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Updated almost 9 years ago,
Feeling Overwhelmed/Struggling to Pick Niche/Strategy
Hey friends,
I'm a new investor, just bought my first property (a duplex) that I intend on holding for rental income (currently living in one unit). My problem is now, I want to really narrow down and focus on a niche/strategy to start building my portfolio. but I can't seem to pick one thing. Everything seems great. My ultimate goal is to have enough rental income coming in that I don't have to work and can live comfortably ($10,000/mo), however I don't know what to choose to get there. Buy and Hold SFRs, small multi's, apartments, mortgage notes? Or should I flip to build up some cash first? Then of course there's the problem of where to actually invest. I hear a lot of people say to stay local at first, but I'm also in San Diego where the competition is fierce and (as far as I can tell) few to no cash flow properties are out there.
A little about myself I'm transitioning out of the military and will be going to school using my G.I. Bill (Military pays for for tuition and housing costs), but other than that I won't have a job so I will have the time to work on my RE business.
I appreciate any advice on how to choose a niche/strategy and actually stick to it without getting sidetracked by the many others that are out there!