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Updated over 3 years ago,
Where I See Myself Heading
Hey BP,
I am on the newer side of REI but have fully emersed myself into the community and my future goals have REI front and center. My Goal is to create a fine tuned system that will eventually lead to multiple commercial properties cashflowing enough to offset my current W2 job. I currently am house hacking a residential MF and looking for the most efficient way to achieve my goal. Here is my thought process about my next steps (Trying to have a plan in place so I have direction but also trying to not be too wishy washy as the best way to learn is to do)
I look forward to any comments or advice as I know there are some very knowledgeable people here and I value your opinion.
In what I have heard and seen, one of the biggest parts, if not THE biggest part of REI is finding deals. I believe and have been told by numerous investors that if you are able to find a good deal, everything else will follow. Knowing this, I naturally have looked into wholesaling - Now hear me out! - I know wholesaling isnt for everyone but if you can learn to wholesale effectively and find deals then that is skill you can bring into any avenue of REI.
Once confident and able to find deals - I would then shift my focus to finding commercial deals and partnering with investors in order to achieve my goal
My Question to you BP is this. In your experience and opinion, If my ultimate goal is to do Commercial REI do you think learning how to find great deals by wholesaling for a bit is worth it? Or should I invest my time directly into learning/breaking into Commercial REI.
I dont want this to be long winded so Ill leave it at that and you have any questions let me know!
Also - If you are a commercial REI I would love to connect!
Kind Regards,
RT