I am a new real estate investor, and my current strategy is to leverage the VA Loan with a 4-plex to reduce my monthly rent expense. The goal is to free up more money to reinvest. I am aiming to have a portfolio of 2-3 long-term rentals within the Colorado market by 2026. I plan do this with creative financing. I am also exploring wholesale strategies to help reinvest those earnings back into the market.
I also have a full-time w2 job where I find myself working close to 55-60 hours per week. I am a regional clinical director where I oversee multiple facilities serving individuals with severe and persistent mental illness. I have done this type of work majority of my career in both short-term and long-term supportive living environments and have often joked about how I am the "therapist landlord". I have amazing analytical and assessment skills, from screening tenants to having hard conversations i.e. complaints, evictions etc. The areas I lack experience in would include construction, repairs and handyman work.
So now, to my question... has anyone successfully developed a Property Management company to help them transition into the REI world? What was your experience? What are the pros and cons? My thoughts are that it would help create more exposure in REI, give me real-world experience, appease the VA when approving my multi-family property and also help me make the plunge out of my W2 (which, admittedly, is slowly sucking the life out of me).
All thoughts, suggestions, feedback and shared experiences are welcomed. Thank you!
