All Forum Posts by: Account Closed

Thank you, Shawn!

Hello All,

My name is James--- I am writing this post in hopes of obtaining some career guidance. I currently hold a full-time job that I do not enjoy, does not pay very much, and is not teaching me useful skills, real estate-related or otherwise. I am 34 years old, have limited capital and student loans, and am interested in wholesaling properties or connecting motivated sellers and buyers for a fee. I live and work in Nashville, which is a burgeoning real estate market. I'm currently deciding between two directions to guide my energies moving forward: 1) Continue in my current job and focus on wholesaling/birddogging in Nashville with the aim of increasing personal revenue, paying off my student loans, and working toward a more balanced personal financial picture, as advocated by Robert Kiyosaki in "Rich Dad, Poor Dad". I am energized by the entrepreneurial aspect of researching properties and wholesaling/birddogging. Or, 2) Focus more intently on looking for a full-time job in real estate in hopes of transitioning out of my current job and finding work that it is more enjoyable and involves better learning opportunities. I have a Bachelors of Science in Finance, limited work experience in real estate, and a Masters degree in an unrelated industry. I am motivated and curious to see what this path may produce, although I anticipate challenges associated with changing careers and feel I would probably have to put my entrepreneurial inclinations on hold for now. I think I would be too thinned out if I followed both paths simultaneously. 

Does anybody have any advice for my situation? All comments are welcome.

Thank you!

Michael-- Thank you! I really appreciate you providing your experience. This gives me a better idea of how a self-storage deal would break down. I will continue to learn. You're an inspiration!

One other question: How does the purchase of a self-storage unit (or any investment property) factor in to your decision to purchase or rent your OWN living quarters? In other words, would you consider it a priority to first buy and pay off your own house, duplex, etc. and then focus on other investment properties? Or, does it depend on your overall financial situation?

Thank you! This is an excellent breakdown of what I was thinking. I really appreciate your input. I don't have $250k cash right now, so wholesaling may be a better short-term goal, while self-storage could be a longer-term goal.

Hello everyone,

My name is James Moore and I am a newbie in real estate investing, but very interested. I am currently deciding on a direction to take in real estate with my general goal being to invest in assets and generate passive income. I'm attracted to the idea of wholesaling residential properties because it sounds like it does not require large sums of capital and I could do this in addition to my full-time job. I figure proceeds could be used to help pay down my student debt. However, I am also intrigued by the idea of self-storage investing in the long run, although it sounds like this type of project is more involved and requires more capital.

Do you have advice for a newbie interested in either wholesaling residential properties or learning more about self-storage investing? What do you think are the pros and cons of following one path vs. the other? It sounds like the financial gains may be quicker with wholesaling, but I find the self-storage concept appealing. Is there a good book that describes how to invest in self-storage?

Thank you!

Hello everyone,

My name is James Moore and I am a newbie in real estate investing, but very interested. I am currently deciding on a direction to take in real estate with my general goal being to invest in assets and generate passive income. I'm attracted to the idea of wholesaling residential properties because it sounds like it does not require large sums of capital and I could do this in addition to my full-time job. I figure proceeds could be used to help pay down my student debt. However, I am also intrigued by the idea of self-storage investing in the long run, although it sounds like this type of project is more involved and requires more capital. 

Do you have advice for a newbie interested in either wholesaling residential properties or learning more about self-storage investing? What do you think are the pros and cons of following one path vs. the other? It sounds like the financial gains may be quicker with wholesaling, but I find the self-storage concept appealing. Is there a good book that describes how to invest in self-storage? 

Thank you!