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Updated over 4 years ago,

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4
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Cyrus Jones
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4
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Best Real estate strategy?

Cyrus Jones
Posted

My name is Cyrus Jones, I am 28. I just wanted to get some advice for my specific situation. I have a decent paying job, one rental property and I am privileged to veterans benefits as well. With all my income I am able to save about 40-60k a year for investing. The only problem is that recently I decided to start putting all my investment funds toward my consumer loans averaging about 6% interest. In doing so, I do not have any cash on hand to invest. However, If I started allocating my funds towards real estate temporarily; I may be able to take advantage of the opportunities coming in the next year or so to make 20% or more. Justifying the shift in funds.

My question is what would you do in my situation to build a rental portfolio as quickly as possible? What is the best strategy to find properties, finance them, and acquire them as quickly as possible. My goal right now; I would say is to get 30-50 properties as quickly as possible. I have considered "BRRRR" but as I have learned more recently a BRRRR doesn't really work unless the purchase and renovation are made in cash which would lock up a lot of capital for at least 6 months not to mention it would take me about 3 years for me to save enough to buy my first one. Not to mention it would take 15-30 years to acquire 30-50 properties which is not ideal. I also considered flipping and using a 1031 to buy BRRRR. That way I can leverage my money, do more flips with the same amount of money it would take to buy one BRRRR and refinance at the end of the BRRRR to buy even more BRRRR deals. From what I can tell, a flip, then BRRRR would be the fastest way to do what I'm trying to do assuming I can find viable deals quickly and consistently. Are there other strategies that I am missing? I understand that this would not be legal advice. I am interested in your opinion based on all of your experience over the years as what you would do knowing what you know now. Any advice would be much appreciated.

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