Ideal strategy for high W2 income earner
Hello,
I have read about a lot of investment strategies and i think my best bet is investing for appreciation by BRRRR or Turnkey or buy and hold in places like bellevue-kirkland region (since there is a lot of tech job coming in next couple of years). Or maybe same strategy in out of state in either Charlotte region or Austin-San Antonio. (I live in Seattle)
Looking for other high w2 income earners out there to provide wisdom on which strategy has given then best returns for low effort. I work 40 hrs a week so do not have much time unfortunately, but i really want to gain real estate experience. So i guess i am basically looking for the highest return on my time and capital.
Thanks in advance.
Most Popular Reply
Without going too much into your personal finances, I am going to assume that you make at least $150K a year. As another person in that category and working in a career field that requires a lot of time, I came to the conclusion that buy and hold rentals were the best option for me.
I self manage four single family homes in my local market of Omaha, and the truth is that it doesn't take a lot of time or effort on a weekly basis. These are B class properties with good tenants, so they are very easy to manage even though I work 60+ hours a week, am married and have a young child. Still there is a limit to how many investments like this I could manage as I am too busy to handle more.
I also invest out of state and use property management. I own small multifamily in the Kansas City metro area and a property management company handles pretty much everything else except for the big financial decisions. Moving forward this is the path I will use to continue to grow. I haven't done turnkey yet, but I am considering the option.