Simultaneous Multiple Strategies (BRRRR + MFR)
I'm looking to make several out-of-state investments. These will be my first real estate investments outside of my primary residence. I've spent the past couple of months learning as much as I can. I have a solid financial background (prior profession) and we've done a little rehab on our primary residence. I'm also comfortable forming and managing teams - so I'm confident that I can handle out-of-state acquisitions and do rehabs as necessary.
With that said, I'm trying to decide if it's best that I focus exclusively on BRRRR (SFR) or if it makes sense to diversify a bit and perhaps acquire a non-rehab small multi-family property.
My primary goal is wealth accumulation versus immediate income. I certainly want to be cash flow positive but will invest that back into properties.
BRRRR and MFR are the two approaches I'm most interested in. I've been looking for decent BRRRR properties in my target area for about a month - so far nothing. I can be patient. But I'm also wondering if it makes sense regardless of whether I find BRRRR opportunities in this area to diversity a bit - perhaps acquire a duplex or two while waiting for a good BRRRR property. Or at this point, should I really put all of my focus on a single strategy (likely BRRRR).
I think there are advantages and disadvantages to both, so curious to hear from people who have gone down this path before.
Thanks.