I am trying to decide which niche and strategy to implement and have become overwhelmed. I originally wanted to flip houses however doing some research and talking with some experienced investors, they advised me on finding out my niche and strategy. So my question is did you find your niche or did the niche find you? I am an accountant so i think i would be perfect for buy and hold properties but i also like the idea of flipping but i know nothing about general contracting.
It truly can be overwhelming. It sounds like you have more than one interest. That isn't a bad thing. I do suggest pacing yourself. I say wholesale to get your feet wet. You'll make some quick money and get some experience along the way as well.
You never have to stay in the same place, but it would be a good idea to plant your feet a little in one world before you immediately venture into the next. Helps keep your sanity as well! lol.
I want to fix n flip.... and I will. I want to own my construction company... And I will. but I started as a wholesaler, still am, and will soon move into the next phase. Don't think so hard to where you don't do anything at all. Action and education are the keys to success in this. :-D
To answer your question "both". I knew I wanted to invest in real estate and having long term cash flow. So rentals always seemed to make sense. That being said, while i have been more widely successful than I EVER thought possible, where we are and our model is not where I would have predicted 4 year ago.
The thing for us is just to evolve. i am also a numbers girl and have a full time job. My husband is active duty and we move alot. So we just took everything in stride, did it in baby steps and turned pot holes into assets.
Be realistic, start out slow and know that most peoples first deal isn't the one that lets than retire, yet many deals tha take up the exit strategy. Analysis paralysis happens, so don't let it stop you from jumping in.
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