Reading and Reading and first goal? feasible?
Hey Everyone. I have bought 3 books from this site, on rentals, managing them, and the one on no or low money down. I am more interested in long term holds and rental income at this point vs flipping etc. I also work full time in a job i like and won't be leaving so i am looking at this as a part time gig. With that being said, my goals i think are also a lot smaller than most here. I would like to run this by you all and get your thoughts.
My first goal is literally thinking one smaller 1 family house, 3br 2br. most homes that rent for 1500 around here are that size, and may cost 180-200? but thats almost turnkey. there are others for alot less that need work
my passive income goal is to make maybe 2-400 extra a month which i would just save for needed work? and then roll to a second house and third etc. at 48 i have 20 years or so left to work, but would like to help an earlier retirement if possible.
if my main goal now is just to finally do this ( i need to read all these books and put a plan together and find a rental agent who understands this goal) and those are my financial return goals, is this doable? i would like to partner with someone and am hoping to meet someone local to work with but if i dont i am ok doing it with an agent and on my own.
anyway, just getting thoughts from you all on the single family home, small end, smaller return type situation to get going? and once i read how to possibly do this with little down, then down the road i can do them more traditionally?
thanks all