Multiple strategies vs focus

[David Cornett]

I live (rent) in a very expensive housing market and will likely continue to rent in the near future as it allows me to live within walking distance of work.  However, I'm looking to buy a rental property and am especially interested in a few strategies:

-Marketing to tax delinquent owners both in the immediate DC area and small towns (population ~30,000) an hour or 2 from DC

-Marketing to absentee owners in the smaller towns

-Tax lien certificates (option in Maryland close to DC)

-Tax deed auctions (option in Northern Virginia, but likely HIGHLY competitive bidding)

-Purchase bank REOs

I've been learning about these as much as I can. Part of the problem is that I'd love to be able to buy in the immediate DC metro area.  And I think that it is possible that some of the more creative strategies could yield something that cash flows...(at least 1% rule, although I analyze each deal thoroughly).  But it would have to be a really distressed sale. 

So, I know enough that trying too much is likely to fail.  But if I need to simplify, should I eliminate some strategies (or try them one at a time) or geography?  For example, I could focus on 3 of those strategies in 1 of the smaller towns.

Thanks in advance!

[Russell Brazil]

The tax lien strategy is one that is best utilized as a volume strategy I'd say, that means bidding on hundreds or thousands of lies.

There are much much easier strategies to acquire a property. In fact if you are looking for just 1 property to start, going through mls route is your best bet.