Updated about 11 years ago on . Most recent reply
Business strategy
New member to BiggerPockets, and looking for some overall advice on how to get started. A little background: I am 47, and just recently retired. I have had several rental units over the years, and am somewhat experienced in that component of RE investing. I have also flipped 4 houses in 2014. So, some experience there as well. I squeezed this "part time" activity in around my 60-70 work weeks. Now that I am free of that commitment, I am making RE my full time career. Obviously, I have some options and my thoughts right now are as follows:
1. Continue to rehab and flip SFH at the rate of 1 per quarter, while I learn more and get trained on the other options in RE investing. Move that number to 2 per quarter in 2016.
2. Start to pick up some buy & hold rental properties for that passive monthly income that is crucial in between the big flip pay days.
3. Once I get more knowledgeable on the subject, start wholesaling deals. Time frame: 9 to 12 months from now (4th Q, 2015)
4. Ditto for lease options/buy to own. Get trained and comfortable, then ease myself into this. Time frame: an additional 9-12 months. (4th Q, 2016)
I would appreciate any comments, feedback, anecdotes or general advice on whether this seems to be a practical strategy moving forward.
Thanks!