What did I just do! Full-time investor during the Coronavirus!

[Gregory Schwartz]

Did I pick the best time or the worst time to jump in full time as a real estate investor? 

December 2019 - I very confidently left my full-time job as an active USMC officer making over 100k a year.

January 2020 - With ambitions of combining the 2 strategies of Househacking and BRRR I spend ALL of my investment money to buy and rehab a 280k 4-plex. I simultaneously began my career as a real estate agent with Keller Williams.

February 2020 - With an empty investment account, 1 unit rented and 2 nearing completion I first hear of Coronavirus concerns.

March 2020 - Corona is in full swing, lockdowns happening nationwide, wife's employer (a gym) is shut down and no one's buying houses. But with a decent savings account buffer, I remain nervously excited for the future.

I did not see this coming. Fully expected have at least a few houses under contract and my wife expected to be working full time. The blessing is that we live well below our means and thanks to the house hack we have very low housing-related expenses. Despite all of this I started a campaign to buy off-market distressed duplexes and 4-plexes as I continue to attempt to grow my portfolio and goal of financial independence through long term buy and hold multifamily. 

Any other optimist out there convinced that this tragic event can provide huge opportunities?

[George Pauley]

My wife and I often joke that our (apparent) investment strategy is to make less expensive mistakes with each new investment.  I closed on my first rental in January of 2008, a 4000 square foot behemoth McMansion that was almost unrentable.  Today I have 15 properties, all cash flowing.  But there were le$$on$ along the way.  My story is very non-unique here in these forums.

Yes you (inadvertently) picked a challenging time to get into the business.  Just like my 2008 entry.  But every investment has its own unique challenges.  But there IS a way to make it work.

I like to use my "5 year rule".  When confronted with a difficult decision I like to ask myself "If I take action X, what will that look like 5 years from now?"  So ask yourself, if dump your new investments (probably at a loss) how will feel about that in 5 years?  Missed opportunity?  If you find a way to make it work and hold on to the property, how will you feel in 5 years?  Happy that you have a cash-flowing investment in your portfolio?