1st deal done: now what?

[Garen S.]

I bought a vacation rental property 3 years ago for a great price. I rented it using an agency and their fees combined with the high HOA fees made it a negative cash flow in that setup. I really didn't know what I was doing and should have managed the property myself.

Anyways lucky for me the property appreciated and I recently sold the property for a 200k profit. That plus the 150k equity gives me 350k to reinvest.

I currently distributed the 200k for a 1031 exchange.

I am looking at SFH in my area which range from 250k-400k.

Trying to figure out best strategy for investment. For background I have a good job and I have a 4 day work week. I have a traditional balanced portfolio with no real estate holdings except for about 65k in an REIT.

My job is on auto pilot and I’m looking for a challenge and am excited about expanding my real estate investing.

My thoughts on proceeding are: purchasing a SFH with 25% down and managing myself then invest rest in syndicate or passive real estate deal. Purchasing multiple homes. Paying cash for single home and then managing. Thoughts.

[Pride Davis]

What was the deal? Did you post in the Deal Diary?

[Joe Villeneuve]

Your next move should NOT be a property.  Your next move should be a plan that lays out each decision you will make from property to property.  You should never ask the question, "what do I do next", ever again.