Hello,
New to the site here - I am thinking of beginning to invest in rental properties for passive income, but want to make sure that I am not taking on too much risk. Please read my profile and let me know if I am in a financial position to do so
About Me:
Net Worth:
Cash Savings: $60,000
Stock Market (Mostly ETFs): $30,000
Retirement Accounts: $25,000
Annual Profile:
Post-Tax Annual Take Home Pay: ~$100,000 a year
Rent per Year: ~$20,000
Annual Expenses: ~$20,000
True Discretionary Cash per Year: +$50,000
RE Investment Plan:
I hope to contribute $30,000 a year to RE investments