Looking for recommendations on how to scale up
Hello,
We (my husband and I ) are fairly new to investing with purchasing a STR single family home last year and in the process of another STR single family this year.
My husband has a full time very needy job so I am taking the lead on gaining the knowledge needed to move forward.
I listen to this podcast's daily and feel like I am entering into the information paralysis stage.
I have a few questions that are keeping me stuck in the mindset that I need to gather more information before I move toward scaling our portfolio.
My questions relate to residential (1-4 doors) vs commercial and how to mange DTI. If we stay in residential our DTI will limit us. If we go to commercial I do not know much about the lending side and fearful of taking on such a large debt. However I realize that more doors equals more passive cashflow.
I /we are eager to get another property this year (residential or commercial).
I am 55 y/o and my husband is 50, so we are highly motivated to scale as quickly as possible adhering to wisdom and safety protocols.
I am looking for some direction and guidance?
Much appreciated :)
Most Popular Reply
@Susan Humphrey welcome to BP!You came to the right place. Join a local REI or LL group in your area and network. More doors usually means more cash flow if they are the right doors. Study up on the financing and decide what kind of properties and tenants you want; every day investors make and lose money in every facet of REI. All the best!