Which strategy to invest in?

[Shak Noor]

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. After about 4 years I ended up selling that note.

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.  I've hesitated to put more money into that business as it can be pretty slow especially with legal processes.

We moved out of our house this year and put that up for rent.  My first time actually landlording.  I've never been to crazy about rentals but I'm willing to do what makes most sense.

This year I was working with a partner to get into a business (notes business wasn't high enough velocity), we were looking at an express car wash or self storage, both projects would be multimillion dollar liability and we worked on this for several months until I came across a developer to works with investors.

After learning about what he does, it definitely caught my interest to get into development since you got the money out that you put in plus your gain.  Building a strip center seems most appealing, but also has its challenges (would lease out then sell).  I've also spoke to folks about building townhomes and selling or demo/rebuilding 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, etc.

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?  I'm curious about your thoughts on the different ideas/strategies I've laid out above.  All in all I want to build wealth and financial freedom (don't we all?).