Who knows....may be someone on this very board that is working toward or has already achieved what we are trying to do so let's see where you're trying to go over the next couple years. Hell we may be able to achieve a degree of accountability or even a mastermind group from contact made here. There is real power in writing a goal down.
My wife and I are working to build $20k/month in passive income through rental property and our first small business (a gym in SA) by Dec 31, 2020.
We completed our first BRRR strategy rental property October of last year, it's currently cash flowing.
We want to grow the gym to 150 members so that we can build ourselves out of that business. We're currently about 115 members. In order to do this we need a new space and are working on either an owner carry existing facility purchase or raw land and development of a commercial space. Either one will have additional commercial rental space that will help us hit that cash flow goal.
We are remodeling our current home to sell. The proceeds from that will pay off all our unsecured debt and leave us with some cash, in addition to the savings of the mortgage and other home expenses. We are going to live in an RV until we can get a live in flip or duplex that we can BRRR again.
After that one the plan is to continue house hacking until we hit that goal or become sophisticated enough to syndicate an apartment or mobile home park deal. In the mean time, we are going to use our self directed IRA to passively invest in an apartment syndication with a group here in San Antonio.
If we achieve our goal, #focus2020 or #alohaChristmas are our affectionate tags for this goal, we are taking a month long vacation in Hawaii over the Christmas holidays.
My wife and I are working to build $20k/month in passive income through rental property and our first small business (a gym in SA) by Dec 31, 2020.
We completed our first BRRR strategy rental property October of last year, it's currently cash flowing.
We want to grow the gym to 150 members so that we can build ourselves out of that business. We're currently about 115 members. In order to do this we need a new space and are working on either an owner carry existing facility purchase or raw land and development of a commercial space. Either one will have additional commercial rental space that will help us hit that cash flow goal.
We are remodeling our current home to sell. The proceeds from that will pay off all our unsecured debt and leave us with some cash, in addition to the savings of the mortgage and other home expenses. We are going to live in an RV until we can get a live in flip or duplex that we can BRRR again.
After that one the plan is to continue house hacking until we hit that goal or become sophisticated enough to syndicate an apartment or mobile home park deal. In the mean time, we are going to use our self directed IRA to passively invest in an apartment syndication with a group here in San Antonio.
If we achieve our goal, #focus2020 or #alohaChristmas are our affectionate tags for this goal, we are taking a month long vacation in Hawaii over the Christmas holidays.