Updated over 10 years ago on . Most recent reply
Growing Quickly - Strategies?
I just rented out my first property and have been thinking of how I am going grow as quick as possible. Achieving long term steady growth by increasing the number of rentals in my portfolio is my goal.
I currently work for a corporation and make a decent salary. However, this limits my time considerably which takes flipping out of the equation because of the time and management it requires.
Right now my strategy looks like this:
1. Save for a designated amount of time.
2. When I have enough capital and get approved for a mortgage, buy a second rental.
Some strategies that I have been considering:
1. Partner in flips with an investor with a great reputation to build cash quickly. I would not manage the project, only seek returns. This would build cash quicker which will help buy my second rental faster.
2. Find a killer deal and raise private money to fund it.
What are some other ways I can grow quickly? Has there been any strategies that you implemented that has allowed you to be successful?