Real Estate Investors who are Attorneys

[Ebony Sheckles]

I am a new attorney looking to start investing in real estate in the Cincinnati Metropolitan Area. I would like to know if there are any other attorneys here that can lend some advice about their real estate ventures. Specifically, I’d like to know how you managed to devote your time to investing as well as your practice and other career commitments.

[Kris Wong]

I am not an attorney, but I understand the balance of career vs. side hustle very well. It sounds like you're in a place where contributing capital is much easier than committing time. Based on this you have a few options, but they all revolve around you partnering with folks who have the time and expertise, and are looking for capital. The first option is to buy "turn key"/rent ready residential properties (1 - 4 units), and find a full service PM company you can trust. You will of course pay full market price for these properties, but that is to be expected (that's the trade off you're making). You can buy these properties from a turn key provider, or find a realtor who understands how to model investment property returns. Secondly, you could find a local partner in the markets you're interested in who is looking for capital. They may be flipping, or some form of the BRRRR strategy. And lastly, the strategy I prefer, is to find an experienced deal sponsor who is putting together apartment syndication deals, and invest passively. You will find that these will often be the most professionally run businesses of the options I mentioned, and that's primarily due to scale. Of course that's not true across the board, but it's what I have found to be true amongst successful deal sponsors.