Is this a feasible long term growth strategy?
My wife and I are finishing up paying off our credit card debt and will soon be able to be able to set aside $4-5k a month for investing. After researching some options I believe I want to follow the advice of Grant Cardone in the aspect of strategy. I want to put aside money until I have $100k. Use that as a down payment on a $400,000 property. Then continue to set aside the income and and the cash flow from the obtained property to fund the next $400k property. My plan is to buy in larger cities as I live in a rural area and have a property management company run the property. I'm looking strictly to build long term wealth as we don't need the cash flow. I would love any and all advice/criticism. I also plan to divert some of the cash flow to reits.