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Updated over 3 years ago on . Most recent reply

User Stats

72
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Nicholas Glatter
  • Investor
  • Tampa FL, USA
20
Votes |
72
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Knowing what you know now, what would you do?

Nicholas Glatter
  • Investor
  • Tampa FL, USA
Posted

Knowing what you know now, what would you do if all you had was 75K and wanted to achieve financial freedom in 3 years.

Please answer this from the standpoint of someone who has very little rental experience.

Put yourself in my shoes taking consideration to risk, free time and experience.

  • Nicholas Glatter
  • Most Popular Reply

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    Joe Villeneuve
    #4 All Forums Contributor
    • Plymouth, MI
    19,407
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    Joe Villeneuve
    #4 All Forums Contributor
    • Plymouth, MI
    Replied

    1 - Focus on using that money instead of spending it.  That means you need to recover it ASAP from each and every deal it enters...with profit.

    2 - The 2 strategies I would learn and use first would be Sandwich Lease Options and other forms of Seller Financing.  These are two of the strategies that involve the least amount of up front cash, and will recover that cash quickly.  This will allow you to expand your seed money (cash) which will give you more choices.

    3 - Learn as many strategies as you can.  This gives you more opportunities and won't force you into making bad deals because you're focus is on the property instead of the deal.

    4 - Learn how to analyze markets (not properties). Spend 90% of the time you spend each day on REI doing this.

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