Buying your next property does not have to be hard…
Wow, have we had a week in the Lady Landlords FB group!
But here is a quick rundown of some of the questions I have been getting about it:
1. Do I flip homes or just do buy and hold?
Both! I've done flips from out of the country too actually! To me, it's always important to find properties (and projects) that match what I have going on in my life. For example, if I am strapped for time or know I want to enjoy my few months on the beach in DR, I will look for a property that is turnkey. I take on the flips when I need cash or am looking for a fun project!
2. What is the best type of property to start with?
OMG so much goes into this! Personally, I look for cash flow in my rentals so I always run numbers and let the math tell me what to look for. But we are different and need to consider what fits within our portfolio best. Get clear on what you want out of real estate then find the number around that. Don't compromise!
3. Can I invest in real estate with little or no money?
The short answer, yes. To me, you either need time or money and they work inversely. The more time you have, the less money you need. The more money you have, the less time you need. Everyone falls somewhere on that spectrum. I love REI because there is a place for everyone, but this isn't a get rich quick scheme. You need to really want it and prioritize your portfolio.
4. Is Mentorship right for me?
No idea. I don't do cookie cutter programs and I don't work with people I can't 100% help. Honestly, I turn down more people than I accept. But I am happy to see if I can. Hit reply, let me know what's going on, and let's have a chat about it. Costs you nothing to find out if I have the answer you're looking for.