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Updated 5 months ago on . Most recent reply

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Tracy Y.
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Unsure of where to start/continue on my journey

Tracy Y.
Posted

Hello! Long time lurker in the forums.

I've flipped 2 houses so far, 1 of them failed and I now have wonderful tenants that are 1.5 yrs in. No mortgage. I have listened to many podcasts, networked quite a bit, and read a ton of articles - but at this point I am just overwhelmed/lost with what is the best route to go down today with the way the market is to cash flow because there are so many creative ideas out there. Many ideas sound like a great route to go down. Partners are difficult to find as well because most people at networking events are either have no experience, looking to remain more passive or way too experienced and have their own dream time. Have a full-time job currently, but I don't mind leaving it to focus on RE full-time when the time comes. I am open to strategies out of state as well. Would also love to end in development because I truly enjoyed the flipping process. 

A few things i've considered doing next is finding a quadplex, investing in an RV park, investing in medical offices.

What should I do next? Please help.

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

You seem like you have good intentions, but are beyond lost right now and it's not analysis paralysis, you have shiny object syndrome. Any video you see or article you read on a new way to win, you like. Am I right?

Rv Parks - no, you are not ready. Medical offices - no, you are not ready, and what is the scale here for you. Quadplex - maybe, but you are only 1 for 2 on investing so I would be worried about taking on 4x the problems next.

Also, this statement "I don't mind leaving it to focus on RE full-time when the time comes" is scary to me. You want to keep your job as long as possible because that's what makes you lendable. You have 1 success and 1 failure in a field (saved with renters I hope) and you are plotting a path to doing it full-time?

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