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Updated about 7 years ago, 09/07/2017
Which strategy to invest in?
Hi Everyone - the beauty of real estate is that there are so many different ways to be involved. But lately I feel like I'm getting lost in developing a strategy.
I work full-time, but have always looked for areas to invest in. Several years ago I purchased a foreclosed home, rehabbed, then sold via seller finance. I ended up selling that note last year.
Last year I started investing in non performing 2nd mortgages. It's been slow, but some worked out really well, some were a bust, and others were nominal.
We moved out of our house this year and put that up for rent.
This year I was working with a partner to get into a business (car wash or self storage). Focused on this for several months but eventually got distracted with development.
Met a developer and most recently wanted to either build a strip center, lease out then sell. Or build townhomes or demo/rebuild luxury spec homes in highly sought after areas in town.
Also been interested in multi family, Grant Cardine style, buy well add value, hold/sell.
At this point have a decent amount of coin and potential partner but have confused myself on a strategy and what to pursue.
One day I like the idea of cash flowing, sometimes I like exit strategies that development projects have. I'm really having trouble focusing on a strategy at this point.
How do you guys hone in on your strategy and weigh the pro's and con's of different ways to invest out there?
Thanks,
Shak