All Forum Posts by: Marcus R.

Good topic.  Hang in there Becca F., it sounds like you're doing just fine and need to give it more time.  Make the small improvements and keep getting better over time but be patient.

I've had these same thoughts.  Figure out other ways to de-stress your life so you can keep your W2 for as long as possible - outsourcing disliked tasks, working on mental/physical health, shorter commute, etc...Retirement seems like an emotional state of relatively low stress and contentment.  There may be a way to reach this destination in the nearer future that doesn't require 10+ paid off properties. 

Lastly, ignore the noise.  Social media folks push that they're "retired" but still run podcasts, sell courses/books/seminars, post daily content, etc... so still actively working. 

A W2 can be frustrating but it provides a guaranteed paycheck, subsidized healthcare, matching retirement, tuition reimbursement, equity programs, PTO, and more.   

Our lease states the tenant is responsible for these charges.  Worst case, you have to pay so I'd politely push for full or partial payment from the tenant.  

Let them know that a licensed professional confirmed that the issue was user error so they should be responsible.  If it was determined that it was wear/tear or a failing system you'd cover the charges. 

Some of the CA experts weighed in above.  Listen to them, this is more general advice...

- Can you expand your radius?  Look an hour or two outside of the area.  Keep expanding if you have to.

- Do you have any friends that could move in with you?  You'd own the property and they'd rent from you.  See if you can proactively get buy-in and house hack with them so you're more comfortable sharing space with others.  Run the numbers, you may have to rent by the room once you move out but this might make the numbers work.

- Start small if you have to (condo, townhome, etc...)

- Research Craig Curelop from BP.  He had some really great strategies for getting started.

- As others have mentioned be open to moving,  You can always move for a short period of time and build up your portfolio and skills and then move back to SD.  Same as moving for work. 

- "Why not you?"...There has to be some strategy or underserved/niche market that most aren't aware of.  Figure out what that is and go get after it!  

Another vote for @Nicholas L.'s suggestion of house hacking but it sounds like you have a solid plan.

Even though you hate moving, moving every 12 months is a lot less work than managing 1-2 BRRRRs at a time.  Maybe consider combining the two and every 12 months moving into the property that is being rehabbed and repeat.

One suggestion to add to the plan is the plan when things don't go according to plan so the ship stays afloat. 

Agree with all the above from Sean.  I've considered this in the past but the business case for leveraging is just too strong IMO.  The business case for RE falls off a cliff without leverage. 

Some other things you could do to lower your risk is keep massive cash reserves or just pay off one property and get a HELOC on that property for emergencies.

I like the idea...it's great to strike gold during the gold rush, but also, it ain't bad to sell picks and shovels either.

@Travis Timmons - Love the one liner..."I'm also more of a rent your vacations, buy your investments guy".  This is a great piece of advice.  Took me a while to get into this mindset but I think it's the way to go.

Instead of buying a STR in a place you like to vacation, you can buy a cash flowing property that makes sense in any market using any strategy and just use the profits to fund your annual vacation to the same place. And if you ever get tired of going to the same place it's easy enough to use your profits and just vacation someplace else.

Agree with @Nicholas L., start with a house hack in Charlotte or NC.  I'm out in Denver but have family in NC and from what I've seen it seems like a fantastic market.

In addition, if you house hack there are programs like NACA that will help you qualify.

@James Hamling really made a great point and I share the same thoughts. The right HOA can be a pro instead of a con.

I used HavensInspects.com.  Highly recommend, they were great to work with.