Thank you for taking your time to read this post. I have a question that is kind of vague but I was hoping someone may be able to give me an estimate or share their experience as to when they began to feel more secure with their investments.
I'm a rookie investor who has decided to practice the buy-and-hold strategy with SF and MF homes. Unfortunately I haven't been able to find any MFH within my market, but I have been able to purchase 2 SFH and they are performing fairly well with cash flow. Im still skeptical about my progress though. I feel as though I need more properties that produce cash flow to offset this anxiety in the case of some crazy emergency or something weird happens. How did you all tackle this feeling during the beginning phase of your investments?
@Terrence S. Hey Terrence, Have you heard the David Pere podcast episode? David has created a From Military to Millionaire Facebook group, you could try asking it there as well.
Thank you! I'll check that out since I am prior service.
I guess I should've been more specific. I was referring to the investors who have been investing for a while now. I apologize for the confusion.
@Terrence S. Slow and steady wins the race. This is not a get rich quick type strategy. Take your time, make sure you are buying right and don't force yourself into any purchases you'll regret because you were in a rush to do more deals. Everyone wants to create more cash flow, but it takes time. Sounds like you are doing great so far. Keep it up.
@Terrence S. Good on you for taking your time with your MF investments and only purchasing what works for you! You seem to downplay your SF investments a little in your post. Celebrate your small victories sir! Purchasing investment properties can definitely have a snowball effect and you have to start somewhere. As usual I agree with @Stuart Grazier the turtle always win! I’d encourage you to keep developing yourself with education, normally fear is a result of lack of education. The more you study and research your niche, the higher your confidence will grow in your purchases and the uncertainty will be out the window! Best of luck and happy investing!