The Truth About Single-Family Homes
When I was first starting out, the idea of buying a real estate business like a self-storage facility would have scared me off.
And the idea of investing in something like a hotel was totally out of the question. Buying and renovating single-family homes was in my comfort zone.
So, I spent ten years building a portfolio of single-family homes.
Then I bought my first apartment building, and I started to understand it was time to work smarter, not harder.
By converting some of the apartments into short-term rentals, I instantly doubled the income I’d worked years to bring in from single-family homes.
The right strategy can eliminate years of hard work.
I thought I had to build my way up to a big deal…one single-family home at a time.
The truth is that in some places you can get a micro-resort with 5 units for less than a single-family home…giving you 5 doors instead of 1. And in some markets, you can get a self-storage facility for less than a duplex…giving you 100 doors instead of 2.
The right market paired with the right research can expand possibilities.
I grew up thinking I had to figure out everything on my own and take care of everything myself. Then I started surrounding myself with people that knew how to make big deals and how to build systems to fit growth.
This changed the way I approach real estate investing. When I was letting the single-family home cycle rule my life, I was investing in real estate. Now, I run a real estate investment business.
The right network can help you learn how to run a business, one system at a time.
Does the idea of investing in a hotel or in a self-storage facility sound way too daunting? Way too big? I know it did to me. I had to work myself into a place where I was ready to think bigger.
But it isn’t necessary to work yourself into that place. You can just start there.
You can think bigger, NOW.
When I was renovating and renting single-family homes, I couldn’t take time off because it would all come crashing down without me there.
Now, I can work from anywhere. It's a literal dream come true.
