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Updated about 2 years ago,
Here's my situation, what would you do?
Hello Bigger Pockets Community!
I’m new here and new to Real Estate in general, however I am very enthusiastic and determined to learn and invest wisely. Here’s a bit about myself and my goals:
Me:
- - Early 30’s, single, no kids
- - Compensation = ~$200k/yr (most of this is still W2)
- - I’ve set aside between $75 - $100k in cash to invest in RE
- - Current rent = $2100/mo.
- - Credit score is high 700’s
- - I do not own any property
- - Split time between Phoenix, San Diego, and Denver
Goals:
- - I’m a business owner, and still have a full-time job for a bit longer, so those will take my time priority for the foreseeable future
- - My time is critical to my business, so I’m hoping to avoid the more time-consuming options
- - I'm looking for the best way to achieve high ROI and monthly passive income
- - I have friends who are more versed in RE than I am, who I can partner with if needed
I am still in the education phase; however, I am trying to decide what’s the best strategy for me. I am not afraid of putting in the work, but my business will take priority for now. My initial thoughts were single family homes, but I am realizing there may be better ways to scale and reach my goals.
What strategy would you implement if you were in my situation?
Thank you all for the help! This community has been so helpful.