Posted 3 months ago

How I'm Going to Stage My Comeback

In my last post I talked about how I am going to start over.  My ultimate goal is to generate $5,000 a month in passive income.  Unlike Brandon Turner I intend to do that with a real estate heavy but diversified portfolio.  I will have my IRA's in a blended income producing/growth portfolio.  I will invest in real estate funds and individual notes as well as building a rental property portfolio using the BRRRR strategy.  I will go into to my diversification mix in more details in future posts but this time I wanted to talk about the side hustles that I am implementing to fund those goals.

I have my real estate license so it makes sense to try and generate some revenue off of the expense involved in keeping my license.  To that end I have 3 main avenues that I am going to explore:

1.  Creating a subscription model that will allow others to leverage the research that I do to create a win/win for both parties.

2.  Act as a buyer's agent for investors both traditional fix and flip and buy and hold investors and the live in flip and house hacking investor.

3.  Wholesale.

These are true side hustles because they involve work on my part, the money doesn't come in passively but I am willing to put in the work in order to fund my first BRRRR property. I know many of you have read that I can buy a house without any of my own money but in the 12 years I've been working in real estate I have not found that to be the case.  I would like to have about $20,000 in the bank when I purchase my first property.

More later.  

Thanks for reading.

Tamara


Comments (2)

  1. Great post Tamara.  I'm certain all of the prior mishaps are for your greater good and you'll come out exceeding your goal.  

    What do you mean about "I know many of you have read that I can buy a house without any of my own money but in the 12 years I've been working in real estate I have not found that to be the case."

    Is it just not reasonable? Or is it something you personally would not do?


    1. @Michelle Reid

      I have found that trying to buy a house without any of my own money is unreasonable, those opportunities may exist but they are so few and far between it falls into unicorn territory.  Even if you have a partner that will put up the money you will always have expenses - even if it is just gas in your car to get to the property.  I think what the people who say this mean is no money down, and that is doable but I think it misleads a lot of the new investors on the site.  No money down does not mean no cash out of pocket.

      Thank you for reading.