Posted by John Corey on May 23, 2006 at 16:09:55:
If we believe statistics are important then RE investing will rarely produce current cash flow when getting started. It is much more likely that a new job will solve that issue.
Understand that you are talking about starting a business as a RE investor with little prior experience and you want to replace what was your income. Most businesses struggle when they start and RE is not that different.
A few folks will have done well right from the start. Call it luck or call it cross over from a prior profession.
Expect that lenders will be happier if you have a W2 income in the same field that you were in before. Neither right or wrong. Just how lender’s score people.