Flipping Real Estate
I'm incorporated with two other parties and (we) the LLC have 2 houses, a condo and a duplex...so far. I'm happy with this initial investment and I'm using this LLC as my retirement.
I'm 31 and so fucking done with my job it's not even funny. I can't stand the thought of working for someone else much longer. I'm currently in school for a Licensed Real Estate Salesperson (LRES) cert. I figure I'll get my license as a change of pace for the now and it can only prove to help me in my future endeavors.
I'm fairly new to Real Estate but so far, am VERY happy with my return on the landlord business. It sure beats the shit out of my 401k and stocks. However, like I said, I need to work for myself.
I'm going to start flipping property within the next year. The way I see it, I can full time as a RE Agent and flip part time for a year or two until I'm comfortable enough to flip full time.
Does anyone have experience in flipping properties? I'm thinking I should keep the landlord LLC separate and create another LLC for the flipping. I'd like to get some ideas from you to throw around in my head.
Also, if you have any other real estate investing knowledge, please do share. My goal, and it is obtainable, is to be a millionaire in 10-14 years with a passive income of 300-500k yearly and grow that by an easy 20% thereafter with not so much work. Sounds good, huh? I’ll let you know how it goes.
Tell me your Real Estate Investing stories, please!!!
oh yeah, I guess I should add that I'm doing my REI in Texas.
Last edited by Force 10; 03-24-2004 at 06:07 PM..
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