Anderson, SC · Member since 2017 · 3 posts · 0 votes
Hey, I am new to the real estate investing game. These are the 3 different things that stand out to me, and I understand the general pros and cons to each so I was wondering which way you would recommend me to go. Or maybe if it's a thing where I should try each one to a degree, see which I like/enjoy best and go from there? Lastly which one is going to be the best way to building wealth relatively quick
Real Estate Investor · Encinitas, CA · Member since 2016 · 3k+ posts · 3k+ votes
9y
@Reed Cole You're really talking about three very different things and I'd hazard to say that they shouldn't all be equally appealing to you. Wholesaling is a transaction, lead generation, sales/marketing, etc. business while running short-term rentals yourself is basically being a hotel manager. They aren't the same thing and I think require very different personality traits. Or, more accurately, different personality types are sync up more naturally to different areas. If you don't like talking to strangers it's going to be REALLY hard to be a wholesaler. If you don't want to scrub toilets and fluff pillows if the cleaner doesn't show up to a short-term rental that you own/manage you're going to have a hard time. Rather that trying to push or dissuade you from any options why not lay out what you find appealing about each?
Side note: Everyone wants to "build wealth relatively quick" so at least start by taking the economics out of it. There's no quick, easy, riskless formula to money or wealth. If someone tells you that there is they probably want to sell you an educational coaching system ;-)
Anderson, SC · Member since 2017 · 3 posts · 0 votes
9y
Andrew Johnson thanks man! I definitely love the idea of the hustle behind wholesaling and how much your work ethic can pay off in that. I would love to be able to get some cash to start looking in to buying a multi family unit, anywhere in the 12-16 unit range would be ideal. I'm going to stay at my corporate job working 40 until I get a sizable amount to put down on the units