I just closed on my first investment property using traditional financing (whohoo!) so I have to wait a bit before going down that route again, so frankly, any strategy outside of that. Which I know is a hugeeee range and I am getting a little lost trying to focus it!
I was honing in on seller finance or a lease option but the market isn’t in my favor right now so my cold calls are like ice cold calls. I feel like they aren't worth my time, but are they?
I turned my attention to str loans and rental arbitrage but I’m not in a lucrative area (Sacramento) when it comes to that + my experience is limited there so I’m sort of struggling with which direction to turn...
I also am a bit torn on whether or not I should focus my attention on changing my W2 job to something with a higher income, or on making more money as a real estate agent (I joined a brokerage in November!). I haven't made a sale yet but I know that has potential with time.
So my question:
- Do I focus on cold calling seller finances + FSBO's from the MLS OR cold calling landlords asking if they would be interested in a lease option?
- Do I try to learn how to become an Airbnb host + gain STR experience and try to do it in my market? OR do I try to do it remotely in a more touristy/business travel market?
- Do I try to change my W2 job OR do I focus on building my agent sales?
Thank you!!
