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Updated over 8 years ago on . Most recent reply
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Seeking an Experienced Mentor
Hi Everyone,
My name is Cory and I wanted to reach out to you all to see if you (or someone you know) is an experienced real estate investor. I'm a young guy (30 - feels fairly young) with a wife and 2 kids and I live in Utah. Since buying my first rental propety I've developed a passion for real estate investing and I've enjoyed the process so much that I'm aiming to one day make this a full-time career and leave my job. My goal is to sustain my life/expenses through passive income and ultimately pass that along to my kids one day. I bought my first unit back in 2012 and I've been trying to scale up ever since. I currently own and lease 7 single family homes in the Memphis area and this has been a big personal achievement for me. However, I'm worried that I'm focusing a bit too much on the ghetto areas with cheap propeties (despite the good returns) and may be missing out on bigger opportunities in MFR. I have no desire to fix/flip, I want to find units that I can hold for the long haul.
So my question is.. have any of you considered this and taken the leap to full-time investing? Was your experience good/bad? Would you mind sharing your startegy and/or your story about your success? Any advice you could share would be greatly appreciated.
Thanks!
Cory