A Little Skin in the Game?

[Erin M.]

Hello, I've always been a stock market investor and am trying to educate myself on real estate as an option to diversify my investments. My initial thought was that I'd like to have '5 doors' to buy and hold with the long term goal of supplementing my retirement. I'm wondering if this 'worth the hassle' to have such few units? I'd love to hear your thoughts! Also, any book recommendations, posts or webinars geared toward small scale strategies. Most of what I've read is geared toward those looking to scale their business (BRRRR, leveraging). Thanks for all your guidance!

[Larry Turowski]

@Erin M. It depends on if you are going to self manage.  If I were going to manage myself I would want easier to manager properties, A class properties with A class tenants.  If I were going to have someone else manage them B or C class (think blue collar, and maybe lower blue collar) would be fine.

What I would suggest is make sure you get good enough deals where, if you decide in a year or two that this just isn't for you, you can sell the properties and not lose any money after all closing costs.

As for books, honestly I find BP and simply networking with local investors more helpful.  Call some rental signs and ask the owner if you can buy them a coffee.  Most will be willing to talk with you.  Ask them what they do for investing and what works and doesn't work for them.