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Updated almost 8 years ago,
Seeking Expert Advice! Hit a plateau with my buying options
Hello All!
I want to start by thanking everyone who takes the time to respond to my post. This is a great community of investors and your assistance is always appreciated.
I'll try to keep it short. I started investing in Indianapolis, where I live, in June of 2014. I purchased 2 duplexes before the end of the year. Then, by the end of 2015, I managed to purchase 1 more. I currently own the 3 duplexes in total, great cash flow, I vet the tenants, I manage the properties.
I noticed over the last 3 years that market heated up fast, and it became alarming more difficult to find good deals. At this point I wouldn't say the market has dried up, but I go months without seeing a good deal. Occasionally one pops up and its gone in 3 days flat!
I don't know what to do. I love investing because, as with everyone, I don't want to work for someone else and Im seeking financial freedom at a young age. Moreover, I truly LOVE the act of investing. Its the greatest game on earth! However I feel Ive hit a road block and I'm not sure where to go from here.
Ive done a ton of research and reading. I have looked into flips, the BRRRR strategy, buying notes, buying turn-key rentals out of state, perusing auctions, attempting to move toward buying commercial properties, and on and on. I have some capital saved up, great credit, solid experience and I am eager to make a move, but there are so many different directions to go I find myself getting lost and Im not sure what to do next.
So there lies my question. Where do I go from here? Are there any right answers? I can not be the only investor that has run into this roadblock. If the deals were still flowing I would just keep buying up multi families that cashflow, but the market says otherwise. My end goal is definitely commercial apartment complexes, but Im not sure if I have the right pieces in place to make that happen.
ANY AND ALL ADVICE IS GREATLY APPRECIATED!!!! Thank you all again for your advice and support.
Sincerely,
Kenneth Paul Scarbrough, Member, Heartland Home Rentals LLC