Business ideas and suggestions
I am a licensed electrician looking to potentially open my own contracting business. I also am a landlord of 2 rental properties and plan to continue expanding my portfolio. Any suggestions which route I should take?
1. Focus on building electrical company first then expand rental portfolio.
2. Concentrate on accumulating as many rentals as possible until I have enough cash flow to comfortably cover my monthly expenses then begin building my electrical business without the NEED to pick up jobs to survive.
I keep going back and forth but unable to make the final decision. I’ve got no issues with my current job just feel I’ve got more in the tank. I know if I start my business now, I won’t have much time for real estate which is a bit worry sum for me as I love real estate too. I’m also very handy with other trades, can do my own drywall, painting, flooring, plumbing, you name it. Which is where I could see a big advantage to going the real estate route and doing my own Renovations as a contractor saving a ton of money. Any suggestions input or help would be greatly appreciated