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Updated about 10 years ago on . Most recent reply

User Stats

46
Posts
11
Votes
Joe Hughes
  • Investor
  • Triadelphia, WV
11
Votes |
46
Posts

Business strategy

Joe Hughes
  • Investor
  • Triadelphia, WV
Posted

New member to BiggerPockets, and looking for some overall advice on how to get started.  A little background:  I am 47, and just recently retired.  I have had several rental units over the years, and am somewhat experienced in that component of RE investing.  I have also flipped 4 houses in 2014.  So, some experience there as well.  I squeezed this "part time" activity in around my 60-70 work weeks.  Now that I am free of that commitment, I am making RE my full time career.  Obviously, I have some options and my thoughts right now are as follows:

1. Continue to rehab and flip SFH at the rate of 1 per quarter, while I learn more and get trained on the other options in RE investing. Move that number to 2 per quarter in 2016.

2.  Start to pick up some buy & hold rental properties for that passive monthly income that is crucial in between the big flip pay days.  

3.  Once I get more knowledgeable on the subject, start wholesaling deals.  Time frame:  9 to 12 months from now (4th Q, 2015)

4.  Ditto for lease options/buy to own.  Get trained and comfortable, then ease myself into this.  Time frame: an additional 9-12 months. (4th Q, 2016)

I would appreciate any comments, feedback, anecdotes or general advice on whether this seems to be a practical strategy moving forward.

Thanks!

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