1st buy and hold completed now I am bored

[Lee Haskins]

How do you keep occupied in between deals?

I purchased my first buy and hold and got a tenant in place a few weeks ago. I am now in the process of the cash out refi process and ready to go after the next one.

Unfortunately, I used up a lot of my funds on the first and don't have enough to cover another cash purchase in the area I buy.

I market like a wholesaler but I intend to keep the properties I am aiming for myself due to the knowledge I am gaining in this particular area I focus on.

So to keep my itchy finger at bay, I have started to study other areas surrounding me to start some true wholesale marketing to sell to other investors.

I read and study all I can but it is no where close to adventure of dealing with a physical property. So what say you, what are some things you do in between properties to keep yourself occupied?

[Steve Vaughan]

Congrats on your first stabilized and occupied rental @Lee Haskins!

The in-between times can be hard to get used to at first.  We are in go mode! I remember itching back in the day.  Eventually you'll have to find a hobby and maybe learn to take naps in the afternoon.  Budget for a day of 'you' time.  That's why we do this! Mine is Thursday.  A bike ride, bad golf or home with a movie or to the river with my dogs.  Weekends are family time for me so I have my day during the week.

For now, I would do what you are doing.  Learn and market. The marketing machine must continue, especially in the early-going.  Map out your target area and drive for dollars.  Do you have postcards to send to tired looking houses and plexes?  A notebook to jot down addresses of for rent signs and high grass?  

When I was marketing more and seeking deals, I had certain days I did certain tasks. Check craisgslist this day, search notices of default this day, drive for dollars this day, check garage sales Satudays, etc.  When your portfolio grows, you'll work in lawn-mowing days, garbage check days (if you have apt bldgs) , paperwork/bill paying days and stuff like that.  Leave a you-time day. I would rather work more on the days I work to have days off, than 'work' a half-day everyday.  

Just my $.02.  Congrats again and please keep us posted!