I've been wondering around the site for a few months trying to find some answers, which I have, but figured I better post up and hopefully get a bit of varied responses to my most pressing questions.

As the title states, I want to transition from a buy and sell investor to a buy and hold investor. I have been buying, rehabbing and selling homes with my father for a while now. We have done roughly 50 homes over the last 7 years, and have become quite good at it. We have our own crew and work closely with a few subs. My Father and Grandfather are both investors so I can say its in my blood! They are great mentors, but a bit old school and I'm always looking for new and creative ideas.

Anyways, this year I have taken the reigns as my Dad is retiring, and I plan to move my operation to Boise, Idaho. I have been wanting to move there for a number of years, and feel like I can really stretch my dollars there much more than California.

I will say I am very aggressive person and do things fairly full on. There are pros and cons to this approach, I know, but it just seems to be the way I operate. That being said my goal is to get to a monthly income of $10,000/month within 5 years (hopefully sooner). I plan to be working at investing full time.

So here is what I am working with:

$350,000 in cash

Living expenses saved for 12-18 months (after starting businesses in the past I know the importance of this buffer) Plus I have another stream of income that covers my expenses as extra back up.

Moving in March of 2016

Will have my Real Estate License in Idaho by then

Zero debt and two payed off vehicles (work truck and car)

Single 31 year old male with no dependents

With my rehabbing experience I feel I can take on the majority of projects, and plan to start building my crew right away in Boise. We have a dream team here of hourly employees. So I hope to replicate that.

I'm willing to continue flipping, but absolutely not full time. maybe 2-4 a year just to build more capital.

So with that being said my questions for all of you is...

What would you do if you were me?

What approach would you take? BRRRR method sounds very much up my alley.

What type of properties would you invest in? SF, 2-4 units, 5+?

What niches have you used? I work best in a well defined niche.

My hopes for this post are to come up with a measurable plan of action over the next five years to reach my financial goal. After that I can reevaluate. I'm truly open to all approaches. As I'm reading this post I'm realizing how blessed I am already and am really exciting and hopeful for this endeavor. I could keep writing forever, but this post is already long enough. I look froward to hearing from you all and thanks for your time.

Scott Rist

0 Votes