First deal planning
I've recently sold my contracting business for 90k + 20 percent interest.
We own a house with 50k equity plus 20k cash. Im ready to get started on real estate invested. I wanna do long term rentals but I'm open to all options. Im aiming for cash flow in the first few deals. I've found a few houses for 85k that will cash flow after expenses and capx and vacancy 200 to 300 a month with conservative rent comps. Should I do these deals or wait for a homerun?
Most Popular Reply
Congrats on successful exit. Unlike paper assets like stocks, bonds mutual funds, real estate rental investing can be slow to grow. Most of the investors, including me, keep that in mind and buy reantal houses fpr appreciation mainly but also make sure rent covers current and future needs of that property. My point is, real estate works better as passive income.
Below are my recommended books:
Strategy:
Rich man in Babylon
Robert Kiosaki
- Rich Dad Poor Dad
- Cashflow Quadrant
- Guide to investing
- Real book of Real Estate
Real Estate Journey:
Ken McKelroy
- ABCs of Real Estate Investing
- Advanced book of Real Estate Investing
- ABC of Property management