Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
5y
If you mean "pick one strategy" and go with it, that would be one of the worst mistakes you could make. REI is about picking the right strategy to make a deal on a specific property in a specific market based on your overall and short term plan...at that time. Taking the limited route of using just one strategy means you would be missing out on at least 90% of your potential deals, and in the end you would start forcing your strategy onto properties that you have no business doing...then rationalizing that you did a good thing.
One trick ponies lose more than they could ever gain.
Investor · Minneapolis, MN · Member since 2021 · 14 posts · 8 votes
5y
I have also recently been trying to find my niche. Currently, I own a townhouse that serves as a rental property, but I have been trying to determine what the best path is for my next investment. I'm not sure that picking just one strategy is a good method, similar to what @Joe Villeneuve said. I have been trying to do my due diligence by researching different strategies as much as possible to see which one fits me best for my next move. So far in my research, I have determined that house hacking a MFH is probably the route that I want to go so that I can take advantage of a FHA 3.5% loan.
To get to my point, I would recommend researching multiple options to see which one seems most appealing to you at this time. Hearing pros and cons from experienced investors has been the biggest benefit to me so far. Best of luck!