Feel confused-Need your advice please

[Mary Jay]

Hi Guys,

I have been a landlord for the last 10 years and enjoy it ( I only have 3 SF houses). However, lately prices climed high everywhere and it has been hard to do buy and holds. So I feel I am pulled into different directions, wholesaling, online auctions, etc..I have a full time job so as a result of being pulled into this or that into all the limited time I have after I come home from my regular job, I feel that I have not done anything at all...

Do u guys ever feel like that, when everything is so exciting and you want to do it that you cant finish anything at all and not sure where to go?

[Kenneth LaVoie]

Good thoughts so far. What I know (and often ignore) is that when one is feeling excited and emotional about things, that's often the best time to step back. My Uncle told me once, "Remember: you don't HAVE to buy, but they (usually) HAVE to sell...let the deals come to you." This isn't always perfectly true but if I had it to do over again, I'd be more patient. I started in 2009 and bought 52 units in 3 years (13 buildings from SFH up to 11 unit) and a couple of them are duds because I was in a hurry. Had I waited, a couple of landlords retired and put like a dozen buildings each for 20k / unit ... one after the other ... great deals. I turned out OK but I could be much farther along had I just sat tight and waited.