Updated about 5 years ago on . Most recent reply
How to start a real estate buisness
Very interested in getting into real estate how do I start though. I am an E5 in the Army and want to start my own real estate buisness
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@Andre Kimbrough To answer that question you need to figure out what your goals are. Are you looking for passive income, are you trying to start a new career. How involved do you want to be and what your market needs. What about real estate interest you specifically and what do you feel passionately about.
Do you want to build a portfolio that continues to earn or are you looking to get in and out fast and put the return in your pocket or to work towards the next one.
Figure out where you want to be then the choice on how to get there may become easier. There is no blanket right answer.
I am an active duty Navy Senior Chief, i chose the investment route, buying properties in distress, stabilizing the units then managing the portfolio for passive income. The pay off in the short term being relatively small compared to fix and flip or a wholesaling strategy, but should pay off in the long run and allow me to continue to collect income without having to be actively involved on a day to day basis. Simply put when i'm ready to stop working everyday the money continues to flow.