First Time Father and First Time Investor

[Jordan Frisco]

At age 29, I am choosing to invest in real estate to better the life I can offer my newborn child. I have spent the last year getting my fixer-upper house ready for our newborn and now (A/C install, patio, fixtures, flooring, plumbing, added bathroom, paint) I will transition into working on readying a rental unit or flipping my first property. I am deciding on finalized strategies:

1. Fix and flip 1-2 properties per year $180-200k purchase (light cosmetic updates), $260k resale, and hang on to 1 rental property a year if I decide I like the rental situation in a middle income area, 1031 exchange

2. Buy and hold Section 8 properties in the Greater Cleveland area, paying $45-55k/door. Acquire 3 properties and sell 1 buy one, 1031 exchange and trade up to a rental property in Parma or Lakewood

3. Fix and flip 1 nice property per year $450-500k resale, 1031 exchange

4. Visit as many nursing homes as I can and convince someone's grandpa to sign their house over to me to fix and flip it and go from there! Haha :)

Where am I going to go wrong? What am I doing right? Open to listen to what you have to say. Thanks!

[James Wise]

Quote from @Jordan Frisco:

At age 29, I am choosing to invest in real estate to better the life I can offer my newborn child. I have spent the last year getting my fixer-upper house ready for our newborn and now (A/C install, patio, fixtures, flooring, plumbing, added bathroom, paint) I will transition into working on readying a rental unit or flipping my first property. I am deciding on finalized strategies:

1. Fix and flip 1-2 properties per year $180-200k purchase (light cosmetic updates), $260k resale, and hang on to 1 rental property a year if I decide I like the rental situation in a middle income area, 1031 exchange

2. Buy and hold Section 8 properties in the Greater Cleveland area, paying $45-55k/door. Acquire 3 properties and sell 1 buy one, 1031 exchange and trade up to a rental property in Parma or Lakewood

3. Fix and flip 1 nice property per year $450-500k resale, 1031 exchange

4. Visit as many nursing homes as I can and convince someone's grandpa to sign their house over to me to fix and flip it and go from there! Haha :)

Where am I going to go wrong? What am I doing right? Open to listen to what you have to say. Thanks!

There isn't gonna be a final strategy that you do your whole career. You do the deals as the opportunities are available. Would you not do a great BRRRR that came across your desk simply because you arbitrarily decided you were going to do a FLIP that year? Doesn't make any sense. Do the deals as the deals become available. Stack the W's.