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Updated over 1 year ago,

User Stats

5
Posts
2
Votes
William Duenskie
  • Investor
  • Tampa, FL
2
Votes |
5
Posts

Does my logic and situation make sense for my strategy?

William Duenskie
  • Investor
  • Tampa, FL
Posted

Hi All,

I’m looking for guidance on the investment approach I want to take. I’d love for you to poke holes in my logic or tell me if you feel I’m making a mistake (any feedback is welcomed).A bit of quick background on myself and the situation I’m in, which I feel will provide context behind what I’m looking to achieve.

Current situation

* I’m 43, married, and have two great kids (4 and 6), my wife works, but my W2 earnings are counted upon

* I’m not looking to replace my W2 job, but instead strategically invest money from my high-yield savings (4.25%)

* I have two healthy 401Ks, a good amount in the stock market, but I don’t want to continue pouring my saved cash into the stock market, I’d like to diversify more

* I own my home, about 14 years left on a mortgage with a good amount of equity (which I don’t want to touch for now)

* I have about $250,000 that I’d like to start to put into buying real estate

Goals/availability/knowing thyself 

* I’d like to retire in 15 years, so my play is more toward equity, any amount of positive cash flow is icing on the cake. In this market I can't have my cake and eat it too

* Given my situation (being a provider), my amount of free time after W2 job, and kids/being a husband, I can devote about 10-15 hours per week

* I want to be a passive investor, I do not have the time to self-manage or do anything beyond cosmetic rehab, but ideally mostly ready to rent properties

* I’m located just north of Tampa, FL. While I understand the market is hot here, I’d like to diversify my investments out of state to hedge on the FL insurance issues and from natural disasters (I don’t want my eggs in one state basket)

Strategy

Given what I explained above, and through additional research I’ve been doing. I’m thinking of targeting:

* San Antonio, TX as my first investment area

* A LTR single-family house (minimal to no rehab), I've done the STR once and it did not go well (primarily due to my ignorance)

* I like the idea of jumping in at a lower price point of entry to get my feet wet again

* If all goes well, then I’d like to accelerate and look to acquire more properties

* Putting together my team (realtor, property manager, etc.). I will not self-manage

That’s my story, folks, and what I’m thinking of doing. My apologies for a long-winded post, but hopefully the background information helps. I look forward to any and all feedback!

Bill

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