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Updated almost 15 years ago,
UpState NY saying hi while searching site
Hi Everyone,
I've been doing a good job (i think anyway) of getting started in the RE world. I would appreciate any help / reference materials that you've got time to lend. I'm up for reading and searching this site, however, when you don't know exactly what you're looking for it is tough.
Let me start with where I'm at currently, and where I would like to go. Maybe then you can recommend a few strategies?
Currently: I've implemented a buy-rent-hold strategy for an area that I've come to know very well. I've refined my routine to be self sufficient at everything it takes to find a good investment, get the deal closed, rehabed if needed, and rented. I am not a realtor.
I've grown to 6 SFHs and 1 duplex, in the last 2 years after saving seed capital for about 2 years. I still work full time and carry out all duties that will keep more cash in my pocket for expanding (given I have the time to do it).
OK OK - so I'm on my way, and I'm CF positive.
Where from here?
Do I get my Realtors license, so I can get my Broker's license?
Do I simply continue on with what I'm doing?
Do I get into Wholesaling / REOs?
Do I create a asset acquisition entity that specializes in helping investors acquire RE holdings (and then start a PM entity to manage it for them)?
Do I do all of the above?
I'm looking for a good overview of all RE strategies
sorry... just a newb trying to exit the rat race ASAP.
And Finally:
Where I want to go: I would like to become a developer. Is it best to forget all the above, and focus on writing an excellent business plan for my development dream? I'm finishing the text "RE Dev, Principles & Processes 4th ed"
Thanks all!
- Mark Updegraff
- Podcast Guest on Show #112