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Updated over 7 years ago on . Most recent reply
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How to build a RE portfolio while managing a full time job
Hi Guys,
I work in Corporate America, typically about 40-50 hours per week plus travel at times. At home we have two small kids. We have little time to invest in real estate, but have managed to build a decent portfolio over an 8 year time frame. We have had a goal of purchasing one buy-and-hold investment per year, but would like to understand how others are handling this same issue.
How do you guys handle working full time, managing personal time with family and being an active real estate investor?
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Nathan Arceneaux This isn't without risk but...find a property manager that you trust and scale around their geographic base. It's one person to call, one person to text, one set of financials each month, etc. The other (arguably harder) think to do is to not fret about the $100-$200 maintenance expenses. You can't worry that they pay a locksmith vs. a handyman. You almost have to force yourself to keep a healthy distance. You have to worry about the "big" things like a vacant unit, trees rubbing the roof, etc. I'm 100% sure I lose *some* undefined spread through not micromanaging. You will likely do that as well. But that's your cost of getting your time back, time with your family back, increased earning power by being able to focus on your job, etc. Only you can tell what that's economically worth to you. There's no right vs. wrong in doing this kind of analysis. It really does vary for everybody. Unless you're leading a syndicate! Then your 50 hour a week job is micromanaging those investments to steward my money.