Should you Buy in this Market or Wait?
In the Lady Landlords Facebook group, we are starting to hear of markets changing and that has many of us
thinking about our own portfolio growth.
So that is exactly what I did!
I sat down this past week with my business partner (AKA Hubby) and reviewed our portfolio. I will be sharing more about the method I use in an upcoming podcast episode but thought the results of my analysis would help you start thinking about your own. Q4 is upon us and we only have a few months left to reach our goals
What do you have left to accomplish this year?
Listen to this week's episode on the Lady Landlords Podcast here to learn if I am buying...or waiting.
Here is what I am focusing on for the rest of 2022:
Stabilization of Current Rentals:
With the new purchase of a duplex, flipping a unit, and renting out 3 units all the same month, it's time to get everyone settled in. Any time there is a new tenant, there is a settling in period where they are learning all the nuances of their new home. They might need to learn the garbage pick up days or that the key jiggles to the left in order to open the door. I feel the first few months of tenancy is when I get the most calls, and then after that, it's smooth sailing!
With now self managing 12 sets of tenants along with maintaining the properties, the income we bring in allows us to focus more on the things that we actually want to spend our time doing such as traveling and playing softball. With that said, we have chosen to diversify our investing strategy and invest in more passive income streams. We have had a great experience investing in a Syndication that produced 12k in under 5 months so we plan to invest more there and as a private lender for other projects. Click here if you would like to get information on the Syndication deals that I will be investing in this Fall.
Planning for Growth:
Even with expanding into more creative ventures, rental properties will continue to be our bread and butter. My goal has always been to own the least amount of properties for the most amount of money. We only really need 2-3 more units to hit our newest income goal and most likely won't need to buy more after that. We have our next LTR and STR property in mind, but aren't looking to pull the trigger until 2023... but you never know what might pop up! Listen here to learn why we are waiting.