If you weren't a pilot, what would you do?

[dash8driver]

Otherwise, if you have decent credit above 650, you can get a 5% down loan and actually get money back at closing. Talk to a real estate freind or mortgage broker. You will be surprised how easy it is to get a house and rent it, all the while clearing 150+/mo.

you can even have a lower score than that and get a loan. you can get an 80/20 loan, which means you put no money down.. you only pay for closing costs and a lot of times you can get that rolled into your loan too.

get a good RE agent that can not only find you some houses, but can also find you good tenants while you're still closing on the house. find a good mortgage broker, especially if your score is lower. its another person you have to pay in the loan, but its well worth not having to go fishing around for the best loan and also to have someone that's going to finagle stuff for you.

 

[TDTURBO]

Find a house for 60-90k ready to go in a lower middle class area in the Midwest, put 20% down to avoid PMI (mortgage insurance), escroll your taxes and insurance and add it up. Whatever that equals, add 150/mo to it and that's your rent. Some houses I own I clear 350/mo, but those are rare. Remember, you can right off all taxes and costs(interest, points, ect...), so form an LLC. Cost should be around $250.

The more you can put down the better, try and make principle payments above and beyond what's required. In 15 years you have equity you can borrow against and still get rental income. You do this for a dozen or so homes and you are set for life. Start young, don't get married since you only have a 30% chance of preventing half your assets disappear.

Each kid you have that you want to raise right will cost you 100K each. Stay single, get a terminal degree, don't have kids until your late 30's, if at all, invest in RE and you will have a much better chance of living nice when you retire at 45.

If anyone has any better ideas I would like to hear it.