Choosing My RE Strategy

[Chad Hack]

Hello everyone and Happy New Year!

I've spent the last 6-9 months immersing myself in the BP community, listening to podcasts and reading recommended books. I've even attending the One Thing Goal-setting retreat, and worked through many mindset topics. However, I'm struggling with deciding WHICH strategy to pursue. Everything from SFR to STR to Self-Storage sound exciting and potentially lucrative to me, and for my personality well. I want to purchase my first property within Q1 to get in the game, but I would like to head down my chosen path rather than switching gears all the time. Any hints on how to choose the actual RE strategy that will suit my needs? I'm in my mid-40s, have a global role in the corporate world, and my wife and I will already retire early through stock investing (~10 years). In other words, I'm in a different stage of life than when I was 20-25 so I'm not interested in house hacking at this point. What are some criteria I might use to filter various strategies so I can feel confident about my chosen path? Much appreciated as always.

[Nathan Gesner]

What's your goal? Are you trying to replace your W-2 income? Are you looking to build wealth so you can cash in your chips at age 60 and just live off the money? Are you building an empire to pass on to your children?

My goal was to replace my W-2 income so I can continue supporting myself and my family if I die, my health fails, or I just decide to call it a day and move to Mexico. I bought properties that create cashflow. As time goes on, my cashflow and equity continue to increase. I'm financially free and could live off my investments forever, but I enjoy my work and will just keep plugging away and investing even more.