In a similar situation. Have my 401k maxed, back door Roth, maxing the 529 college funds thing, previously just putting the rest in mutual funds with Betterment. Want to diversify into REI. Got excited about the BRRRR - the ‘getting all your original investment out in a refi' part and using it to repeat. BUT, im doing 8-10 hr days in a well paid job. Can hardly find time to research and find deals, let alone find rockstar team, renovate etc.
So currently exploring turnkey REI. Still needs due diligence, analysis, learning and networking for finance, legal things like LLC...but manageable from a desk. Speaking with a few to get a feel. But lots of talk of syndication deals on this thread. Not explored. Anyone got any links for where to start with that?
Good luck Justin. Let’s connect and share stories- interesred to see which path you choose
@Justin Wotring Good question, that all depends on the individual. What I personally did was divide up my investable net worth and invest in cashflowing multifamily syndications at the minimum investment per project (usually 50k per project). The goal was, and still is, to have diversification, multiple income streams, 100% passive income, no active management or time commitment and I get to learn a lot from different syndicate groups, 14+ and counting...best of luck!
Where did you learn your financial skills? I’m looking everywhere for mentors and things that can teach me the way money moves through real estate deals.
Where did you learn your financial skills? I’m looking everywhere for mentors and things that can teach me the way money moves through real estate deals.
I have a finance degree, a CFA and I read A LOT and listen to podcasts. Just never stop looking for new ways to keep learning. I would be happy to help in anyway that I can in your journey towards learning about money and finance.
@Joel Johnson while you definitely need to research the various investment opportunities, please don’t miss the fact that you need to research the people you’ll become involved with equally. Happy to share some war stories where I’ve learned the hard way!