All Forum Posts by: Dale K Poyser

You can be diversified in strictly real estate, and you can be diversified in strictly the stock market. I think what should be important is how well you manage your assets and if you spread you wealth out too much you may have a hard time effectively managing them all.

That being said imo as many passive/residual streams as you can have, the better off you will be. Having a lot of fixed income investments (REITS, Bonds, Rental Properties, Royalty income) should be high on the list. Once you determine your financial number (number that covers all your expenses and a little more for fun) and you can consistently bring that in on a monthly basis then you can look at some more active investments that you enjoy. 

By having passive income that supports you, you can afford to be aggressive and take more risks on things you enjoy. you can even afford to get wiped out on your active investments as you learn along the way, and still be ok.

I don;t think there is a one size fits all formula. Some people do very well with internet marketing, Youtube videos, trading stocks, futures, options, selling on Ebay, selling Ebooks, coaching, mentoring, etc. i think it is important to find something you can be passionate about 'that does not feel like work" and then the money will come.

That's my .02

How do you manage the properties in fresno? 

Maintenance?

Tenants? 

Etc?

Congrats on the journey

Sounds interesting to me

1 - Depends on your market, in some markets you can get a house for 40k or less. If you live in such a place then you are well on your way. If you do not live in such a place you can look at out of state investing or investing in a town in your state that has properties prices that low.

2 - Househacking might be an option for you

3 - look into the BRRR strategy. get a place with 20% or more equity built in to avoid the mortgage insurance.

4 - there are some lending options available that will allow you to take a higher interest rate and get some money to help you with the closing costs. Find a creative mortgage broker and see what your options are.

5 - look into partnering up with someone short term until you get the ball really rolling.

6 - Make sure you have good credit and look into getting non-secured lines of credit. Most people talk about HELOCs but you can also use non-secured lines of credit if you don't have a house or a place with equity.

7 - Network and connect with some wholesalers to get some properties with good equity.

Thanks for the update - are there yearly fees to maintain your real estate license?

great job