Newsflash: Financial freedom off of RE, am i doing it right?

Recently got into real estate investment and wanted to run my idea to financial freedom with you and see what you think.I bought 2 houses for $60k each and renting them for $900/month. I’m cash flowing $300/month (per house) after mortgage payment (they are on 30 years loan), property management (%10), property taxes and insurance.The only thing I’m not counting is maintenance and vacancy. But once I buy 17 properties, I’ll be making $5k/month and at that point, I can put aside $1k/month for maintenance and vacancy and live comfortably with $4k/month. I’m 30 years old and I actually have the cash to buy 17 properties.In 30 years, all my properties will be paid off, and I’ll be making $10k/month at the age of 60. Is this a good approach? Am I missing something? Would love to hear thoughts from experienced RE investors.Thank you



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s