Quote from @Joshua Jones:
So I’m jumping into real estate investing.
Have access to about $300,000 (not planning on using it all at once.)
There are so many different strategies, LTR, STR, MTR, BRRRR, tax lien foreclosure etc.
Is there a book or course I can buy that goes over all the different strategies?
Maybe a personality assessment test I can take that will match me up with the right strategy for me personally?
I know this about myself, I love learning, building systems, and the joy of completing the project…
But then I want to be on to the next thing.
Quick communications is my love language, but I know I don’t want to personally be taking calls from angry tenants to deal with issues. (I know that’s where a good PM comes in.)
I’ve read half the Rich Dad series and took their course.
But still feel like the only strategy recommendation for a newbie is 2-4 Plex’s, which every other investor seems to be doing as well.
Like the idea of BRRRR and MTR, but know little to nothing. I also have no rehab knowledge personally.
Any specific guidance on books, courses, masterminds, mentors etc for strategies and implementation?
I’d rather follow a proven system.
I could be wrong, but I'd say 'proven system' is relative to the person who's selling the system. Sure people can 'copy and paste' a strategy and rock it out, but it's my opinion that ultimately you have to figure out what works best for you. It sounds like you're a Fast Starter (Kolbe Index) like me, so a 'proven system' may not work for you, as it hasn't for me.
I've been learning and implementing systems over the last 5 years and it all culminated into my two recent burn outs this year. Yea... both happened in one year. That got me re-evaluating myself and what I've been doing. I found that I've been trying to shove a square block into a circular hole, trying to be a 'professional home buyer' using sales systems I've learned over the years. Doing this depresses me, so I've slowed down.
I'm kinda in a state of 'self discovery' right now. I know that I'm great at making simple automations to make my life easier, but I tend to overthink them. My superpower is relating to people and meeting the where they're at, which makes me popular with sellers and new investors who're looking for deals. I'm also good at analyzing Long Term Rentals purchased with either Cash or a Loan. I'm developing my analysis of mid-term rentals so that can be a thing too.
All that is to say that it's about trial and error. Do stuff, burn out, get punched in the freaking face, get back up and roll on. That's where you're going to find what works best for you.
As for books, read Rich Dad Poor Dad again (it's the foundational principles that are important in this book), The Richest Man in Babylon & Think and Grow Rich. Keep up on the forums, post your questions and you'll learn a ton!
Happy to have you on BP, brother!