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Updated 3 months ago on . Most recent reply

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Tom T.
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Rookie Investor: Syndicate, House Hack, and Long-Distance Rental in one year?

Tom T.
Posted

I've been learning a lot about real estate investing and am eager to take the plunge. I currently rent, do not own primary residence. I want to learn as much as I can in my first year of investing so I am thinking to try a few different things:

Syndicate: I have some capital that is in stocks that I could put in a syndicate. Get more real estate exposure (none in my overall portfolio). Get better at analyzing deals and learn from professionals to see what they look for in their PPMs/deal analysis. Any syndicate recommendations?

House Hack: once my lease is up in a few months, plan to buy 1-4 unit and live in it and rent out the rest. Get some hands on experience with land-lording. Plan to self manage, but hire out all repairs (e.g., handyman, contractors). Do not want to fall into the pitfall of working "in the business" not "on the business". Eventually move out once it can cash flow (and hire a PM), maybe after a couple years.

Long Distance Rental: look for markets with good cash flow. The minimum bar is that my first deal just won't lose me money. If I can just be break even (with reserves) and have a tenant paying off the mortgage that is good enough. Will of course try for better but may be difficult being long distance & a new investor.

My thinking is to do all of the above within the next year. Since I haven't done any actual real estate investing before, learning is the most important part. I am doing all of these will fast-track my experience as an investor.

Anything you think I should watch out for? How is this plan for a rookie investor? Any syndicate recommendations? Or general advice?

  • Tom T.
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    Nicholas L.
    #5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
    • Flipper/Rehabber
    • Pittsburgh
    4,391
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    Nicholas L.
    #5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
    • Flipper/Rehabber
    • Pittsburgh
    Replied

    @Tom T.

    hello

    definitely house hack

    syndications are a diversification strategy for HNWIs

    not a starting strategy

    good luck

  • Nicholas L.
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