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Updated about 10 years ago on . Most recent reply

User Stats

144
Posts
24
Votes
Kyle M.
  • Wayne, PA
24
Votes |
144
Posts

Growing Quickly - Strategies?

Kyle M.
  • Wayne, PA
Posted

I just rented out my first property and have been thinking of how I am going grow as quick as possible.  Achieving long term steady growth by increasing the number of rentals in my portfolio is my goal.

I currently work for a corporation and make a decent salary.  However, this limits my time considerably which takes flipping out of the equation because of the time and management it requires.

Right now my strategy looks like this:

1. Save for a designated amount of time.
2. When I have enough capital and get approved for a mortgage, buy a second rental.

Some strategies that I have been considering:

1. Partner in flips with an investor with a great reputation to build cash quickly.  I would not manage the project, only seek returns.  This would build cash quicker which will help buy my second rental faster.

2. Find a killer deal and raise private money to fund it.

What are some other ways I can grow quickly? Has there been any strategies that you implemented that has allowed you to be successful?

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