Many people that build a lot of long term wealth in RE engage in a combination of flipping/building and rental property ownership, mixing quick/fast and slow/steady.

Well, to be fair, most of what I do and the way I approach this business is a derivative of his philosophy with some Jack Miller, John Schaub and a lot of Peter Fortunato mixed in.

@Christopher Hunter We are building spec projects (SFR, MFR, Condos) that we will sell to owner/users or investors for buy and hold for short term and long term rentals, We also will be doing some commercial type stuff (office space, mixed use, etc.)If there's ever anything I can help you with, message me and I'd be happy to help or point you in the right direction.

If we add another partner to the mix that minimizes the profit.

The company got my lenders mixed up and it took a week to get that straightened out but otherwise I am happy.

Question #1:Short answer:yes, usually.Longer answer:It depends upon the model that is being used.There are models, i.e. predictive tools that forecast various outcomes.Some models predict the likelihood to become 90+ Days Past Due (DPD), to declare bankruptcy in the next X moths, to open a retail credit card, to open a bank card, to open a premium bankcard, to revolve a balance, to pay down debt . . . . well, you get the picture.Most often closing a credit card does hurt one’s credit, i.e. depress a consumer’s score, because the credit card’s available credit is removed from the denominator (all credit available) that is used to calculate utilization, the mix of credit card changes (esp. negative if the credit card is a higher-end card), and one’s credit history is shortened (assuming the closed credit card has been open for some time).Question #2:The quickest way to increase one’s credit score is to use of the many outfits one sees advertised, i.e. credit repair, credit fix and one will usually see a quick bump.However, like eating candy when one is tired, one gets the sugar rush (the increased score) but there is always a crash (when the bureaus catch up to this questionable practice).

There is a mix of price ranges in my town.

Some people put 10 in the husbands name and another 10 in the wifes name so they can do 20 Fannie loans. i can get at most $1125. it's a 3/1 brick ranch in a great area, around 1050 sq. ft. it would take about 2 months until i have tenants and i'd have to use realtor.i have gotten mixed feedback on "wife's 10 and my 10". some people said "if you file taxes jointly, you are allowed just 10 total". so i dont know the true answer.i know i can get up to 20 Homepath homes, but the prices have increased and unless i get a great deal (working on one now), it's impossible to get off the MLS anymore in the 2 cities where i stay.

So it really depends on where you're at.And of course, a mix of flipping some and holding others is a great way to approach the business as well.

. :-) I had envisioned a mix of cd's and bonds if I wasn't educated yet, perhaps micro-loans for people's education (what upstart.com is doing already, as I found out).