Part Time Investing

[Dan W]

Are there any successful investors out there who don't do it full time? I'd like to start acquiring properties that I can rent for positive cash flow and hold them long term. I've spent some time with a realtor looking at properties on the MLS. I assume there is a lot of competition here as the few "hot" listings that I have seen sell within a week. I own another company (non real estate) that keeps me busy so I can only realistically spend about 10 hours a week on real estate ventures. It seems like buying from a wholesaler could be a good option as someone else is doing the leg work of finding the place for me. The only drawback with that approach is that I would need to find someone I can trust and do business with.

Any insights are appreciated.

Thx

[Michael Rossi]

Dan,

You can certainly be a part time investor. However, I wouldn't change the standards just because you're investing part time. You probably won't find a good deal on the MLS and you CERTAINLY don't want to buy a "hot" listing. Therefore, I would strongly suggest using your 10 hours per week to find the deals yourself. Get out of the house and look at houses for sale in your area. Tell everyone you know that you are buying property. Do whatever it takes to find a property at a HUGE discount. It takes work, but you can do it.

Good Luck,

Mike