Hello everyone,
I recently have joined BiggerPockets as a recommendation from some colleagues that are pretty active on the site. I am writing this post to get some insight on where individuals might believe I find the most success with my specific background. From my understanding, a good strategy to becoming successful in real estate is focusing on a specific niche, and becoming an 'expert' in it; this will avoid spending too much time on the vast amount of different avenues of wealth building in this industry. I would be extremely appreciative if I could have some help with that. Here's a little bit about me without going into too much detail:
-Soon to be dentist with low living expenses and decent excess income to work with
-Large amount of side time outside of work (no kids, etc.)
-Most likely moving to the Denver area but possibly other major metros (Seattle/Raleigh)
My overall goal throughout my career is to build a decent size real estate portfolio to build some passive income for myself and my family early on. I figured it's good to start early so that's why I'm here. I've recently purchased BRRR by David Greene, The Book on Rental Property Investing and The Book on Managing Rental Properties by Brandon Turner. Let me know where you think I would excel in this industry. I would appreciate any input.
Hey Soren,
I'd recommend first figuring out the exact goal you're trying to hit wether that be number of doors, cashflow per month, portfolio value etc. That should help drive a lot of your decisions.
Also, depending how hands on or off you want to be would affect your strategy. If you have some time on the side to hustle still I would buy 2 properties a year for 5 years or 1 a year for 10 years and use the BRRRR strategy. You should be able to manage your projects and not get too bogged down. In 5 years you could easily have a portfolio cash flowing $75k+ annually.
Shoot me a DM if you'd like to discuss further!
