an extra 2k a month from my job. 34-36k annually before expenses and taxes.
Once I save up another 100k repeat the process.
Each house I buy will snowball the money and shorten the time to save for a new house.
Eventually I’m hoping I can buy a house every year or two and quit my job in 10-15 years.
Let me have your honest opinion. I want to learn and see everyone’s ideas. Thank you all in advance!
- 8166688159