Part time

[Joe Capobianco]

I was looking to start investing part time and not sure how difficult it is part time and if there's different types of investing better for part time. I was planning on starting with a duplex and rent then buy more properties but I would like to hear from part time investors or anyone who started part time if renting properties would work well part time or would it be less stressful flipping properties or wholesale. And on a weekly basis how much time did you put into investing part time.

[Jodi M.]

Joe Capobianco Forclousures can be scary. Looking back at our 1st year a quote that stuck out to me was our banker saying "be careful, buy houses cheap, not cheap houses. I wish we would have (and mostly will in the future) bought rentals that needed less or no work. We started off buying bankowned properties(the first 3) that required a ton of work. They took a lot of time to finish which meant high holding costs.We thought we were doing it right because they were cheap. They have quite a bit of equity in them due to the work but there were always surprises. We also bought 2 that needed minimal or no work and were ready to rent in a weekends time. The ones that needed little work currently have the same return as the ones we put all our time into. So next year with the rentals we need to work smarter instead of harder on the rentals.
As for the 2 we did as a fix and flip buying low cost bankowned properties worked great. We put a lot of time into them but with some creative banking and the time of year(no heat/air on etc) the holding costs were not to high. I would deffinitly do that again on the right house.

Good luck :)

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