Thinking about cracking the rental market and working in real estate.
I am thinking of becoming a real estate agent and also had some questions about rentals.
First I know I wont make money as an agent the first 6 months(and lose some as well). I have a spouse who makes good money(~150k per year). I also have plenty of savings to hold me over.
I will be moving to a college town so rentals are hot in the area but competitive as well. I have about 140k saved up in retirement accounts and so forth. Obviously this isn't all on the table but the money is there for safe investments. My thinking would be to borrow with 20% down with positive cash flow goal of $500 per month which is doable in the area. I'd like to build up to 7+ properties.
I plan on starting another career in about 3 years and at that point I would pay down on the properties more aggressively to pay them off and get more cashflow in my pocket.
I feel this is a better investment both short and long term vs getting my real estate license but this will allow me to work in the industry and save money on purchases.
I would manage the properties myself and even make repairs as well(I am very handy).
Seem feasible?
Would you skip the real estate agent step and invest all your time into the rentals?