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Updated about 10 years ago on . Most recent reply

Account Closed
  • Future real-estate investor
  • East Selkirk, Manitoba
25
Votes |
74
Posts

Jumping from shiny object to shinier object a bad thing?

Account Closed
  • Future real-estate investor
  • East Selkirk, Manitoba
Posted

I'm currently reading the Ultimate guide to REI and I stumbled upon this blog post here: http://www.biggerpockets.com/renewsblog/2011/1/14/are-you-investing-in-real-estate-with-clear-intentions-do-you-have-a-plan/

My end goal is house hacking and buy and holds for multifamily homes.

I don't have the money, experience, knowledge, reputation, partners or mentors to practice this, so I plan to start with wholesaling to build a foundation. Once I gain enough resources from wholesaling, I'll invest in flipping houses. Then once I gain enough resources from flipping houses, I'll invest in my end goal.

I understand that focusing and mastering a single area in REI is a good thing, but what if you don't have the resources for that area yet? Is it a bad thing to focus a lot of time, effort and money on wholesaling, only to drop it once I have enough resources for flipping houses? What about jumping from flipping houses to multifamily homes?

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