young with a great job, no debt, little bills, how to invest?

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Anthony Gayden · Answer

That sounds similar to my work schedule. I work 60+ hours a week and am out of town 2-4 months a year traveling throughout the US and overseas.

Since I work so much I chose to buy rental properties and use property management. It will be necessary since you don’t have time to self manage. I own out of state properties as well as local properties and use property management on both.

I suggest you get a book like David Green’s book on long distance real estate investing. His book really isn’t about long distance investing as much as creating systems to invest with more time efficiency.

Craig Jeppesen · Answer

You work too much for $16 an hour. You need to slow down your w2 job to you will burn out.

You could find a partner in your area that has more time to do the work and you put in more of the money. You can use property managers if you want buy and hold. You can be a private investor and lend your money to flippers in your area. You could house hack a duplex and live in one side. Lots of options to be involved in re investing. If I was in my 20’s I would live on $20k and save the rest of your income after taxes. You could have a few hundred k to be a hard money lender in a few short years, or a private lender to flippers. Whatever you decide to do, spend your free time on the road learning and becoming an expert. If you do you will be successful in whatever direction you decide.

Account Closed · Answer

@Justin Schiller are you willing to learn how to be a good salesman? Any winning salesperson should be able to crack 100k working normal hours, and it's a skill that is highly transferable to your investing aspirations. Get after it sir

Daniel Schiller · Answer

Great last name.   Are you working these hours abroad, or in the States?  The other posters have listed great standard strategy, but if you are working someplace like Qatar I would advise finding a ridiculously cheap place to hang out during your down time that isn't in the States.  Maybe someplace like Cape Town. Its beautiful and impossible to spend money.

Regarding not managing your properties; that's not a huge deal, its 6-8% mostly throughout Texas.

Grayson Wester · Answer

I agree with @Craig Jeppesen @Justin Schiller. One thing you'll learn in this business is the value of your time. Right now it doesn't sound like you have much time, but you might have a lot of money at your disposal if you're living responsibly and saving it. If you do have the capital, find someone you trust who is already doing deals that can put your money to work with you being the private lender. Another option is doing a JV deal with someone where you front the money and split the profit 50/50 with them finding the deal and managing all the work.

In the end, if you want to really move towards being in real estate full time, you've got to find a way to shift some hours out of each day and week towards your goal. I totally think you can make it happen within 2-3 years, but you've got to outline a plan that's going to help you get there and start working that plan every day and every week.

Craig Jeppesen · Answer

More specifically this is what I would do if it was me. Step 1 buy a duplex with 20% down, rent out one side, and since you are on the road a lot get a roommate. Step 2 save all your money. Step 3 network with your office and your clients and find out who else does real estate, or is good with their hands. Step 4 while saving and networking learn about your local re market. Step 5 partner with someone you have met that already does flips, invest your money and help out on the weekends or when you are in town. Now within a year or two you have experience flipping and as a landlord.  Now repeat. Keep saving up more money by living frugally and using your good w2 income and money from flips and rents and keep adding to your rental portfolio with large down payments, keep doing flips with your partner, and pay down your re debt by snowballing. If you stay consistent you will be a net worth millionaire in 10 years. Keep it growing slowly and start to enjoy life a little.

Account Closed · Answer

@Justin Schiller you've got options my friend.

You wanna get out quick? You need more money than your job will generate if you're going to do it with passive income.

Option 1: Raise investor money and pick up high yield stuff. Maybe grab a few small multis yourself first, share your success with some people in your network that have a couple of bucks, and get them onboard for future projects.

Option 2: Start selling stuff and make the money you need to buy more rentals yourself. I took this approach, but this isn't an easy one by any measure lol.

112 hours a week is your 1 way ticket to being a prisoner of your job forever. First step for you after you invest the surplus funds you have is getting a job where you can make the same money working 40 hours- you will never build a real estate monster if you can't commit some time to it.

young with a great job, no debt, little bills, how to invest?

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