BiggerPockets

Hi All,

In my mind, RE investors seem to all be very goal-driven, and thats a great thing. But I actually "like" my day job. And I sometimes "like" managing my properties also. But I admit, I really want to be a "hands-on" landlord only when I feel like it, HA! I know right... huh!!?

So, I was just wondering, anyone feel like they are more of a hands-off, buy/hold investor, or am I just crazy? Is that really even possible, especially as a beginner?

Just a little conversation I thought I would start up. Back to digging for deals, not my couch of course. :-)

John

@John C. I identify with you 100%. I came to the conclusion that RE is most fun on a small scale while building additional security in other avenues as well.

The question then becomes what will it take to become independent. Is that a goal? Some people love their work enough that they continue it their entire lives. For some RE is a distraction because their careers are so prosperous.

Have you heard of the book "Your Money or Your life"? In it the author worked to save $100,000 and invested it into 30 yr treasuries. He was to live on $500 per mo. For him that was success.

People on here will say 10k a mo is success. Others have different goals. If you think about 10 yrs from now you will become clear on what you need to do.

Thanks all for the replies so far!

@Glenn Espinosa I am by no means talented enough or available enough to do rehabs! For me, at this time, turnkeys are the only way to go. Nice!

@Jeff S. You are the one who inspired me to write this actually! Your responses to Wade in another post got me thinking... hmmm. But I am by no means too frustrated with my properties! As the song goes, I cant complain, but some times I still do. For all the trouble, my properties kick-butt, but not always, ;-)

@Chris Clothier - WOW! I really admire and respect you and your biz, I think you and I think MUCH alike! I actually really look forward to the day we cross paths at a BP conference or somewhere else. I love hunting down property! I love "measuring" the deal. Bartering or working the purchase is fun, and unfortunately I have the new puppy complex with my homes, but Im working on that, ha. I am also smart enough to know that alot of this stuff is WAY over my head, thats when I beg for help for those that "Get it", not guru's.

By NO means did I want this to turn into any sort of complaint about it NOT being easy. I work at this hard for me, but then again, I own 3 businesses, work full-time and I dont consider myself an "A" personality. I prefer to live to an awesome retirement, thanks to BiggerPockets, much of the hard work has been done, and I didnt have to pay a guru for the knowledge!

Anyone else NOT an A personality? Wish we could all meet up for a beer around the fire! :-D

John

Hi Jennifer,

It sure is nice when you have a "partner" who supports your investment choices. That alone is a huge part of a successful biz! I caution you to maybe edit your hours committed as the IRS might not appreciate that when they see your statement up close. A very successful/knowledgeable investor named Karen Rittenhouse writes in her blog, "A qualified real estate activity is any thing in which you "develop, redevelop, construct, reconstruct, acquire, convert, rent, operate, manage, lease, or sell" real estate. If you are claiming to be a real estate professional on your tax return, you must be able to substantiate 750 hours worked in this profession and show that this was more hours than you spent in any other business endeavor." Just FYI.

I enjoy the hands on ESP if it's a rehab.
I have a great team that gets things done but the wife handles all the accounting.
I have done a lot of deals without even seeing the property other than 'google earth'.
While in Australia last year I did 3 deals online making enough to pay for the entire trip.
My wife is definitely A type & I drive her crazy putting deals together.
The rehab I am doing now was rented before I decided to gut the place. Because it's '78 vintage ranch & after these tenants move on it I may sell it as it has paid for itself. Plush was bored & needed a job for my maintenance guy to work on.
Meanwhile the tenants have paid for their own lighting, bathroom, toilet, etc fixtures. They have hired someone to paint the entire place at their expense & today she showed up with sharp looking glass tile she bought for the back splash in the new kitchen.
She says she enjoys working with me because I am so easy going....she is definitely a type A.