Wholesaler · East Hanover, NJ · Member since 2014 · 7 posts · 1 vote
Hi all,
So glad to be a part of such an amazing community. I have been reading BP content for a long time and looking forward to connecting with like minded folks.
I have been investing in Real estate in the form of wholesaling and rehabbing for the last 18 months while working full time. I am interested in taking my profits and buying my first long term rental property.
I also want to learn how to buy 6+ unit properties and structure mutually beneficial deals with other investors.
Investor · Cincinnati, OH · Member since 2014 · 97 posts · 27 votes
10y
good luck. As you know, it is all in the "buy". Buy and hold is a great way to generate a very attractive long term ROI. Since it sounds like you have been successful in a few of the categories of real estate investing, take time and put the effort into the buy and hold; determine if self-management works for you.
Wholesaler · East Hanover, NJ · Member since 2014 · 7 posts · 1 vote
10y
Thanks @Ben W. It has been a great journey so far. Looking forward to putting the plan together and executing. Any pitfalls in the buy and hold game you can warn me of?
Investor · Cincinnati, OH · Member since 2014 · 97 posts · 27 votes
10y
of course there are great days and days that are not so great. We manage for ourselves (creep on my profile if you want to see more about the extent of what I have). We have built our portfolio on low to moderate income pptys; the ROI, at least on a forecasted basis, is much better, and we focus on cash flow and not appreciation. Have a plan in your head as to what you want to focus on; tenants are tenants, but some will cause you more headache than others. Understand landlord tenant law and, just like hiring employees, remember the phrase "slow to hire, quick to fire". Same practice in landlording. Screen tenants, have a dialogue with them on the front end to manage expectations. Much, much more.... Build a team of trusted contractors and maintenance persons.
So glad to be a part of such an amazing community. I have been reading BP content for a long time and looking forward to connecting with like minded folks.
I have been investing in Real estate in the form of wholesaling and rehabbing for the last 18 months while working full time. I am interested in taking my profits and buying my first long term rental property.
I also want to learn how to buy 6+ unit properties and structure mutually beneficial deals with other investors.
Best,
Carlo
Hello Carlo,
First off, I would like to say congratulations! It sounds like you have made great progress in the REI world. Sometimes it's not easy, but you made it work!
I would like to say that buying and holding is an excellent idea. It really guarantees a significant cash flow. My company specializes in turn key investment properties. We rehab every house and we help investors prepare for buy and hold. If you have any questions about it, feel free to contact me. I can help answer any questions you have.