Best REI Strategy for Demanding Career

[Giuseppe Natale Jr.]

Happy Halloween BP Community!

My name is Giuseppe Natale, first time poster, long time reader. I am a 26-year old (newly minted) attorney from New Jersey. My question goes out to any fellow lawyers—or anyone with a very demanding job for that matter—is there any specific REI strategy that you found best works with your schedule? (BRRRR, house-hacking, flipping, etc.)

My initial thought was to begin my REI journey with house hacking. My wife and I are currently in the market for our first home, and a multi-family is definitely of interest to me. That being said, I'm very open to suggestions and would love to hear success stories from anyone else juggling a busy work schedule and real estate investing. Thanks in advance!

[Tatum Littleton]

Hey Giuseppe! Great question as many are full-time investors and don't have a career like yours. In full transparency, I do not have an as demanding job but I can offer the advice I have learned. 

I would encourage the househacking multifamily option for you and your wife. It will teach you home ownership as well as managing a property at the same time so you gain more experience quickly. REI really isn't as passive as some would make it out to be, it does ask plenty of you but that is where your team comes in to assist you such as screening tenants using a property management company or updating properties by using contractors for specific needs, all depending on what you are comfortable and able to do on your own.

As for my wife and I, our investment is about an hour and 45 minutes away in Bryan/College Station, TX, she works a full time job in Austin and I'm gone six months of the year traveling for my other job (REI agent part-time). I do a lot of scheduling maintenance and contact with tenants from wherever I am... thank goodness for the internet and cell phones! Ours is obviously not a househack but that's what worked for us at the time... and that's what I would tell you to ask yourself. What works best for you and your wife right now in this stage of life?

So, with all that to say... it depends. Househacking may be the best on paper, but maybe not in actuality, that is up to you and your wife. I would encourage you to look into as many different ones it down to the strategy that you and your wife like the best and would be most effective at this point in your lives. 

I hope this helped, good luck!