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Updated over 7 years ago on . Most recent reply
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Slow and steady investor looking for advice
Hello real estate enthusiasts!
I am a 28 year old investor with a passion for working hard, investing wisely, and setting myself up for a comfortable retirement through rental properties. I currently own 3 single family homes that are fully renovated, rented out and doing good. Any additional work would simply be upkeep.
At this point I have just worked my normal job, saved cash wherever possible, reinvested profits and bought rentals utilizing conventional mortgage financing through banks throwing down 20%. This method has worked for me, and seems like a pretty solid strategy. I don't really want to get into flipping real estate as I know how much work I put into houses. I typically buy houses that need some work, but not complete disasters.
With that being said, is there any advice a seasoned investor did that make their rental business expand faster? Or is my slow and steady approach a good one, and I should just keep at it.
Weak points: I don't have a reliable team of contractors yet. Some, but not really enough for a whole home remodel.
Strong points: A very strong support network of family members(we are all heavily invested in real estate.)
Any advice is appreciated
Robert