Selecting the Best Investment Strategy

[Ryan Corbeil]

Hi fellow BP members. I'm new to real estate investing and I'm looking to select an investing strategy. My goal is to align my career skills and  experience with the best fit, instead of only going by others experience or recommendations. Previously I've worked as a systems engineer and currently do energy engineering consulting on commercial building's HVAC systems.

BRRR, Buy & Hold, Wholesaling, and Traditional Flipping are types of investing that I've heard of. In addition to reading the ultimate beginner's guide (UGB), can anyone share information, articles or resources that could help me come to a conclusion after considering the trade-offs?

Also, if you have a similar background and would be willing to share your real estate investing experience, I'd be happy to hear!               Thanks, Ryan

[Chris Levarek]

@Ryan Corbeil I think my idea of systems engineer might be incorrect as I work in IT where that can simple mean an computer engineer :). 

But I digress, good to start with understanding your strengths as you are, especially when looking to form partnerships. Real estate is all about partnerships, because more likely then not, you will not wear all the hats(And if you do, it will be short-lived or you won't scale very quickly), in my experience. And even, when you simply hire an attorney, property manager, realtor, those are partnerships in a form.

Also, many a shiny object and strategy out there. I suggest clarifying reason for investing. Start with Why, then work on the How and What. Is your goal to get good at a strategy? Or is your goal to have more time, create another stream of income, build a retirement nestegg, quit your job, etc?

Each strategy will have advantages or disadvantages and accelerate or lengthen the time it takes to achieve your goal. It doesn't mean any are bad, just means some might not be as beneficial as others.

I am an Infrastructure or Systems Engineer in IT, I started in BRRRR with private lenders, transitioned to partnering on small multifamily and ultimately invest into apartment syndications now. It can all be beneficial, but starting with why, educating on the strategies that align with the why and selecting one will be a good place to start.