Save Or Raise Money?

Question

I can save $20k/yr, which is nothing. 🤣

Should I focus on finding ways to increase my income ((maybe find a better paying job, or work two jobs)) so I can save more money per year to invest?

Or

Should I focus on finding great deals and pitching it to investors ( apt building syndication)?

Or

Should I work with private lenders and focus on fix and flipping until I build up enough cash reserves to invest in a property with more units?

I have almost an excellent credit score, (I have experience with maintenance day to day operations and property management) ,I have some savings.

My father has construction experience 20+ years, maybe that can be an advantage to me too when it comes to fix and flipping?

So I am thinking how can I leverage my current situation in the best way?

Thank you all in advance!!!

Drew Sygit · Answer

Yes to all you listed!

To that add finding money partners to do fix & flips or buy & holds.

Taylor L. · Answer

Yes!

$20k a year isn't nothing. Sure, it's not $200k/year, but it's also not zero. If you can up that to $25k, so much the better.

Take a step back and figure out what your goals are. Not in real estate, but more broadly. What do you want to get out of this whole thing?

Syndication is not something to be taken lightly. It took me a few years of work to do my first deal. Are you prepared to work for years before you start receiving results?

Eric James · Answer

If you had 10 years of experience in MFH worki with syndications might be possible. If you're new, then forget that. In your place I'd seriously consider moving to an area with more affordable and profitable rental real estate. Also, why do you say you "can" save $29k/year? Does that mean you haven't actually been doing the that?