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Updated over 6 years ago on . Most recent reply

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Kevin Dash
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Inherited a property that should generate 3k a month income

Kevin Dash
Posted

so I inherited a property that I fixed up and it’s in a prime location so I should get between 2500-3000 monthly in rent. I’m wondering how I can leverage this into a full blown real estate business. Does anyone have any reads or direction they could point me in? I’ll be honest I’m new to real estate investing however I do run a successful marketing firm and I figure a lot of what I do there could also apply here. 

Any help would be appreciated. 

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Joe Hines
  • Investor
  • San Jose, CA
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Joe Hines
  • Investor
  • San Jose, CA
Replied

There is an immense amount of information on this forum and in the podcasts about buy-and-hold RE investing and also flipping.  I'd suggest hanging onto your first rental for a while and see how you like it.  There are a lot of people who get a rental, hold it for a while, never expand and decide it just isn't the business for them.  Take your time for your second rental.    Learn first, then go hunting for your second unit if you still want to take the next step.  I think most people would agree that prices in almost all markets are high right now and good deals take more effort to find, so you aren't falling behind, especially if you learn from the mistakes we've all made. 

There are also a lot of different niches in RE investing.  Some people like flipping, some buy-and-hold, others focus on apartments, many like wholesaling and there are many more specializations.  Learn all you can and see what attracts you the most.  

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