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Updated over 4 years ago,
Advice for diversifying
Hi all! This is my first post, but I have been a member for the past month and have just been so grateful a friend referred me here.
I recently sold my first primary residence and made out pretty well on it. It was doing absolutely fabulous on Airbnb, but held the majority of my assets and was on an earthquake fault line. I am hoping to disburse the profit from the sale among more Airbnb properties for cash flow. I am in Denver currently and have been toying with CO Springs as its close but feel it may be better suited for a long term stay and hold.
I guess one of my main questions is when just starting how would you diversify your portfolio. My goal is to obtain at least 3 Airbnb's for cash flow before investing in more long term or risky flips. My husband and I plan to renovate whatever we purchase to obtain deals and because we absolutely love to remodel (yeah I know we're a bit off lol). My husband is more interested in flip's for this reason as we also can provide the majority of labor, however I am hoping for more cashflow before taking the riskier investments.
What would you recommend for a beginner but not a rookie like us?