I currently own a 3 unit multifamily home and undergoing a complete reorganization; new leases, new tennant application process and paperwork, and rehabbing. I found that all of this was necessary after crunching the numbers and realizing how much energy I was losing, for example, by not training my tenants or hiring the plumber that would have saved me days of anguish. I have finally learned my lesson...The hard way. I still need a lot more help to "get out of the woods" so to speak.
I am not profiting on these rentals. They are single and double bedroom apartments; not suited well for a working single permanent situation. The single bedrooms are smaller without washer/dryer hookups and other amenities that attract long term tenants.
I bought this home from a family member (bad idea in my book), and I was uneducated about home values. To make a long story short... I dont believe there is a whole lot of equity in the home to refinance (already spoke with a bank). Perhaps I should sell the property? And buy a better investment? Or keep it and keep pouring money into it, maybe someday I will have positive cash flow? I would like to flip homes at this point in my life, and accrue enough capital to purchase and hold investment properties to help my retirement. I just want to know if I'm taking the safest and smartest steps.
Can bird dogging be lucrative? I see properties around that would make someone rich, (If i had the cash to fix and flip it would be me getting rich). Do people make a living bird dogging?
I want real estate investing to be a full time job for me. So many questions....so little time.
