Admittedly, as of the posting of this article, Real Estate Investing is not nearly as big a part of my income (or this site’s content) as I would like it to be. Currently, I own 2 rental properties that give me positive cash flow each month, but I want to grow that number exponentially over the next 2 years. I’m targeting 10 units by the end of 2018, and 30 units by 2020. Lofty, but attainable goals, in my opinion.
Anyway, if you haven’t checked out BiggerPockets.com, you are missing a wealth of information on Real Estate Investing. They have a tremendous community of investors willing to share knowledge, a blog/newsletter that is full of helpful information, and a podcast that is both entertaining and packed with actionable content. I highly recommend it, and you can find links on the Resources page.
This article is a brief road map of the possibilities that arise from Real Estate Investing, specifically multi-family investing. It highlights a few investors who were able to quit their jobs within months or just a few years of buying their first properties. Talk about job-killing cash flow!
Here’s an excerpt:
The Pattern From First Deal to Quitting the Rat Race
Here’s the pattern I observe with successful real estate investors:
- The first deal is the smallest deal, takes the longest and is the hardest to do.
- The second and third deal follow in rapid (almost automatic) succession and are larger than the previous deals.
- Investors are able to replace their income with 3-4 deals — and within 3-5 years.
To me, the message is clear:
Focus on your FIRST deal.
Check out the entire article here: