I’m able to save up as much as possible over the next year and a half ish for a duplex, hopefully 40k, I work 7 days a week making sure I make at least 3k per month, I’ll owner occupy my first duplex while renting out the other side and then immediately saving for the next duplex and hope to repeat the 3.5-5 down a year after my first one, after that point saving will be easier and I can put the normal amount down on the 3rd and whatnot, but is this a viable way to get rich within 10 years if I can keep buying duplexes and sticking to my 3k a month until I have at least 2 of them, even if it’s not get rich, if I can just get it to replace my work income I’ll be great
My plan right now
byu/Professional-Fox1762 inrealestateinvesting
Posted by Professional-Fox1762
3 Comments
Man that’s a solid grind, respect for the 7 day hustle. The duplex strategy works but just make sure you’re factoring in all the hidden costs – maintenance, vacancies, property management headaches. A lot of people get burned thinking rental income is pure profit when reality hits different
Considering larger buildings. Up to four units is still residential meaning you buy with the same type of financing but the cash flow will be a lot better.
Tremendous respect for the work ethic.
As someone who scaled into making RE investing/development a full time job and makes 30-40% equity on each deal, i can tell you the following.
Knowledge is the most powerful thing.
Unless your job pays $300-400K+ a year, learning is more valuable than saving. Much more.
Buy a $350K building for $250K because of mispricing = much better than making $150K at work, paying tax and getting $100K cash.