I am interested in some feedback on the best area to focus my initial real estate investing activity. My short term goal is to establish a $7,500/month income ASAP from my real estate investing in order to quit my job and be a full time investor.
The areas I have identified are:
Based on my short term goal, where should I focus?
If you goal is to establish monthly income the rentals are what you are going to want to focus on. However if I may suggest;
Change your focus from “quitting your job” to “finding great properties to invest in” Over the last 20yrs I’ve seen 1,000’s of you guys fail because the focus is on getting rich quick. I’m not saying thats where you are of course. Just giving you some friendly advice just in case.
Good luck in your investing!
Well actually…
You can Wholesale a Foreclosure.
You can Lease/Option a Subject To.
You most likely don’t have the long term funds to Buy and Hold. And land-lording is a bitch!
The big money is in Wholesaling Foreclosures with Short Sales. While trying to close on one, you can be looking for your next. It takes a while to get a respond from the bank.