Jumping from shiny object to shinier object a bad thing?

Question

I'm currently reading the Ultimate guide to REI and I stumbled upon this blog post here:  http://www.biggerpockets.com/renewsblog/2011/1/14/are-you-investing-in-real-estate-with-clear-intentions-do-you-have-a-plan/

My end goal is house hacking and buy and holds for multifamily homes.

I don't have the money, experience, knowledge, reputation, partners or mentors to practice this, so I plan to start with wholesaling to build a foundation.  Once I gain enough resources from wholesaling, I'll invest in flipping houses.  Then once I gain enough resources from flipping houses, I'll invest in my end goal.

I understand that focusing and mastering a single area in REI is a good thing, but what if you don't have the resources for that area yet?  Is it a bad thing to focus a lot of time, effort and money on wholesaling, only to drop it once I have enough resources for flipping houses?  What about jumping from flipping houses to multifamily homes?

Victoria Avery · Answer

Thank you Clayton Rokosh and Jeremy Hunter,

You have both captured my direction.  Clayton, with your plan and Jeremy, with your affirmation.

To our mutual success!

Victoria

Jeremy Hunter · Answer

Honestly wholesaling is one of better ways to get started in the investing realm. There you can start practicing the more creative ways to buy homes and get connected with the bigger investors. Bird dogging is similar to wholesaling and is also a different way into getting started.  In all reality it is going to help you establish a network that you can utilize that will help you as you grow in the business. There are investing groups that still wholesale and invest in the rehab part as well. Sometimes when looking at a property it might not feel like a money maker to you but it might work better for someone else to take on. That is why wholesaling can work for you even as an investor.

Account Closed · Answer

@Victoria  Avery

What?!  I was able to help capture your direction indirectly?  I don't even...I'm not sure what to say...I guess I'm happy to have helped!  :)