Investing in Today's Market

[Alex Williams]

Hello,

I am new to investing in the Virginia Beach and Norfolk area. I am working to find a multifamily deal with my team but I also know the times are changing in the current real estate market. I wanted to get advice from the experienced investors in the area. With how the market is today do you think multifamily deals or short term rentals are the way to go? @Dezmon Robertson

[Patti Robertson]

IMO buy any deal you can find that meets your criteria and makes financial sense.  Deals are too few and far between to be picky and choosy. When I was building my portfolio one of my very wise advisors told me that if I wanted to end up with 50 houses I needed to buy 100, then sell off 50.  As you grow your portfolio you will learn what works best for you and what you like and dislike.  Just like you do with a tree, you can prune your portfolio as it grows to cut off properties that aren't a good fit and fill in with more that are.  No property is worth overpaying for, so I'm not saying buy everything you can.  If the numbers make sense though, add the property to your portfolio, regardless of your investing strategy.