Not sure where to focus my attention.

[Matt Murray]

Hey all, there's so many areas that I could be investing in and I'm not sure how to focus my attention into one area. I'm interested in Airbnb, multifamily, single family rentals, RV parks But I'm not sure how to just pick one and go for it. Because they all seem profitable and fun to do. Can I get some advice or can someone just tell me one to pick lol. 

[Mike Hern]

Quote from @Matt Murray:

Hey all, there's so many areas that I could be investing in and I'm not sure how to focus my attention into one area. I'm interested in Airbnb, multifamily, single family rentals, RV parks But I'm not sure how to just pick one and go for it. Because they all seem profitable and fun to do. Can I get some advice or can someone just tell me one to pick lol. 

I'd be inclined to join a local REIA. (NationalREIA.org) Ours is $20 a month. I'm not talking about groups that charge a lot of money just to join.

You have to balance expertise, time, knowledge, profitability, etc. So you first figure out why you want to get into real estate investing. If it's for a hobby, just pick one for fun.

If you want cash flow, generally go with rentals. If you want capital gains, go with flipping.

I buy using Subject To and sell on Lease Option which I explain at   https://www.biggerpockets.com/forums/311/topics/1141313-subj.... It's just one of many ways to do things but it gives you a way to narrow down your interests. Since you already have a real estate license, wholesaling might interest you.

[Scott E.]

Don't pick one just because it's fun unless you're looking for a hobby.

You've got to think about your why and what your goals are. That will help you focus.

[Matt Murray]

Quote from @Scott E.:

Don't pick one just because it's fun unless you're looking for a hobby.

You've got to think about your why and what your goals are. That will help you focus.

Good point, not looking for a hobby. But these are the things that get me excited. Like fix and flip does not, wholesaling doesn't and subject to dosest either.  I want cash flow, rentals and Airbnb plus do that but I'm not sure which one to pick. So do multifamily. I know each one is its own thing so I just want to make sure I get good at one of them. To help stay focused.

[Scott E.]

Quote from @Matt Murray:

Quote from @Scott E.:

Don't pick one just because it's fun unless you're looking for a hobby.

You've got to think about your why and what your goals are. That will help you focus.

Good point, not looking for a hobby. But these are the things that get me excited. Like fix and flip does not, wholesaling doesn't and subject to dosest either.  I want cash flow, rentals and Airbnb plus do that but I'm not sure which one to pick. So do multifamily. I know each one is its own thing so I just want to make sure I get good at one of them. To help stay focused.

Unless you either have a lot of money or have access to a lot of money, you'll have a hard time buying a bunch of rentals or apartments right out of the gates. Real estate investing is generally a pretty capital intensive thing to get involved in. Sure there are creative ways to finance deals, but you need to have some of your own skin in the game.

Assuming you are starting with some working capital, I think the best move is to focus all of your energy on value add multi-family. Deals are hard to come by right this minute, but if I had to guess, there will be some multi-family opportunities starting to surface over the next few years. A lot of people bought in at the peak. If they didn't get fixed debt on their deal, then they are going to be forced to sell when the loan matures or adjusts.

Airbnb is an ok strategy but it's super saturated still in all of the good markets, which means returns are compressed. A LOT of work and risk for less reward nowadays.

[Katy Fleming]

So much good advice here already!

I agree that it's tough to get started without money.  I started by refinancing my owner-occupied home, then investing that in my first rental, rinsing and repeating.  But that's a little tough with the rates right now. 

When I no longer had access to funds, I found a money partner who brought the money while I found the property, did all the upfront work and management, and we split 50-50.  In each one of those deals, I wrote into the operating agreement that I would refinance the property at some point (I left myself some wiggle room with a date range of a few years), then buy them out so I owned 100%.  I now own all my properties myself.  I refinanced using a "hybrid" commercial/residential loan that was a little higher in rates, but not much.  It takes a little time, but it allows you to get started if you don't have working capital.

I've now turned half my properties into mid-term rentals for mostly traveling health care providers.  Because you pay so many monthly costs (utilities, internet, cleaning costs, landscape, etc), I can't say the cash flow is that much better than my long-term holds were, but the guests REALLY take good care of the properties!